American Express’ online debit product Pay with Bank transfer has announced its first utilities sector partnership with UK energy company OVO.
The partnership allows OVO’s customers to pay their energy bills “seamlessly” from their bank accounts without having to enter card details online or complete additional verification checks.
American Express-powered Pay with Bank transfer is an online debit product that can be used by consumers without the need to be an American Express Cardmember. The product is initially available to OVO’s monthly customers and those buying renewable products.
Holly Coventry, Vice President, International Open Banking Payments at American Express, said: “We’re delighted to announce OVO as our first partner in the utilities sector. Pay with Bank transfer lends itself very well to bill payments as it’s seamless, secure and easy to use.
“We know that missed and unallocated payments cause problems for both customers and utilities providers, and we hope that this partnership helps to address these pain points, giving customers greater visibility and control when paying their utility bills.”
American Express who became official payments partner of the Formula 1 series Americas last year, launched the product in 2019.
The online debit product aims to reduce errors made during online payments through reducing the potential of human error, such as incorrectly entering card details or reference numbers. OVO’s four million customers will be directed to their bank’s website/app to authenticate the payment.
Leading bus operator Go Ahead and English Premier League club Fulham FC are among a list of recent companies that are using the American Express-powered product, with the latter allowing supporters to purchase online products from the club shop in “just a few clicks”.
Bank level security is used to protect payments and the service will also give customers “greater control” as they can see their bank account before it is processed.
Mark Robson, VP Commercial Development, OVO, commented: “We want to ensure that our customers have access to a range of payment options. We’re delighted to be working with American