This collaboration aims to establish an online comparison marketplace for payment services, changing how businesses discover their Payment Service Providers (PSPs). Small and medium enterprises (SMEs), as well as larger corporations, will gain the ability to assess offers from PSPs related to various payment acceptance methods such as credit cards, Open Banking, cryptocurrencies, and direct debits.
This platform will enable merchants to compare services across different categories, including merchant accounts, card machines, tap-to-pay options, QR code payments, pay-by-link solutions, payment gateways, virtual terminals, and Buy Now Pay Later (BNPL) alternatives for their online, physical store, remote, or multichannel retail operations. Plans are also underway to incorporate a natural language processing tool driven by artificial intelligence technology.
The introduction of this new payments comparison marketplace is in response to payment systems regulations such as the Payment Services Directive (PSD2), set to evolve into PSD3, and the UK's Open Banking directives. These regulations aim to enhance consumer protection, foster competition, and streamline comparison and switching processes. This initiative will also ensure that businesses can identify solutions tailored to their specific digital integration needs.
Endava, which operates globally, will continue to offer support as AcceptPayments.com expands into new regions. According to the company press release, the initial phase of the project is poised to launch with 10,000 merchants from the UK using the platform.
Representatives from AcceptPayments.com highlighted the company's aspirations to become a comprehensive global hub where business owners can access deals from the entire market and apply online around the clock. The platform aims to simplify the complexities involved in the process. Company officials also revealed that Endava was the logical choice due to its extensive global reach and comprehensive understanding of payments.
In turn, Endava representatives talked about this collaboration and expressed their aim to further advance the global payments ecosystem. They also noted the alignment of values and aspirations between the two entities.
Endava is reimagining the relationship between people and technology. By leveraging next-generation technologies, the company's multi-disciplinary teams provide a combination of product and technology strategies, intelligent experiences, and engineering solutions to help clients become digital, experience-driven businesses by assisting them in their journey from idea generation to development and deployment of products, platforms and solutions.
In June 2023, Endava collaborated with the insurance payments platform Imburse, which is a Duck Creek Technologies company. Based on the information provided in the press release, the collaboration aimed to improve Endava’s ability to support businesses with their digitalisation, innovation, and migration projects through new technologies and improved payment solutions.
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