HMRC awards Open Banking contract to Ecospend

The UK tax authority has handed a £3 million Open Banking contract to fintech startup Ecospend, with the aim of making it easy for taxpayers to submit payments direct from their bank accounts, rather than through debit or credit card.

Viewed as a significant boost to the uptake of Open Banking services in the UK, Her majesty’s Revenue and Customs (HMRC) worked with the Open Banking Implementation Entity (OBIE) on the procurement exercise, which went out to tender last year.

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *