Boodil offers a Pay by Bank payments platform that utilizes open banking technology to facilitate instant settlements and reduce payment fees for businesses. This solution enables merchants to provide a seamless checkout experience while allowing customers to make secure, cardless payments without the need for storing card details.
Funding
$540K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional payment methods often involve high transaction fees and delayed settlement times for businesses. Customers are also required to share and store sensitive card details, creating security and privacy concerns.
Solution
Boodil provides a Pay by Bank payments platform that leverages open banking APIs to facilitate instant settlements and reduce payment fees for businesses. The platform enables merchants to offer a frictionless checkout experience by allowing customers to make secure, cardless payments directly from their bank accounts. Boodil's solution integrates into existing payment ecosystems as an alternative payment method, offering a fully branded and customized payment portal, payment links, and dynamic QR codes for in-person payments. The platform also provides a merchant dashboard for enhanced payload information and reconciliation.
Target Audience
Boodil targets eCommerce businesses, travel companies, automotive dealerships, professional service providers, and businesses with collection functions.
Features
- Pay by Bank payments via open banking APIs
- Instant settlements of funds
- Reduced payment fees compared to cards and other alternative payment methods
- Fully branded and customized payment portal
- Payment links and dynamic QR codes for in-person payments
- Merchant dashboard for enhanced payload information and reconciliation
- eCommerce plug-ins and copy-and-paste integration options
- Support for UK, Netherlands, France, Spain and Portugal banks