The average transaction in wholesale is £1,800, which means businesses are paying £18 on each card payment they process.
EchoPay payments cost a matter of pence, making open banking one of the best ways wholesalers can save thousands a year.
EchoPay open banking payments can be processed via a QR code or link that takes your customers to a bespoke website, designed using your branding. Payments can then be processed in a matter of seconds.
Payments can also be processed in wholesale 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.
Our support doesn't stop when you sign up with us. EchoPay helps champion the benefits of open banking to your customers to encourage them to switch. We provide loyalty schemes that wholesalers can use to promote EchoPay to their customers.
"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.”