Gala Tent Launches Open Banking Solution for Telephone Payments
- Open Banking , Payments
- 26.10.2020 06:22 pm
Gala Tent, the UK’s largest manufacturer and supplier of commercial marquees and gazebos, has launched an open banking application programme interface (API) for payments. This new solution will provide their customers with an alternative digital payment option, in addition to traditional card payments and bank transfers.
The application will be powered by their sister company, Gala Technology, the innovative development team behind the multi-award-winning payment solution, SOTpay in conjunction with leading open banking specialists, Nuapay.
Despite the disruption caused by Covid-19, open banking and the fintech ecosystem have been boosted by the period of lockdown. According to an Open Banking Implementation Entity (OBIE) survey of 2,000 UK adults, one-in-five started using online banking apps during lockdown for the first time, 54% of whom now using them regularly, with the UK user base increasing to 2 million.
Interestingly, Gala Tent have also seen a significant rise in the demand for their products, as commercial clients look to utilise outdoor space and shelter to adhere to government guidance and social distancing legislation.
This new open banking service will allow Gala Tent to initiate a payment request to their client, enabling them to make an account to account payment, whilst remaining in constant communication with the contact centre agent.
The frictionless payment journey is secure, quick and efficient for the customer, whilst the business does not have to worry about PCI DSS compliance, as they do not process, store or transmit sensitive payment card information. With instant settlement of funds, Gala Tent will also benefit from increased cashflow and a reduction in their merchant service processing fees with their acquiring partner.
CEO of Gala Tent Jason Mace said: “It's a fabulous system. We have historically had an issue with our call centre personnel unable to track the progression of traditional bank transfers, especially now working from home, which can delay the despatch of goods to our loyal customers.
Open banking is the missing piece of the jigsaw for Gala Tent as our team can now take a real time payment over the phone, via webchat or even social channels, when the customer’s preferred method of payment is a bank transfer. This is especially good for our commercial client base, although we have also seen an increase in the number of private customers who want to use account to account payment technology, because it is so impressively smooth and efficient.”
Mace’s business partner Mark Thompson concurred: “Because of the increase in demand for bank transfer payments, our accounts team, were constantly badgered by the call centre asking for updates to ascertain whether the payment had landed to enable them to release the products from our warehouse for despatch. I'm pleased to say this interruption has now been resolved with the deployment of this extended service using SOTpay.”
Partnership with Nuapay
Gala Technology has partnered with Nuapay so it can make the new payment channel available to its existing client base.
Founded in 1999, Gala Tent has grown to sell over 15,000 tents and marquees each year, along with around 90,000 event accessories and furniture products in the UK.
In the UK, Gala Tent is a preferred supplier for organisations including the military, NHS, the South Yorkshire Fire & Rescue Service, South Yorkshire Police Service, St John’s Ambulance and AA, as well as to thousands of homeworkers nationally.