Roqqett, an Open Banking payments platform, will be launching at Open Banking Expo, 18th October 2023.
Roqqett’s solution, Roqqett Pay, significantly reduces the checkout time of online purchases, offers businesses instant gross settlements, with lower fees compared to card issuers, and allowing customers to pay using their banking app
Roqqett Pay is a single-click checkout solution that takes users straight through to their bank’s authenticating process on their phone without the need to upload card details. By replacing cards with the customer’s smart phone, the process creates a secure purchase journey, and avoids the fees and chargebacks associated with regular card payments.
Roqqett Pay is on average 74%* cheaper for businesses compared to major card issuers. Roqqett Pay also supports business growth and resolves cash flow challenges with instant settlements, meaning all payments are received at point of purchase. For some businesses, this means receiving payments before items are even shipped - a lifeline for businesses with smaller margins.
Roqqett launches with its first customer, FairFX, a multi-currency card provider. With the help of Roqqett, FairFX card holders can instantly top up their card using their banking app, helping them to easily manage their money, no matter where they are travelling.
Jack Mitchell, Director at FairFX, says, “When it comes to moving money, the top priorities for customers are security and speed. Roqqett offers our customers both of these. As a solution, it’s been easy to integrate to our application, with just a few lines of code. We’re both saving money, with much lower transaction fees, and enhancing our customer experience - it’s a clear win-win.”
Paul Stephens, Chief Commercial Officer at Roqqett, says, “I’m thrilled to be launching our game-changing solution at Open Banking Expo this year. The current economic climate is particularly harsh on businesses, with operating costs and fees associated with selling products higher than ever before. I believe Roqqett offers all online businesses a lifeline, with lower fees and a faster and simpler customer experience that helps to convert sales.”
Roqqett was founded in 2020 with the goal of making payments frictionless and fast. In November 2022, Roqqett was acquired by the Equals Group. The acquisition provided Roqqett with tools unavailable to other Open Banking solutions, including multi-currency IBAN’s with instant gross settlement.
The Roqqett team will be bringing their new solution to the Open Banking Expo, London on October 18th and 19th 2023.
*Compared to Stripe’s advertised website rate October 2023