ForexQ.com
ForexQ.com
According to its official website, Ecospend is an FCA-regulated payment institution that provides open banking infrastructure to businesses. The company says it provides instant account-to-account payments (Pay by Bank) at a lower cost than card payments and without chargeback risk, as well as verified financial data services that can be used for onboarding and identity checks. The site says it was selected by HMRC at the end of 2020, has been initiating HMRC tax payments through open banking since early 2021 and is the open banking provider to the UK Government; it serves sectors such as e-commerce, lending, digital banking, utilities, local government and social housing. According to an announcement on the site, Trustly acquired Ecospend in May 2022. Its terms state that Ecospend Technologies Limited is authorised by the FCA as a payment institution with permission to provide payment initiation and account information services (FRN 829713). The address is The Wingate, Shaftesbury Avenue, London. According to Companies House the company was incorporated in 2017. This information is the company's own statement.