Checkout.com partners with payment fintech NewDay
Globally leading online retail fintech Checkout.com has partnered with London-based payments fintech NewDay.
NewDay, a leading provider of consumer credit in the UK, has appointed Checkout.com as its payment provider for debit card payments. The agreement will see NewDay streamline the payment process, operations and reporting.
According to reports, NewDay, which serves five million UK customers, processes millions of transactions each year. Fintech currently operates several direct to consumer credit products and operates products for leading retailers such as AO.com, Argos and John Lewis. The partnership also sees NewDay process its card processing through the Checkout.com platform.
Checkout.com and NewDay utilize services and technologies
The partnership means that NewDay has access to Checkout.com’s payment tools through a single technical integration. The fintech company leverages Checkout.com’s payment services and revenue optimization product – including Authentication, Fraud Detection Pro and Reconciliation. In addition, the transition to simplifying and streamlining payments will provide cost savings for the business.
Speaking about the partnership, Stephen Payne, director of financial control at NewDay, said, “NewDay’s culture of innovation drives our focus on finding more efficient and effective ways to meet consumers’ future credit needs, and digital innovation is at the heart of this. . Through our partnership with Checkout.com, we are modernizing we our payment infrastructure with detailed reporting, offering complete performance insight in near real-time.”
“Our partnership with Checkout.com will enable us to rapidly increase the pace of our innovation to deliver new forms of responsible credit to the market faster.”
Adel Naamneh, VP Global Strategic Revenue Growth at Checkout.com, said: “Through our close collaboration with NewDay’s engineering and product teams, we have redesigned parts of their payment infrastructure to develop a scalable and future-proof solution. This includes implementing our reconciliation solution, which has given them complete monitoring of credit consumption across the group and granular reporting.
Naamneh added: “Our partnership continues to uncover new ideas and business opportunities, areas our teams will explore in our upcoming hackathon to further disrupt the payments industry together.”
