" class="no-js "lang="en-US"> Checkout.com forges payments deal with NewDay
Thursday, May 23, 2024

Checkout.com forges payments deal with NewDay

NewDay, a leading provider of consumer credit in the UK, has appointed Checkout.com as its payments provider for debit card payments. The new partnership will see NewDay streamlining its payment process, operations and reporting.

NewDay has close to five million customers in the UK and processes millions of transactions annually. It operates multiple direct to consumer credit products and powers products for leading merchants such as AO.com, Argos and John Lewis. The deal, which is already live, sees NewDay process its card processing through the Checkout.com platform.

The partnership offers NewDay access to the complete suite of Checkout.com’s cutting-edge payment tools – all accessed through a single technical integration. Within this, NewDay is leveraging Checkout.com’s payment services and revenue optimisation product – including Authentication, Fraud Detection Pro and Reconciliation – all designed to offer transparent reporting, fraud detection and ultimately best-in-class payment performance. Additionally, the move to simplify and streamline payments will deliver cost savings for the business.

“NewDay’s culture of innovation drives our focus on finding more effective and efficient ways to meet the future credit needs of consumers, and digital innovation sits at the heart of this. Through our partnership with Checkout.com we’re modernising our payments infrastructure with granular reporting, offering complete insight into performance in near-real-time,” said Stephen Payne, Director of Financial Control at NewDay. “Our partnership with Checkout.com will enable us to rapidly increase the pace of our innovation to deliver new forms of responsible credit to market quicker.”

“We continue to see legacy technology hamper innovation across the digital economy, and inflate costs,” said Antoine Nougué, Head of Commercial at Checkout.com. “I’m delighted to announce our deal with NewDay, which is a massive validation of everything we’ve strived to build.”

“Through our close collaboration with NewDay’s engineering and product teams, we’ve redesigned part of their payments infrastructure to develop a scalable and future-proofed solution. This includes the implementation of our reconciliation solution, which has given them complete oversight credit consumption across the group and granular reporting. Our partnership continues to uncover new ideas and business opportunities, areas our teams will explore in our upcoming hackathon to further disrupt the payments industry together,” said Adel Naamneh, VP Global Strategic Revenue Growth at Checkout.com.

As Checkout.com marks 10 years of its licence in the UK, the NewDay partnership follows a successive stream of wins for the UK payments firm. Recent deals include one of the UK’s largest supermarkets, Sainsbury’s, global consumer tech giant Sony Electronics and British retailers such as THG and Frasers Group. Increasingly enterprise merchants are opting for Checkout.com’s single-platform approach to payments, after suffering from fragmented, legacy platforms offered by incumbent banking providers with supplementary payment offerings.

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