Open Payments was designed specifically for organisations who need to distribute funds to their customers promptly and securely. For example, when sending cheques to customers they must often wait for cheques to clear before they can access the funds our Open Payment solution fixes this issue .*
We can offer three flexible options to support our clients to distribute their funds to beneficiaries efficiently. By providing these versatile solutions, we ensure that beneficiaries can access their funds quickly and without unnecessary delays.
OpenPay
With Open Banking, you can instantly transfer up to £1,000 to recipients' bank accounts without storing their bank information. Payments links are sent via SMS, email or letter, allowing for instant redemption. Clients can also make use of our Confirmation of Payee service as part of this transaction to ensure funds are sent to the intended recipient bank account.
Cash Out
Using vouchers supplied by SMS, email or post, beneficiaries can receive multiples of £100 vouchers from over 30,000 PayPoint locations throughout the UK. Vouchers can also be used to obtain credits to be applied to pre-payment (or "pay as you go") energy meters.
Love2shop essentials vouchers
Beneficiaries can be issued an Essentials e-Code (up to £500) by SMS, email, or post. This may be redeemed for shopping vouchers at various retailers, which can be used to purchase necessities such as food, clothes, and household items.
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*Our OpenPay solutions is provided by PayPoint Payment Services Limited an authorisation payment institution.