LONDON, Dec. 5, 2023 /PRNewswire/ -- ISX Financial EU
Plc, the developer of PaidBy® www.paidbybank.com, the specialist
open banking payment platform has partnered
with Wix.com Ltd (NASDAQ: WIX), a leading global SaaS
platform to create, manage and grow online presence. Through this
partnership, Wix's UK-based merchants have access to PaidBy®, open
banking payments service, and their customers can pay directly from
their current banking app or web portal.
The safe & simple PaidBy® bank payment process will help
improve merchant checkout conversions by offering a seamless
experience, enabling customers to make payments in as little as
three steps, all from the trusted environment of their banking app
or web portal. PaidBy® starts with an automated online onboarding
system, which enables UK merchants to complete their onboarding and
Know Your Business process in minutes. This enables merchants to
spend less time onboarding and more time transacting.
PaidBy® utilises the UK's open banking network, which connects
the UK's largest banks, enabling them to move money between
accounts in seconds. As cash flow is critical, Wix merchants in the
UK will have access to their funds the same day. By eliminating the
need for card schemes and networks, PaidBy® offers a seamless
experience for merchants and their customers.
PaidBy® payment infrastructure further enables higher conversion
rates with fewer chargebacks in a safer and more secure environment
for merchants and their customers.
Managing Director & CEO Nikogiannis Karantzis said, "ISX
Financial is thrilled to be partnering with Wix, on our full open
banking orchestration service that competes with online card scheme
processing. This mass application of Open Banking coupled with
ISX-issued sort code-based merchant accounts and a full API-driven
notification service is unique, innovative and will deliver real
benefits for customers and merchants alike, and delivers the ease
and flexibility that Wix is famed for.
"We are constantly finding new ways to support our merchants in
order to provide them with innovative tools for business growth.
This enables them to extend their online footprint, and deliver
exceptional service to their customers," said Volodymyr Tsukur and
Amit Sagiv, Co-Heads of Wix
Payments. "We look forward to working with PaidBy to provide
seamless open banking solutions to our UK merchants."
Merchants will benefit from same-day payment to their ISX-issued
account 365 days per year, better assisting them to ultimately
deliver products and services to their customers faster. "
Learn more about PaidBy® for Wix merchants here:
www.paidbybank.com
About ISX Financial:
ISX Financial EU PLC is a 'banktech' company that leverages its
own technology to provide financial services to merchants across
the EEA & UK. The company's combined payments stack and
infrastructure provides a complete end-to-end transactional
banking, FX, remittance and payment processing capability. ISX
Financial's multi-Currency IBAN accounts coupled with PaidBy®'s
instant open banking provides merchants with a tailored payment
solution to reach any UK or EEA bank account holders.
CONTACT: Jamie Ktenas, media@isxfinancial.com, +35722 0157
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