Through Moneyhub’s integration, merchants using BR-DGE’s payment orchestration platform can now offer customers Open Banking as an alternative payment method
With the potential to reach thousands of merchants, the deal is set to accelerate mass adoption of Open Banking payments, lower payment transaction fees, whilst reducing the need for card payments, direct debit, and standing orders
With nearly 80% of the UK population now using mobile and online banking, Moneyhub’s SCA compliant Open Banking payments can help to greatly reduce fraud
The partnership signals another milestone for BR-DGE in its ambition to use payment orchestration to solve payment issues for a wide range of platforms and merchants
Edinburgh, Tuesday 14 December 2021 – Payment orchestration provider BR-DGE has formed a strategic partnership with market-leading Open Data and payments platform Moneyhub to accelerate the use of Open Banking payments to provide a new seamless digital way to pay.
BR-DGE will integrate Moneyhub’s Open Banking technology into its platform, which acts as a single point of integration for a world of payment options. This means merchants no longer need to pick and choose between one or two payment providers at great cost and administrative burden. Offering greater choice and flexibility for merchants also increases the likelihood of payment success due to removing over reliance on a small number of payment providers.
Merchants using BR-DGE can now offer customers Open Banking as a payment method. This allows them to transfer funds directly from their bank account to the merchant’s bank account, rather than having to use a card or a PayPal account.
Benefits of Open Banking for merchants and consumers include reduced card transaction fees, instant payment settlement, better user experience, and increased security. Consumers can pay online without fear of having their card details stolen and merchants can take advantage of this Strong Customer Authentication (SCA) compliant payment option.
For Moneyhub, the partnership is a key step forward in its vision of enhancing financial wellness for people, their communities, and their businesses. Open Banking payments provide more choice and let consumers and businesses decide what works best for them.
Discussing the partnership, Brian Coburn, CEO at BR-DGE, said “Through Moneyhub we are pleased to be integrating Open Banking into our payment orchestration platform. Providing access to a world of traditional and innovative payment solutions through the click of a button is the future of payments. Offering Open Banking as part of this is a key piece of this puzzle.
“We are on a mission to put payment power back in the hands of merchants and their customers, and we believe the scale and impact of failed payments has largely been brushed under the carpet. We look forward to working with Moneyhub to improve merchant profitability and financial control for their customers.”
Sam Seaton, CEO at Moneyhub added “We are thrilled to partner with BR-DGE by rolling out Open Banking payments to the many. Both merchants and consumers have so much to gain from bank-to-bank payments -- security, speed, efficiency, and cost. Scaling up payments is a truly vital task and partnering with BR-DGE further enhances consumer options.”
Contacts
Georgina Rudkin, Director, Engine MHP
Georgina.rudkin@mhpc.com
07731 009266
Kanayo Agwunobi, Senior Account Executive, Engine MHP
Kanayo.agwunobi@mhpc.com
07702681451
Ingrid Anusic, Marketing Director, Moneyhub
ingrid.anusis@moneyhub.com
0783 722 6553
About BR-DGE
BR-DGE is on a mission to shift power and control back to merchants because payments have become too complicated, inflexible, and restrictive. Pushing the boundaries of payment technology, BR-DGE has built an independent payment orchestration platform that’s simple to integrate and easy to adopt, enabling merchants to build resilience, consolidate reporting and innovate at speed. In an increasingly competitive and complex payment landscape, with fast-evolving customer demand, BR-DGE ensures merchants deliver a streamlined end-to-end payment experience.
About Moneyhub
Moneyhub is a global ISO certified developer of software used for Open Banking, Open Finance and Open Data applications. Its regulated open data platform enables companies to quickly and easily initiate payments and transform data into personalised digital experiences. Moneyhub’s APIs and fully customisable platform provide data aggregation, insights, notification nudges, and payment systems. As a result, clients have the consent-driven data they need to create super-personalised offers, products, and services. Hundreds of organisations, spanning finance to media and retail, rely on Moneyhub’s award-winning technology.
For more details, please visit https://www.moneyhubenterprise.com/