ISX Financial launches PaidBy checkout product for Wix merchants

By Gloria Methri

ISX Financial, the developer of PaidBy open banking payment platform has partnered with global SaaS platform Wix.com to create, manage and grow its online presence. The partnership will allow Wix’s UK-based merchants to access PaidBy and offer easy bank payment options to their customers.

PaidBy enables customers to make payments in as little as three steps, all from the trusted environment of their banking app or web portal. It starts with an automated online onboarding system, which enables UK merchants to complete their onboarding and Know Your Business process in minutes.

PaidBy utilises the UK’s open banking network, which connects the UK’s largest banks, enabling them to move money between accounts in seconds. As cash flow is critical, Wix merchants in the UK will have access to their funds the same day. PaidBy payment infrastructure further enables higher conversion rates with fewer chargebacks in a safer and more secure environment for merchants and their customers.

Managing Director & CEO of ISX Financial, Nikogiannis Karantzis said, “ISX Financial is thrilled to be partnering with Wix, on our full open banking orchestration service that competes with online card scheme processing. This mass application of Open Banking coupled with ISX-issued sort code-based merchant accounts and a full API-driven notification service is unique, and innovative and will deliver real benefits for customers and merchants alike and delivers the ease and flexibility that Wix is famed for.”

Volodymyr Tsukur and Amit Sagiv, Co-Heads of Wix Payments said, “We are constantly finding new ways to support our merchants to provide them with innovative tools for business growth. This enables them to extend their online footprint and deliver exceptional service to their customers. We look forward to working with PaidBy to provide seamless open banking solutions to our UK merchants. They will benefit from same-day payment to their ISX-issued account 365 days per year, better assisting them to ultimately deliver products and services to their customers faster.”