JJ Foodservice has introduced a new payment method, Pay by Bank, which it said will to help customers make significant savings during the cost-of-living crisis.
Pay by Bank allows customers to pay for shopping quickly and securely by using open banking, which allows customers to pay using their bank account instead of a card.
JJ is working with leading open banking payment provider Ecospend to provide the solution, which initiates a direct bank transfer with prepopulated payment details.
The method will help the wholesaler to cut operating costs by incurring lower transaction fees compared with traditional card payments. JJ said it will pass many of these savings on to customers.
“In a world where prices and fees keep going up, Pay by Bank offers an easy, secure and cost-effective payment method, which will help us to keep offering great deals at a time when our customers need them the most.” Eddie Lanham, chief finance officer at JJ Foodservice, said.
JJ has also launched a Pay by Bank promotion, offering significant price drops across 66 popular products to encourage customers to switch to the new payment method.
Included in the limited time promotion is £6 off KTC cooking oil, available from £29.99 for 30 litres; £5 off Warmer for Longer Chips, available from £9.99 for 4×2.27kgs and £4 off Walkers Crisps, available from for £11.99 for 32×32.5g.
James Hickman, chief commercial officer at Ecospend, said: “As businesses look to optimise their processes at this time, we are delighted to be partnering with JJ, bringing greater efficiencies and ease of use to their payment services. Pay by Bank capabilities will enable JJ’s customers to process payments in a cost- and time-effective manner, adding to an overall positive experience for all.”
Pay by Bank will complement JJ’s existing payment methods of credit/debit card and cash.
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