Ecommpay shortlisted for Open Banking Expo Awards nomination

Ecommpay has been shortlisted in the Open Banking Expo Awards in the Best Industry Partnership category. This recognition highlights the payments platform's efforts to deliver open banking solutions for online merchants.

According to the company, the winners will be announced on 15th October 2024 at the Awards ceremony following the first day of the UK & Europe Expo at the Business Design Centre in London.

Ecommpay has aimed to make open banking more accessible and cost-effective for online merchants, improving both sales conversion and volumes. The company's collaboration with Neo Finance has facilitated extending open banking benefits to merchants. This partnership allows merchants to offer diverse payment options without needing to establish separate bank accounts for each jurisdiction in which they operate. This move underscores Ecommpay's commitment to financial inclusivity.

Chief Revenue Officer of Ecommpay, Moshe Winegarten, expressed his satisfaction with the nomination. He stated, "We are delighted that our work with Neo Finance has been recognised in the Open Banking Expo Awards."

Winegarten elaborated on the company's mission: "Ecommpay was founded on a vision to revolutionise the digital payment landscape for e-commerce. Developing our own in-house-built open banking solutions is a clear demonstration of that commitment—extending the choice of payment options for merchants to increase sales conversion."

"Our partnership with Neo Finance illustrates Ecommpay's innovative problem-solving ethos, extending the accessibility and advantages of open banking to more merchants, and with greater functionality, all delivered through an API for limited implementation requirement. Critically, being able to add open banking to merchants' payment options enhances sales conversion potential."

Ecommpay notes that its focus on financial inclusivity is key to its strategy. By providing a single API that allows for the integration of various payment options, including open banking, the company aims to streamline operations and reduce costs for merchants. This approach is intended to eliminate the need for third-party systems, minimising friction and optimising every transaction for maximum value.

The company's nomination for the Open Banking Expo Awards comes at a time when the demand for diverse payment options is increasing. Open banking, which allows for greater financial transparency and efficiency, is seen as a crucial element in the modernisation of financial services. The Best Industry Partnership category specifically acknowledges organisations that have demonstrated innovation and efficiency in delivering open banking solutions.

Earlier this year, Ecommpay was also involved in several other initiatives to promote financial inclusivity. These include the integration of over 180 payment methods and the introduction of comprehensive payment processing and orchestration capabilities. The company's ongoing efforts aim to empower businesses and drive global growth.

The 2024 Open Banking Expo Awards will further validate the efforts of companies like Ecommpay that are committed to advancing the digital payment landscape. The event is expected to attract significant industry attention and will be a platform to showcase the most innovative solutions in the field.