EchoPay, the leading open banking payment provider for wholesale, distribution and cash & carry, is improving customer experience and reducing payment costs for foodservice wholesalers across the UK.
Open banking enables foodservice wholesalers to process payments quickly from their customers using secure, encrypted channels. The technology also helps to prevent fraud and telesales staff benefit from a simpler payments process, which helps eliminate human error and therefore offer a better service.
Foodservice wholesalers’ customers benefit from a payment solution that is more convenient to use. Payments can be taken using a mobile via web links sent via their preferred communication method, such as email or WhatsApp.
Payments can also be processed face to face, either in depot or at the point of delivery, using handheld Clover terminals. These terminals generate a unique QR code, which can be scanned by a customers’ mobile, where they can pay via a wholesaler-branded mobile-first website.
While food inflation fell to 7% in January[1], it remains higher than at any point since 2017. This is causing a significant squeeze on foodservice profits, as wholesalers and outlets juggle keeping costs down with offering quality food and experiences that consumers are happy to pay more for. But foodservice businesses are still paying fees of 1-2% on each business card transaction, which make up the majority of payments.
EchoPay open banking processes digital payments for a fraction of the cost.
Here’s how four foodservice wholesalers are improving their customer experience with EchoPay:
N and B Foods – Vivek Odedra, Director
We have been using EchoPay for eight months and it has really improved how we get paid. Our customers love it too as they can pay from their phone with a couple of taps on the screen. The email notifications are useful to us as we know instantly when we are paid out of normal working hours, especially at weekends!
Fresco Foodservice – Allan Dursun, Director
Our website has EchoPay integrated as the default payment method. As a catering wholesaler delivering hundreds of orders a week, the ability that EchoPay gives us to get paid instantly 24 hours a day has really made our lives easier.
DIBS Distribution – David Payne, Sales Director
We deliver more than 1,000 orders a week across the UK and have EchoPay embedded into our app as a payment method. We’ve seen customer interest increase rapidly since launch and we’re benefiting from an easier solution, alongside cost savings.
RD Johns – Faye Brookes – Office Manager
We have been able to really improve our customer experience when they pay. The ability to see exactly when an invoice is paid via the email notification has made our reconciliation much easier in depot. This really helps with next day deliveries, which are common in foodservice.
James Ward, EchoPay founder, who held senior positions at wholesalers including AC Ward & Son and Forward Wholesale, said: “We’re proud to be supporting the fast-moving and dynamic foodservice wholesale channel with a market-leading open banking system that improves customer experience and reduces costs.
“Underpinned by Token.io’s connectivity infrastructure for account-to-account payments, EchoPay offers a secure service that protects businesses from fraud and human error. We encourage any foodservice wholesaler who is interested in open banking payments to get in touch.”
EchoPay is urging foodservice wholesalers to analyse the payment solutions they offer and ensure they are providing their customers with choice.
[1] UK Government figures 2024
[2] Lloyds Bank 2022 report
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