The high-value nature of fine food products results in specialist wholesalers often processing transactions in the thousands or tens of thousands of pounds.
Payments taken using business bank cards incur a charge of 1-2%, so it's easy to see how these costs add up quickly over time.
EchoPay open banking payments cost a few pence, making open banking one of the best ways wholesalers can save money and boost profits.
EchoPay payments can be processed via a QR code or link that takes wholesale customers to a bespoke website, designed using your branding. Payments can then be processed in a matter of seconds.
Fine food wholesales can process payments in depot using a Clover handheld terminal. At the point of purchase, a QR code can be generated, which customers can scan with their mobile phone to pay.
We work with the industry's most widely used tilling and payment providers, such as STL Technology Solutions, Merlin and Sanderson Swords. Wholesalers working with these businesses receive EchoPay services as standard.
"Working with EchoPay is a no brainer. We take hundreds of card payments and paying 50p per transaction is much better than 2%.
"We’d heard some great feedback about EchoPay from our peers within Unitas,. It sounded too good to be true, but as we started to weigh it up, we realised there was no option not to do it.
"The onboarding process was simple and the team at EchoPay gave us plenty of support with marketing artwork and educational materials to help us communicate the new payment method to our customers."
"As cost pressures continue to rise in the wholesale/convenience channel, it’s becoming extremely difficult to continue to offer great margins that our retailers need.
"We have been looking at ways to reduce our controllable costs and EchoPay has been one of the biggest successes.
"It really is a frictionless method to pay with payments at UWS now over £250,000 a year we can use this saving to keep our prices down for our retailers.”