Boodil launches Pay by Portal solution for Open Banking payments

Wednesday 3 May 2023 15:20 CET | News

UK-based fintech Boodil has launched its Pay by Portal solution, a platform that reportedly allows businesses to benefit from A2A payments without the need for costly card fees. 


UK-based fintech Boodil launched Pay by Portal, a platform that reportedly allows businesses to benefit from A2A payments without the need for costly card fees.


With this new offering, Boodil aims to help merchants realise the benefits of Open Banking payments. Pay by Portal lets merchants send payment links to customers via SMS, email, or a generated QR code. Customers can then check out using Boodil's Open Banking payment method, which is reportedly fast and secure. The solution is customisable with brand colours, fonts, and logos, and offers custom fields, branded email templates or SMS content, as well as notifications to inform merchants when they have been paid, according to the official press release.

According to the co-founder and CTO of Boodil, Pay by Portal was developed to address the need for a more flexible and customisable platform to allow businesses to take account-to-account payments. The Pay by Portal solution allows for a branded experience for merchants to collect account-to-account payments via either QR codes, payment links, or a self-serving customer-centric page with full support for payment confirmation for both parties, the company executive said.

Pay by Portal has already attracted several clients, including Bullion Giant, Carttitude, and Magic Detail, as well as businesses in other industries such as jewelers, professional services, and trade professionals. As stated by the founder and director of Cartitude, the Boodil Pay by Portal solution works perfectly for the company’s business model. Cartitude has high-value transactions, and it would reportedly be far too costly if the company took these payments via cards. This Pay by Portal solution allows Cartitude to safely and securely collect payments via instant bank transfers from its customers rather than relying on them manually transferring the payment, the company executive stated.

Pay by Portal is aimed at helping merchants save on transaction costs, increase payment efficiency and security, and improve the overall customer experience. By leveraging Open Banking, Boodil hopes to empower more businesses to make the most of the latest payment technologies, the official press release concluded.

More about Boodil

Boodil launched in 2022 and in November of the same year, the UK-based Open Banking payments and consumer engagement app raised GBP 525,000 in pre-seed funding, to allow it to launch its cardless payment method. In February 2023, UK-based ecommerce platform Aero Commerce announced its partnership with the payments solutions company to enable A2A payments via the Aero platform.

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Keywords: product launch, account-to-account payment, Open Banking payments
Categories: Banking & Fintech
Companies: Boodil
Countries: United Kingdom
This article is part of category

Banking & Fintech


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