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Wonderful Payments ships open banking-based POS app for UK businesses

Source: Wonderful

Wonderful Payments, an FCA-authorised Open Banking provider, is delighted to announce the launch of a simple, user-friendly point-of-sale mobile app for UK businesses.

The One app takes full advantage of Wonderful’s slick, instant bank payments, allowing merchants to process unlimited transactions - both in person and remotely - for a single subscription fee of £19.99 per month.

Its first release allows businesses to use Open Banking to take direct payments for products and services or bill hours, and view a dashboard with order, payment and customer history. QR codes can be shown to customers for face-to-face transactions, whilst secure payment links may be shared via other channels including SMS, email and WhatsApp for payments where the customer is not present.

Providing a highly competitive alternative to traditional card payments, One brings instant settlement, improved security, and minimised data entry to the payment experience. Wonderful’s inclusive subscriptions also eliminate percentage-based transaction fees, offering businesses substantial savings on processing fees, especially on high-value transactions.

Wonderful is synonymous with social responsibility. With CSR baked into the organisation’s model and origins, its Open Banking payment technology was first developed to challenge the notion that fee-free fundraising was impossible. The online giving platform it operates at Wonderful.org epitomises the tech-for-good movement and saves charities thousands of pounds on processing and platform fees, which can instead be sent directly to the causes that need them.

“Since 2016, Wonderful has enabled fundraisers and donors to raise millions of pounds for UK charities with no deductions whatsoever. Now, businesses and their customers will extend Wonderful’s reach and impact whilst enjoying the speed, simplicity, security, and savings the One app delivers,” said founder, Kieron James.

“We are very excited about the app. It reflects the talent of a dedicated team to bring payments innovation to businesses, significantly reducing processing fees at a time when everybody is very focused on cost saving,” added James.

Wonderful will continue to build on its commercial services throughout 2023. Soon, integrations with eCommerce platforms such as WooCommerce will allow online store owners to take advantage of Wonderful’s instant payments, whilst supporting vital charitable causes at no extra cost.

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