PayDo, established in 2017 as a regulated payment services provider, has introduced an innovative consumer-to-business (C2B) Open Banking collections account specifically for online merchants who handle substantial volumes of bank transfer payments.

This new product aims to tackle the reconciliation and operational challenges associated with Open Banking transactions processed via traditional bank transfer systems. Previously, many businesses struggled with difficulties in automatically matching incoming payments to customers or orders due to the generic nature of credit transfers under existing models. Consequently, this often led to labor-intensive manual reconciliation processes.

Real-Time Tracking and Automated Reconciliation

PayDo’s new collections account features a managed account structure where each incoming payment is uniquely identified and tracked. The system assigns transaction-level data to every payment, enabling real-time tracking and automated reconciliation. This approach mirrors the efficiency of card acquiring workflows but retains the settlement speed and pricing characteristic of Open Banking payments.

PayDo highlights that initial tests of this infrastructure have shown it capable of processing over 100,000 transactions daily. This high throughput capacity allows merchants to streamline their operations by reducing settlement times and transaction costs while maintaining control over incoming funds. Integration into existing payment setups is seamless, allowing businesses to route Open Banking payments through a dedicated account environment without complicating internal finance functions.

With more than EUR 5 billion in annual transaction volume processed annually, PayDo offers multi-currency accounts, acquiring services, e-wallet payments, and Open Banking products. The company’s focus is on scaling operations while enhancing operational controls for high-volume commerce environments.