Ordo

Ordo offers an open banking payment infrastructure platform for enterprises to request payments (request to pay) through call centers, email, and messaging platforms. Accordingly, the platform facilitates ecommerce and online payments, recurring (fixed and variable) and one-time bill payments, refund payouts, and POS payments, among others. By using Ordo, merchants can receive payments directly from bank accounts, without accessing customer bank details.

Ordo can be integrated with several accounting platforms, including QuickBooks, Sage, and Xero. Users can also send invoices and request payments through these platforms or choose to use APIs to receive payments. The platform was also integrated with over 20 leading global and European banks, including Barclays, HSBC, NatWest, and Santander, as of October 2022.

The company follows a pay-per-use business model, charging users 20p (GBP 0.20) per transaction, regardless of the value of the transaction. By charging users on a per transaction basis, without any fixed charges, Ordo claims it enables businesses to save 80% of their payment processing costs.

Key customers and partnerships

Ordo caters to businesses of all sizes, ranging from sole traders to large enterprises. The company also partnered with another British banking infrastructure provider Yapily in April 2020, to launch its “Neighbour2Neighbour” initiative, enabling small businesses and volunteers to receive payments/fund transfers during the Covid-19 pandemic.

Funding and financials

Ordo raised GBP 10 million (USD 11 million) in Series A funding in October 2022, led by Equinox Systems.