Access PaySuite acquires Ordo's open banking technology infrastructure

Access PaySuite has acquired the infrastructure of Ordo, a move that signals a push toward wider adoption of 'Pay by Bank' technology. For retailers, this acquisition matters because it simplifies how you collect payments. Open banking allows customers to pay directly from their bank accounts without needing a credit or debit card. This process is often faster and cheaper for the merchant than traditional card processing. By absorbing Ordo’s technology, Access PaySuite is positioning itself to offer more seamless bank-to-bank transfers. This is especially useful for service-based businesses or high-ticket retailers where card fees eat into thin margins. In the evolving financing landscape, open banking also plays a huge role in instant credit decisions. It allows lenders to see real-time cash flow data rather than relying solely on lagging credit scores. If your business uses Access PaySuite, expect new features that allow you to request payments via QR codes or secure links, bypassing the high costs of the traditional card networks. This technology is becoming a standard alternative to BNPL or credit cards for savvy consumers.

Source: Finextra — Lending

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