PayDo has unveiled a dedicated International Bank Account Number (IBAN) designed specifically for consumer-to-business (C2B) transactions. The solution offers fast settlement, full automation and continuous reporting designed specifically for Open Banking environments. The new IBAN structure distances itself from the conventional setup in which business accounts supporting consumer payments via Open Banking still treat them essentially as business-to-business transfers.
Instead, each dedicated IBAN can accept Open Banking payments directly from individual consumers. According to PayDo, transactions arrive within seconds via the UK’s Faster Payments Service (FPS), enabling the recipient to confirm funds immediately after payment is completed.
Furthermore, the payments processed do not require additional documentation because all transactions are automatically verified and recorded. The system includes real-time reconciliation via APIs, providing businesses with detailed, continuous transaction data.
Operational focus for Open Banking adoption
Representatives from PayDo described the launch as a step forward towards making Open Banking viable for everyday business use. They noted that the initiative addresses operational pain points faced by companies handling digital payments, moving focus to integration and workflow rather than marketing. Moreover, the company highlighted that it has recently introduced direct acquiring for major card schemes and plans further updates ahead of 2026.
With the release of this dedicated IBAN service, PayDo aims to support its position in the payments infrastructure space by integrating modern financial system capabilities with business requirements. Existing information on the company’s business-account offering confirms that it supports multi-currency IBANs and a variety of payment schemes (including SEPA, SWIFT and FPS) across multiple jurisdictions.
In other developments, PayDo has recently expanded its payment capabilities in Europe by completing a direct connection to both SEPA and SEPA Instant. The move shifts its euro-transfer operations away from correspondent banking chains, allowing the company to handle transactions within its own infrastructure. As a result, standard SEPA payments are expected to reach recipients on the same day, while SEPA Instant transfers are processed within seconds.
