Ecospend is looking to drive account-to-account payments into the mainstream via an open banking-only competition on national television network ITV.
The competition, live today, will give ITV viewers the opportunity to win £10,000 and will be one of the first times people in the United Kingdom can only pay to enter a competition via Ecospend's open banking payments product. The winner will be chosen in a prize draw and called live on air to receive their bounty.
Earlier this month, Ecospend revealed that more than one million customers made payments through its Pay by Bank technology to make over £3.3 billion in tax payments to HMRC since the start of 2024 - in part thanks to the Self-Assessment tax deadline on the 31st January.
After winning the HMRC contract, Ecospend has since expanded its offering to more customers across a wide range of industries, including wealth management, e-commerce, travel, utilities, and the public sector. Clients in the UK already include Hargreaves Lansdown, NS&I, JJ Foods, Whiskey Investment Partners and Anglian Water.
James Hickman, CCO of Ecospend, comments: “We are delighted to have teamed up with ITV Win to launch this competition, which we hope will drive awareness and understanding of Pay-By-Bank across the UK. While this is one of the first open banking-only giveaways, it certainly won’t be the last. We wish all entrants the best of luck, and look forward to congratulating the winner.”