PayDo Launches C2B Settlement Accounts to Accelerate Pay-by-Bank Transactions
PayDo launched C2B settlement accounts to enable merchants to accept and settle pay-by-bank transactions in under two seconds.Summary
PayDo, a UK-licensed Electronic Money Institution, has introduced new customer-to-business (C2B) settlement accounts designed to expedite payments directly from customers’ bank accounts to merchants. This feature expands PayDo’s services beyond traditional business-to-business (B2B) offerings, focusing on open banking payment flows to minimize settlement delays and eliminate manual payment requests.
The system operates with remarkable speed, settling funds to merchants’ accounts in under two seconds upon customer initiation through their banking app. Merchants receive immediate notifications upon fund clearance, enhancing visibility and control over incoming payments. According to Serhii Zakharov, CEO and founder of PayDo, this development moves open banking from a possibility to an “operationally effective” solution for businesses handling large payment volumes.
The launch addresses growing demand for payment alternatives that offer a seamless user experience, faster settlement times, and reduced operational costs compared to traditional card payments. Built on Payment Initiation Services technology, the solution integrates within PayDo’s existing ecosystem, allowing merchants to manage funds, pay suppliers, and execute global transactions from a single platform. PayDo continues to provide merchant accounts and checkout services with Visa and Mastercard acquiring, alongside access to over 350 alternative payment methods.
(Source：The Fintech Times)