Ecospend plans to use an open banking-only competition on national television network ITV to push account-to-account payments into the mainstream.
Ecospend plans to use an open banking-only competition on national television network ITV to push account-to-account payments into the mainstream.
This competition, which is live today, will offer viewers of ITV the chance to win £10,000 and will be one of the first occasions in the UK where contestants may only pay via Pay by Bank. To claim their reward, the winner will be selected through a prize lottery and contacted live on television.
Earlier this month, Ecospend disclosed that, in part because of the Self-Assessment tax deadline on January 31st, over a million consumers used its Pay by Bank system to pay over £3.3 billion in taxes to HMRC since the beginning of 2024.
Since securing the HMRC contract, Ecospend has increased the number of clients it serves in a variety of markets, such as wealth management, e-commerce, travel, utilities, and government. Already, NS&I, JJ Foods, Whiskey Investment Partners, Hargreaves Lansdown, and Anglian Water are among the clients in the UK.
"We are delighted to have teamed up with ITV Win to launch this competition, which we hope will drive awareness and understanding of Pay-By-Bank throughout the UK," says Ecospend's CCO, James Hickman. Even if this is one of the first giveaways restricted to open banking, it won't be the last. We hope to congratulate the winner and wish all participants the best of luck.
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