Faster Payments

Payments Provider Contis Teams With UK FinTech Ordo On Real-Time Payments

European payments provider Contis is partnering with U.K.-based FinTech Ordo to help speed up bank transfers for businesses, simplify loan repayments and more, according to a press release.

Contis works in real-time payments, while Ordo has been working to simplify the process of getting paid through safe bank transactions and automatic tracking for payments, the release stated.

Together, the companies will work on simplifying loading accounts. The release stated the partnership will work to streamline repaying loans, fund transfers between contacts and divide bills among friends.

The release also touts Contis' ability to help companies build customized solutions to help with cloud-based payments needs, citing choice and functionality as two of the qualities that will be available.

Contis CEO and Founder Peter Cox said in the release that the partnership would work to "bring instant remittances and automatic reconciliation to businesses and account holders alike."

"At a time when finances are tight for many, the benefits of quick and secure digital money transfer are especially welcome," he said, according to the release.

And Ordo CEO Craig Tillotson said in the release that both teams want to use technology and service innovation to help boost the end-to-end process.

"Our partnership with Contis means that even more businesses and their end customers can quickly start to benefit from Ordo's revolutionary open banking enabled Request for Payment service, lowering costs, improving efficiency and delivering simpler and safer payments for end customers," he said, according to the release.

In August, Contis partnered with Currencycloud to boost international payments to 1 million accounts, PYMNTS reported.

With the partnership, the two companies will offer conversion of the British pound to over 30 currencies and let them transfer cash to more than 50 countries on five continents. Currencycloud Sales Director Lewis Nurcombe said there is a need for easy and fast international payments as digital payments in general grow more ubiquitous.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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