felloh! is a pendng B Corp using the latest technology to help charities, charitable causes/organisations and businesses save costs while increasing the amount from every donation that goes to the intended charitable cause
fellloh! allows you to make a payment directly from your bank account using Open Banking. The money is sent directly from your bank account to the business or charity bank account. You do not need to enter any account number or sort code information and none of your payment information is stored with the business/charity.
To use the service your customers will need a UK bank account with Bank of Scotland, Barclays, Halifax, HSBC, Lloyds, Nationwide, Natwest, RBS, Revolut, Santander, AIB (UK), Bank of Ireland (UK), Danske, First Direct, M&S, TSB Bank, Ulster Bank (UK), Tesco. You must have a mobile banking app or be registered for online banking.
The product securely redirects you to your preferred bank. Your login credentials and personal information are used only by your bank to verify your identity and fund availability. Your personal payment information will not be stored by felloh!
When you are ready to make a payment, simply select the felloh! payment option at checkout. You will then be asked to confirm the transaction amount and select the bank account from which you want to pay. Upon your selection, felloh! will securely redirect you to your bank's mobile app or website for authentication. This will be based on your bank's standard authentication process and may include a one-time password or pre-set secure passwords. You will then be able to access your account and confirm the payment to the business or charity to complete the payment.
No, there are no fees incurred by your customers for making a purchase via felloh!
The transaction will be reflected on your bank statement issued by the bank you selected to make the payment from.
Open Banking is a series of reforms to how banks deal with your financial information, called for by competition watchdog the Competition and Markets Authority (CMA). UK-regulated banks have to let you share your financial data if you choose to do so.
The idea behind Open Banking is that it will bring more competition and innovation to financial services which, in turn, will lead to more and better products to help manage your money. It opens the way to new products and services that could help customers and small to medium-sized businesses get a better deal.
It could also give you a more detailed understanding of your accounts, and help you find new ways to make the most of your money. Services from providers are regulated by the Financial Conduct Authority (FCA) and European equivalents. You can find out more on the Open Banking website https://www.openbanking.org.uk/customers/what-is-open-banking/
Open Banking has been designed with security at heart – here’s how:
Open Banking uses rigorously tested software and security systems. You’ll never be asked to give access to your bank login details or password to anyone other than your own bank or building society.
Only apps and websites regulated by the FCA or European equivalent can use Open Banking.
Your bank or building society will pay your money back if fraudulent payments are made. You’re also protected by data protection laws and the Financial Ombudsman Service.
Once the transaction has been approved by your bank, your bank account will be debited instantly.
We utilise open banking to enable you to go directly into your bank account through your banking app or online banking to make your chosen donation or payment.
felloh! won't see any of your banking information.
The process is quick and easy to complete and as long as you have a banking app or online banking there is no setup effort required.
Working with felloh! means you can save costs for your business. However the benefits are about more than just cost.
We can provide simple customers journeys, provide multiple solutions in one package, provide a personal relationship and do good along the way!
By using Open Banking we don't have to worry about payment processing fees incurred when you pay by credit or debit card or use Paypal.
Nuapay are our partner who provide the underlying technology and access to payment schemes that felloh! is built upon.
Nuapay is a subsidiary of Sentenial. Nuapay is licenced by the FCA in the UK, and operates under The Payment Services Regulation 2017 (PSR 2017).
Within the PSR 2017, companies are licenced to undertake various activities. Nuapay’s current permissions (as at March 2020) enable it to undertake the following activities:
Sentenial Ltd is the parent company of our partner Nuapay.
Sentenial Ltd (Company No. 06566456), trading as Nuapay, is an Authorised Payment Institute (FRN: 624067) with the FCA in the UK. Under our partners API licence, they are permitted to issue payment accounts and hold funds on behalf of their customers (Felloh! in this instance). Under the licences, all client money held is required to be 100% safeguarded at all times.
Under our partners licence, they issues payment accounts and processes payments for more than 1,500 corporates across Europe, including some of the leading global financial institutions.