This post was originally published on The FinTech Times
PayDo, the UK-licensed Electronic Money Institution, has officially launched new customer-to-business (C2B) settlement accounts. The new feature, housed within its all-in-one electronic money solution, is designed to help merchants accept and rapidly settle payments made directly from customers’ bank accounts.
The rollout expands PayDo’s payment capabilities beyond the standard business-to-business (B2B) services typically offered to online merchants. Built specifically to handle open banking payment flows, the C2B accounts are designed to reduce settlement delays, eliminate the need for manual payment requests, and provide merchants with instant payment confirmations.
Settling in under two seconds
The operational efficiency of the new accounts relies on speed. When a customer selects a pay-by-bank option at a digital checkout, the payment is initiated through their personal banking app and transferred directly into the PayDo ecosystem.
Once the funds are received by the system, they are settled directly to the merchant’s business account in under two seconds. The merchant is then provided with an immediate notification that the funds have cleared.
By supporting these direct C2B bank payments, PayDo aims to help merchants improve their overall settlement speed, simplify their day-to-day payment operations, and gain greater visibility over
— Read the rest of this post, which was originally published on The FinTech Times.
