A new age for payments is coming via Open Banking … enter billx

Our aim is simple: to help everyone #PayABetterWay

💡 Payment technology is outdated

billx was born out of frustration with the consistent payment challenges at Crowdcube, where the three co-founders met. Crowdcube, at its core a simple e-commerce flow, is made complex with card payment failures, card chargebacks, and having to manage and reconcile larger offline bank transfers.

It became clear that this frustration was shared across the industry and beyond. In spite of business and individual frustrations, it is the accepted status quo for bank payment methods to be manual, clunky, translucent, and open to fraud.

They’re not perceived to be a viable option for business use and simply part-and-parcel of using a personal bank account:

• As individuals, we are expected to suck up the security risks of debit and credit cards. Why should we have to carry around a piece of plastic to access money? Or set up spreadsheets and WhatsApp groups just to organise repayments?
• Businesses are expected to be happy waiting days for payments to arrive, leave cashflow open to chargebacks, and scrabble around with manual and out of process admin, with such ‘privileges’ coming at an extortionate fee. How are they supposed to exist and thrive with those overheads, particularly in a post covid-era?

🧠 The solution

Crowdcube were not alone in their frustration with the current payment options, and as we began to collect a tide of discontent from small and large businesses, it became apparent change would be welcomed across the board. You guessed it…billx was born! A payment platform offering businesses and individuals a better, faster, and more secure way to pay, accept, and manage payments, leveraging Open Banking. Why should you have to put up with payment mediocrity? We don’t think you need to!

🧑🏽‍🔧 How will we help?

Aided by PSD2 and the Open Banking framework, we’re on a mission to do something about it. We’re picking up the fight on your behalf, and helping people and businesses, small and large to ‘pay a better way’.

You can now pre-register for early access to our app and join the billx community to change payments alongside us — sign up at billx.co