UK-based FinTech startup Pay iO goes live

Monday 10 January 2022 15:19 CET | News

Pay iO has announced the launch of its new payment solution for online retailers. 

Powered by Open Banking, Pay iO has joined the revolution that’s transforming the financial ecosystem in the UK. Many sectors are benefiting from Open Banking, and these include the burgeoning multi-billion-pound ecommerce market where payment solutions are a crucial asset.

Pay iO is available on the WordPress/WooCommerce and Magento marketplaces. These ecommerce solutions are hugely popular with retailers who can now add Pay iO to their website payment options using a simple plugin. Reportedly, this means SMEs can get on board more quickly, easily, and cheaply than with traditional providers. Pay iO is set to join other ecommerce platforms in the coming months.

Pay iO’s dashboard, functionality, and low transaction fees allow retailers of all sizes to process payments and refunds, remove the risk of card fraud, and keep track of their business. A merchant’s account is activated within 24 hours and there are no set up fees or contracts. Also, online shoppers can pay directly via their bank with a few simple clicks.

One reason why online shoppers abandon their carts is because they encounter difficulties making a payment. Pay iO offers cardless transactions with no sign up required. Retailers benefit from direct settlement and no chargebacks. They can also use Pay iO alongside other payment options.

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Keywords: Open Banking, product launch, ecommerce, online payments
Categories: Payments & Commerce
Companies: Pay iO
Countries: United Kingdom
This article is part of category

Payments & Commerce

Pay iO

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