Access PaySuite has agreed to buy the Open Banking infrastructure of Ordo, a UK payments platform, in order to complete its payment acceptance layer across cards, direct debits and Open Banking.
Access PaySuite reported that the acquisition will give it full ownership of its core payment infrastructure as well as the ability to combine payment initiation with real-time account data.
For arrears management, combining payment capability with live financial data allows housing providers to identify genuine cases of hardship earlier, tailor their recovery approaches to individuals’ circumstances and offer repayment options at the point of contact. For affordability assessments, it will replace self-reported figures with verified account data at the point of application, and for hardship planning, it will support earlier interventions before tenants’ accounts deteriorate.
Giulio Montemagno, managing director, Access PaySuite, said, “We’re embedding Open Banking across our platforms, thereby blending payments with financial intelligence to tackle genuinely hard problems.
“That’s where payments stop being a mere utility and start driving real outcomes, such as more revenue recovered, lower costs to serve and better financial lives for people on the other end of every transaction.”
