EchoPay
EchoPay is a UK-based open banking payment processor that lets merchants accept account-to-account payments via QR code, Pay-by-Link, and Clover terminals at sub-£1 per transaction, primarily serving B2B wholesalers, distributors, foodservice, and hospitality businesses.
- Company typePrivate
- Founded2021
- HeadquartersStowmarket, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What EchoPay does
EchoPay Technology Ltd is a UK-based (Stowmarket, Suffolk) payment technology company that operates an open banking payments platform designed to displace high-cost debit card transactions with account-to-account settlements. The platform is built around Pay-by-Bank flows initiated through QR codes (online and at Clover Flex/Mini terminals), payment links delivered by email, SMS, or WhatsApp, and a unified EchoPay Dashboard providing tokenised card storage, a virtual terminal, employee access controls, and CSV-exportable reporting. Supporting capabilities include real-time commercial-card detection with automatic surcharge calculation, MoTo processing, and a Bank Connect feature that pipes account data into ERP systems for automated reconciliation. The technology stack is not AI-driven; differentiation rests on open-banking API integration, device-aware routing, and integration architecture rather than machine learning.
The business model is transaction-based: EchoPay charges less than £1 per open banking transaction, against the 1-2% levied on standard debit card payments, with revenue also generated through commercial card surcharge recovery and conventional card processing. Distribution is hybrid - self-serve via the dashboard at dashboard.a2apay.co.uk, embedded integrations through channel partners (Clover for face-to-face, Merlin and GenetiQ for ERP, STL for POS, Magento/Madison/Wida/Newline ASP for eCommerce), and direct outreach (email, phone, WhatsApp) for enterprise deals. Customer evidence spans B2B wholesalers and distributors (Dee Bee Wholesale, United Wholesale, DIBS Distribution, ABV Wholesale, RD Johns), foodservice (Indus Foods, MJ Baker), beverage wholesalers (Small Beer), and hospitality (Kentwell Hall). Documented outcomes include 29-75% reductions in merchant service costs, six-figure annual savings at larger accounts, and 50% customer conversion to EchoPay flows at Small Beer.
Governance and compliance posture is light-touch: EchoPay Technology Ltd is registered in England & Wales (company number 13176418), is GDPR-compliant under consent lawful basis, stores personal data in the EU with a 10-year retention policy, and operates solely within the United Kingdom. The company is privately held with no disclosed institutional investors, no disclosed parent, no disclosed funding rounds, and headcount in the 1-10 range. The founder and managing director is James Ward.
EchoPay firmographics
Firmographics- Name
- EchoPay
- Legal name
- EchoPay Technology Ltd
- Website
- https://echopay.co.uk
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- EchoPay is a UK-based open banking payment processor that lets merchants accept account-to-account payments via QR code, Pay-by-Link, and Clover terminals at sub-£1 per transaction, primarily serving B2B wholesalers, distributors, foodservice, and hospitality businesses.
- Ownership category
- akta.pro rank
EchoPay industry classification
Industry- Product category
- Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
- akta.pro secondary industries
- Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), POS-to-Online Unified Payments (Omnichannel Payments) (CRAFALAL), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
Keywords
Where EchoPay is headquartered
LocationHeadquarters
- HQ city
- Stowmarket
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
EchoPay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Open Banking Payment Processing: EchoPay charges a fraction of traditional debit card processing fees for open banking account-to-account transactions. Transactions cost less than £1 per transaction compared to 1-2% for standard card payments. Revenue derived from transaction fees on each payment processed.
- Commercial Card Surcharging: When commercial or business cards are detected, surcharges are automatically applied to recover the higher processing fees (over 1% above standard rates). Revenue generated through surcharge recovery.
- Card Payment Processing with Tokenisation: Traditional card payments processed through tokenisation system. Revenue from card transaction processing fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Per-transaction pricing (less than £1 per transaction) |
Go-to-market motion2 records
Distribution channels7 records
Marketing channels6 records
EchoPay product offering
Product offeringCore offering
EchoPay is an open banking payment platform that enables UK merchants — particularly wholesalers, distributors, hospitality and foodservice businesses — to accept account-to-account Pay by Bank payments and complementary card payments. The platform replaces or supplements traditional card processing with direct bank-to-bank transfers priced at a flat fee under £1 per transaction, alongside Pay by Link, eCommerce checkout, card surcharging, and a Clover POS integration.
Product overview
EchoPay is an open banking payment platform that offers a unified product portfolio centred on Pay by Bank (account-to-account) and card payment solutions. The core platform consists of the EchoPay Dashboard, Pay-by-Link, and E-Commerce payment button. Supporting modules include Card Tokenisation for repeat payments, Virtual Terminal for phone/mail orders, Card Surcharging for commercial card fee recovery, and EchoPay for Clover for face-to-face terminal payments. Integration bundles connect the platform to ERP systems (Merlin Business Software, GenetiQ) and eCommerce platforms (Madison, Wida Group, Magento, Newline ASP). All solutions leverage open banking for instant settlement and lower transaction costs compared to traditional card payments.
Differentiator
Problem solved
Functional benefit
Products and services
- Pay by Bank
Quantifiable outcome
- 29% savings on merchant service costs
- +7 more outcomes
Companies that use EchoPay
Customer profileNamed customers12 records
Segments3 records
Ideal customer profiles1 record
EchoPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature9 records
EchoPay partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and supporting.
- Merlin Business SoftwarecoreEchoPay integrates with Merlin Business Software ERP to provide automated bank reconciliation, Pay by Link functionality, Bank Connect for account data integration, and card tokenisation. The partnership enables seamless payment processing and automatic matching within Merlin's accounting system, eliminating manual ledger work.
