The UK Payments fintech Ordo, has announces that its new secure, low-cost payments app is now seamlessly integrated with the UK’s leading accounting packages, Xero, Sage and QuickBooks. This integration, enabled by Codat, will allow for ongoing communication between the Ordo app and accounting platforms, saving users valuable time and money.
Ordo is the UK’s first interoperable Open Banking request-for-payment service, which has just integrated with the big three accounts package. It means that small businesses who use QuickBooks, Sage and Xero can now save around 80% on their payment costs as well as their valuable time – all while being easy to use. Businesses can use Ordo to send their invoices in a way that virtually eliminates fraud, and collect payment instantly.
UK small businesses spend on average 1% – 4% on receiving each cash, cheque or card payment. This equates to around £6 on a £200 bill. In addition to this, business owners also spend nearly 10 hours every week on accounts-based tasks like reconciling payments received.
Through using Ordo, businesses can send their invoices securely, without the fear of being hacked, to collect payment instantly – and all without waiting the usual three working days for card payments to clear or eWallets to verify accounts. Plus, the platform gives customers control of their payments by showing exactly who they’re being asked to pay, all from a few taps on their phone.
Once authorised by the customer, the payment goes straight from the customer’s bank account, where Ordo pre-populates the payment ready to go (saving time), straight to the bank account of the person they’re wanting to pay.
Once the customer has paid, Ordo money moves immediately to the business bank account and the customer is credited instantly. It is a payment service that guarantees security, doesn’t hold your money and makes everything from invoice sending, phone notifications and payment, instant and direct.
Ordo Co-founder and Fliss Berridge, said “It’s worth shopping around. New services like Ordo can not only save you money with your payments, but make it easier to stay on by showing you in real-time, who’s paid and who hasn’t. No more crawling through bank statements late into the night.”
Pete Lord, CEO at Codat said: “Codat is committed to making life easier for small businesses. During these challenging times, it is more important than ever that businesses have access to great, affordable financial products such as Ordo. We are delighted to partner with them to deliver a seamless process for the paying of invoices and reconciliation of payments directly in their Xero, Quickbooks and Sage platforms.”