Ordo provides a secure, cloud-based open banking payment platform that enables businesses to process payments directly from customer bank accounts, significantly reducing transaction costs compared to traditional card payments. The platform offers features like instant money transfers, automated payment referencing, and customizable interfaces, addressing the inefficiencies and high fees associated with conventional payment methods.
Funding
$11.2M 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 like cards and direct debits often involve high transaction costs and delays in payment processing for businesses. Reconciliation processes can be complex and time-consuming due to manual payment referencing and potential for lost payments.
Solution
Ordo provides a cloud-based open banking payment platform that enables businesses to receive payments directly from customer bank accounts, reducing transaction costs and improving efficiency. The platform offers instant money transfers, automated payment referencing, and a white-labeled interface for customized branding. By leveraging Open Banking APIs, Ordo facilitates real-time payment processing and eliminates the need for customers to share card or banking details, enhancing security and reducing regulatory burden. The platform supports various payment options, including secure tokenized links, "Pay Now" buttons, and QR codes, providing flexibility and ease of use for both businesses and customers.
Target Audience
Ordo targets businesses of all sizes, including enterprises and SMEs, across various industries such as e-commerce, utilities, and the public sector, seeking to reduce payment processing costs and improve efficiency.
Features
- Secure, cloud-based platform hosted with bank-grade security measures
- Open API integration for swift deployment of turnkey service
- White-labeled interface for customized branding
- Real-time 24/7 money transfer via Faster Payments network
- Automated end-to-end payment referencing and account details
- Flexible payment options via secure tokenized links, "Pay Now" buttons, and QR codes
- Integration with QuickBooks, Sage, and Xero accounting software
- PCI DSS compliance abolished as no card or banking details are collected