- GenetiQcoreEchoPay integrates with GenetiQ (Intact software) enabling Pay by Link functionality directly within the ERP. Payment links can be generated and sent via email or SMS from within Intact, with automatic transaction recording and reconciliation.
- STL TechnologycoreEchoPay integrates with STL Till and Central Cash systems for Pay by Bank functionality at the point of sale. Staff can initiate payment requests directly from the till, sending secure payment links to customers via SMS or WhatsApp for authorization through their banking app. A Scottish wholesaler case study shows deployment across multiple sites.
- MagentosupportingEchoPay offers a Pay-by-Link module for Magento eCommerce stores, providing Pay by Bank as a checkout option for online customers seeking lower processing costs and secure payments.
- Madison Web SolutionssupportingEchoPay integrates with Madison Web Solutions eCommerce platform, providing Pay by Bank payment option for online retailers with seamless checkout experience.
- Wida GroupsupportingEchoPay integrates with Wida's eCommerce platform enabling customers to pay directly from their bank account as a modern alternative to traditional card payments.
- Newline ASPsupportingEchoPay integrates with Newline ASP auction management platform, enabling auctioneers to generate payment requests for successful bidders and collect secure bank payments directly within the platform.
- ClovercoreEchoPay for Clover enables face-to-face open banking payments via Clover Flex or Mini terminals. Merchants create sales, select EchoPay Custom Tender, and generate QR codes for customer scanning. Payment is completed via EchoPay WebApp with confirmation on Clover and receipt printing.
- Re-Scan EPOSsupportingEchoPay partners with Re-Scan to provide competitive pricing and first-class integration for their 400 EPoS customers, offering competitive payment processing rates and seamless integration.
Scale indicators7 records
Recent moves6 records
Expansion highlights5 records
EchoPay competitors and assessment
Company assessmentDirect peers
- TrueLayer: UK-based open banking payments platform enabling account-to-account payments and data connectivity for merchants and fintechs. Direct competitor to EchoPay in the UK A2A / Pay by Bank space, with similar API-driven merchant integration model.
- Yapily: London-based open banking infrastructure provider offering payment initiation and data APIs to merchants and platforms. Comparable to EchoPay as a UK A2A PISP targeting merchant and enterprise use cases.
- GoCardless: UK-headquartered direct debit and recurring A2A payment specialist serving SMBs and enterprise. Comparable to EchoPay as a UK payment processor displacing card rails, particularly strong with subscription and invoice-driven payments.
- Trustly: European Pay by Bank provider enabling consumers to pay merchants directly from their bank accounts. Closely comparable to EchoPay in offering low-cost A2A checkout for online and in-person merchants.
- Volt: UK-based open banking payments network enabling real-time A2A payments for merchants. Directly comparable to EchoPay's Pay by Bank offering, including QR-code and online checkout flows.
- Token.io: Open banking payment initiation and account-to-account payment platform serving banks and merchants. Comparable to EchoPay as a PISP competing in the UK/EU A2A merchant acceptance market.
Broad incumbents
- Modulr: UK payments-as-a-service provider offering account-to-account payment infrastructure to platforms and fintechs. Broader than EchoPay (B2B accounts + payments vs EchoPay's merchant A2A focus) but overlapping in the A2A rails space.
- Klarna: Global Pay by Bank and BNPL provider offering direct-from-bank checkout to consumers and merchants. Broader scale and product portfolio than EchoPay, but overlapping in the Pay by Bank merchant acceptance category.
- ClearBank: UK clearing bank offering real-time payment infrastructure to fintechs and corporates. Comparable to EchoPay on the A2A/real-time settlement dimension, though ClearBank is a regulated bank serving platforms rather than a merchant-facing PISP.
- Worldpay (FIS): Global merchant acquirer and payment processor serving UK and international merchants. Adjacent to EchoPay in the merchant card processing space and a potential partner or competitor as it adds A2A capabilities to its portfolio.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
EchoPay social profiles
Digital presenceEchoPay compliance and trust
Trust signalCompliance1 record
EchoPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
EchoPay leadership team
Management profileNumber of profiles
Profiles1 record
EchoPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
EchoPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about EchoPay
What does EchoPay do?
EchoPay is an open banking payment platform that enables UK merchants — particularly wholesalers, distributors, hospitality and foodservice businesses — to accept account-to-account Pay by Bank payments and complementary card payments. The platform replaces or supplements traditional card processing with direct bank-to-bank transfers priced at a flat fee under £1 per transaction, alongside Pay by Link, eCommerce checkout, card surcharging, and a Clover POS integration.
Is EchoPay a public or private company?
EchoPay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was EchoPay founded?
EchoPay was founded in 2021. It employs 1 to 10 people.
Where is EchoPay based?
EchoPay is headquartered in Stowmarket, United Kingdom, in the Europe region.
How does EchoPay make money?
Three revenue lines are on record. Open Banking Payment Processing is the primary driver. The others are commercial Card Surcharging and card Payment Processing with Tokenisation.
Who are EchoPay's main competitors?
Direct peers on record are TrueLayer, Yapily, GoCardless, Trustly, Volt and Token.io. Broad incumbents are Modulr, Klarna, ClearBank and Worldpay (FIS).
Does EchoPay have an API?
No public API is recorded for EchoPay.
What industry is EchoPay in?
EchoPay's product category is Payment Processing. Its primary akta.pro industry code is FSAMAFAB, A2A Payment Initiation Service Providers (PISPs), with a secondary code of FSAMAFAC, Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant). Its NAICS code is 52232 and its SIC code is 6199.