Corporate payments services company Bottomline Technologies has introduced a mobile solution that would allow U.K businesses to pay customers quickly and directly.
Bottomline partnered with Paym and Barclays’ Pingit, each of which has more than 3 million registered mobile payments users. More than $2.8 billion has been transferred over Pingit to date, said Darren Foulds, managing director for Pingit, in a May 9 news release.
“It’s a payment option that will provide extra security, as well as greater speed and convenience for businesses and their customers,” he said.
Bottomline framed the offering as one that would open immediate customer reimbursement through mobile payments, remove the need for customers to hand over sensitive personal bank account information and make a lengthy check process more efficient.
“This fully automated solution can be especially attractive to businesses such as those in the utility and insurance sectors that still rely on high volumes of costly check generation,” Richard Ransom, product marketing manager, said in the release. He added that the product could improve levels of customer engagement and satisfaction. “For example, in the case of Pingit, all recipients will be notified of their payment via an SMS or app alert,” he said.