Access PaySuite acquires Ordo’s Open Banking infrastructure

§ 01 Executive Snapshot

What: Access PaySuite acquires Ordo’s Open Banking infrastructure to enhance its payment acceptance capabilities.
Who: Access PaySuite, a division of The Access Group, and Ordo, a UK payments platform.
Why it matters: This acquisition allows Access PaySuite to merge payment initiation with real-time account data, enhancing their payment solutions and addressing financial needs more effectively.

Access PaySuite now fully owns its core payment infrastructure, integrating cards, direct debit, and Open Banking.
The acquisition leads to lower acceptance costs, faster settlement, and enhanced reconciliation data for users.
Variable Recurring Payments (VRP) will be enabled, providing a real-time alternative to direct debit.

The acquisition aligns with the UK's National Payments Vision, emphasizing the evolution of payments through Open Banking.
Historically, payments have been seen as a utility; this acquisition positions Access PaySuite to leverage payments for driving better financial outcomes.

Immediate market impact includes improved operational efficiency and cost reductions for organizations utilizing Access PaySuite's services.
Long-term implications involve the transformation of payment processes and financial service offerings, resulting in enhanced user experiences and outcomes.

Potential regulatory challenges in acquiring FCA permissions for payment initiation and account information services.
Competition from other payment platforms that may also seek to integrate Open Banking capabilities.

Key milestones include the timeline for obtaining FCA permissions and the rollout of Open Banking features across Access PaySuite’s platforms.
Future developments to watch include the adoption rates of the new payment solutions and their impact on recovery rates and customer satisfaction.

§ 07

What did Access PaySuite acquire?

Access PaySuite acquired Ordo’s Open Banking infrastructure to enhance its payment acceptance capabilities.

Why is the acquisition of Ordo significant?

The acquisition allows Access PaySuite to merge payment initiation with real-time account data, improving their payment solutions.

How will the acquisition impact payment processes?

It will lead to lower acceptance costs, faster settlement, and enhanced reconciliation data for users.