Ecospend agrees partnership with QR-code based payment service app

Open Banking payment provider Ecospend, has announced a partnership with QR-code based payment services app, PENG.

The partnership will enable PENG’s small business customers to benefit from Open Banking services in the form of free transactions and enhanced security.

Founded in 2017, Ecospend’s ‘Pay-by-Bank’ technology aims to harness the benefits of Open Banking for businesses. In the year to date, Ecospend has already processed volumes exceeding £5bn.

PENG is designed specifically for small businesses seeking to migrate towards emerging payments systems in order to create greater time and cost efficiencies as they look to resume service following the pandemic. PENG’s customers will be able to benefit from Ecospend’s instant payment capabilities. 

James Hickman, Ecospend’s Chief Operating Officer, said “We have enjoyed an excellent relationship with James and Simon who are highly regarded within the industry and we know their leadership will be instrumental to PENG’s success.”