We’re at the forefront of cutting-edge industry initiatives to make the latest innovations available to our customers.
Payment Initiation will enable businesses across acquiring, eCommerce, property and alternative banking to settle faster, reduce the risk of fraud and offer a cost-effective alternative to traditional card services.
Our Payment Initiation Service is plugged in to most major UK banks with European banks to follow.
Settle and reconcile in real-time
Payments settle in real-time with receipt notification, rather than the 3 days taken under card payment alternative, meaning better cashflow.
Lower acquiring costs
The card payment alternative is prone to expensive fees and fraud. Unlike other PIS providers, Modulr only charges per successful transaction.
Customers authenticate through their own bank, meaning a lower rate of fraud or chargeback process.
Take the doubt out of payments. Confirmation of Payee, powered by Modulr, enables you to verify payees by API and in the portal before you make a payment. Receive real-time match results and set automated rules for seamless processing.
We will be among the first service providers to support the new Confirmation of Payee scheme run by Pay.UK launching in 2020, which validates account details.
Lenders, we will also offer a standalone Confirmation of Payee API to check payee details before disbursing loans.
Reduce the risk of authorised push payment (APP) fraud. APP fraudsters steal £200m every year.
Customer peace of mind
Fight back against accidental or incorrectly entered bank details.
Make Faster Payments safer
With ever shrinking settlement windows, you need a way of protecting customers without delaying accurate payments.
Request to Pay allows you to request payments, communicate with customers, reduce collection costs and automate manual invoicing.
Our Request to Pay service accessed through one API provides your customers with a flexible way to pay bills. By making it easier to pay their bills, you’ll boost retention and deliver outstanding customer experiences.
Communicate with any merchant or customer holding an activated account with the UK Request to Pay service, currently planned to launch in Q2 2020.
Real-time payments plumbed into your software
Send and receive money in near real-time. Payments arrive in seconds, with 24/7 access and support.
Customers can now choose how and when they pay, allowing customers to pay when they have the money.
Reduce collection costs
Customers can divide their payments, which increases their chances of paying on time and minimises the cost involved in debt collection.