Ecommpay wins award for innovative secure payouts solution
Ecommpay has secured the Best Consumer Payments System category at the PayTech Awards in London for its recently launched Payouts via Hosted Payment Page solution.
The award recognises Ecommpay's new approach to processing payouts to payment cards and for deposits made to digital wallets such as Apple Pay and Google Pay. As an industry first, the Payouts via Hosted Payment Page solution enables businesses to execute payouts without requiring knowledge of the beneficiary's card or payment details, with Ecommpay handling sensitive payment data on behalf of clients.
This approach means that companies are not directly involved in managing sensitive financial information, reducing the complexity and compliance requirements typically associated with handling such data. As a result, businesses can dedicate more resources to core operations and enhancing customer service.
Platform capabilities
The hosted payment page can be tailored for varying payout requirements using Ecommpay's Payment Page Designer, which is accessible through its central Dashboard. This allows merchants to create customised payment experiences to suit specific business needs, while managing payouts to cards or digital wallets efficiently.
Moshe Winegarten, Chief Revenue Officer at Ecommpay, commented on the significance of the recognition received from the PayTech Awards.
"This latest success at the PayTech Awards underlines our continued focus on innovation to solve the big pain points faced by our merchant customers. Our teams are continually pushing the boundaries within the payments landscape to make a real difference for merchants and their customers and this latest Award win highlights that commitment."
The new payout solution is designed to address the challenges businesses face when needing to send funds without full beneficiary information, streamlining the process and offering additional flexibility for merchants in sectors that require frequent outbound payments.
Reducing compliance burden
By acting as the intermediary and assuming responsibility for sensitive payment data, Ecommpay's solution is intended to reduce the compliance and regulatory burdens that often come with payment operations. This in turn allows merchants to focus more on customer engagement and service delivery, rather than on navigating complex data protection regulations.
Ecommpay has incorporated this payout capability as part of its broader payment platform, which offers global and local acquiring, over 100 payment methods, and a range of payment processing and orchestration tools. All functionalities are available via a single API, according to company statements.
The company has placed emphasis on enabling clients to automate and orchestrate payments, including open banking, recurring billing, and direct debits, all of which are directly integrated into the Ecommpay platform. This approach aims to streamline operations and reduce the need for third-party solutions.
Industry context
Payment platforms globally have increasingly sought to provide streamlined solutions to businesses navigating a complex regulatory environment, especially as digital wallet usage and the variety of payment methods expand. Ecommpay's awards recognition reflects a broader industry trend towards solutions that help businesses navigate compliance and operational efficiency in payment processing.
Ecommpay, which is headquartered in London, is authorised by the Financial Conduct Authority under the Payment Services regulation 2017 for the provision of payment services. It also holds principal membership with Mastercard and Visa, and its payment platform is certified to Level 1 PCI DSS.
