National Fintech Awards 2024

We are excited to share that we’ve been shortlisted for Best Payment Solution AND Emerging Fintech Company of the Year at the Fintech Summit & Awards 2024!

As a leader in remote payments, Prommt’s success is built on our commitment to trust. We provide secure, merchant-branded payment journeys with custom email templates and embedded payment links. By integrating the checkout into the merchant’s site and maintaining consistent branding, we ensure a familiar, trustworthy payment process from start to finish.

What sets us apart from our competitors are our smart payment orchestration tools, which help drive Pay by Bank adoption. Merchants can set automated thresholds to present their preferred payment methods based on transaction value, location, or type. They can easily set automatic chase paths for failed transactions or where the cart has been abandoned, and present an alternative payment method to complete the transaction – bank or card. This strategy allows them to achieve substantial savings on transaction fees and operational costs, while also mitigating card fraud and minimising chargebacks.

Designed for teams across multiple locations, we offer robust reporting and alerting features. Prommt can function as a stand-alone platform or seamlessly integrate with industry systems like Oracle OPERA (V5 and Cloud) and Border CounterAct. Our clients get up and running quickly, usually within two weeks, thanks to strong integration capabilities and partnerships with major payment gateways. Our average churn rate is impressively low, remaining under 0.2%.

Being recognised for our impact in the payments industry is a huge honour and a testament to our team’s dedication to excellence. We look forward to the awards ceremony in October, and wish all the finalists in our categories the best of luck!

Open Banking Expo Awards 2024

We’re thrilled to share that Prommt has been selected as a finalist for the Open Banking Expo Awards in the “Best Open Banking Payments Project” category!

Our Pay by Bank solution is revolutionising high-value payments, delivering faster, safer, and more cost-effective transactions across industries like hospitality, builders merchants, luxury retail, and automotive. Our clients benefit from significant cost savings through reduced scheme/interchange fees, card fraud, chargebacks, and operational costs. We enable secure, seamless checkouts via SMS, email, chat, web, or in-app, offering Pay by Bank as a default or alternative payment method to card based on a set of orchestration parameters like transaction value, location, or customer type.

Being recognised for our impact in the payments industry is a huge honour and a testament to our team’s dedication to excellence. We look forward to the awards ceremony in October, and wish all the finalists in our category the best of luck!

CPA Ireland

Did you know that 70% of shoppers look for their preferred payment method when deciding where to buy? For Millennials, this is even more critical – 80% will abandon an online purchase if their preferred payment option isn’t available.

“Today’s customers want hassle-free checkout, consistent brand interactions online and offline, payment flexibility, and fast, secure transactions with strong fraud protection,” writes Donal McGuinness, CEO of Prommt

Your payment journey isn’t just a transaction—it’s an extension of your brand and often the final touchpoint that leaves a lasting impression. The key to reducing cart abandonment may well be in offering the right payment choices. Many brand websites miss this mark, leading to 20% more abandoned carts compared to online marketplaces.

Discover how smart payment technology can turn abandoned carts into successful sales in Donal’s latest opinion piece for CPA Ireland. 

Door Industry Journal

On average, builders merchants wait an alarming 94 days to receive payments, according to the industry’s days sales outstanding (DSO) metric. This prolonged delay—over three months—can severely disrupt operations and increase the risk of fraud and insolvency. In fact, late payments contributed to 28% of UK construction sector insolvencies in 2023.

By partnering with a paytech company, such as Prommt, builders merchants can secure payments before delivery, ensure compliance with data regulations, reduce chargebacks, and lower the costs and time associated with payment collection. They can offer flexible payment options and present card or bank (or both) payment methods based on merchant-defined purchase value thresholds. With advanced features, they can automate credit control, effectively manage arrears and personal payment plans, and optimise staff time in payment collection.

In his latest opinion piece for the Door Industry Journal, Donal McGuinness, CEO at Prommt, explores how payment innovation can reduce fraud, costs, and cash dependency in the hardware industry.

IBS Intelligence Podcasts | A Cedar Consulting Unit

Personalised experiences are the hallmark of luxury purchases. It’s not just about the product—it’s about how the customer feels during the purchase. Payments play a vital role in this experience. The payment journey is an extension of the brand, making it crucial to remove friction at checkout, and offer a choice of safe and convenient payment options.

For high-value purchases, open banking provides a safer, faster, and more cost-effective alternative to manual bank transfers, drafts, or cheques. Businesses can cut costs and protect margins by reducing high transaction fees, card fraud, chargebacks, and payment operation costs.

In this episode, Gloria Methri of IBS Intelligence chats with Donal McGuinness, CEO at Prommt, on the impact of open banking and digital payments transformation on the luxury retail and automotive sectors – particularly around remote and online high-value transactions.

Business & Finance

Donal McGuinness, CEO of Prommt, talks about emerging trends in the payments industry, Prommt’s major highlights and achievements this past year, future plans for the company, his biggest challenges as CEO, his favourite hobbies and books, his life mantra, and more.

Irish Tech News

For hotels, hosting events like weddings and conferences goes beyond providing a venue. It involves orchestrating a symphony of services while ensuring every transaction is as smooth as the occasion itself. Enter open banking, a game-changer for high-value event payments.

Open banking eliminates the hassle of card limits and costly processing fees and offers a safer, faster, and more cost-effective alternative to manual bank transfers, drafts or cheques. It transforms event payments with automation and enhanced security by saving time, cutting transaction fees, and lowering operational costs. It reduces fraud and data risks, while exceeding guest expectations for seamless transactions.

Pay360 Awards 2024 | The Payments Association

Prommt is thrilled to be selected as a finalist for Pay360’s Best Open Banking/A2A Initiative Award 2024! Prommt is a payments orchestration platform that is revolutionising remote payments for enterprises and their clients. We have expanded Pay by Bank use cases across hospitality, luxury retail, builders merchant and automotive sectors with our pay by link capabilities. Our solution enables secure, seamless checkouts via SMS, email, chat, web, or in-app, offering Pay by Bank as a default or alternative payment method based on a set of orchestration parameters such as transaction value, location, or customer type.

It is a huge honour for us to be recognised as a company driving impact in the world of payments, and a testament to our team’s hard work and dedication to excellence. We’re looking forward to the awards ceremony in October, and wish all the finalists in our category the best of luck!

Business Age

“Dealing with large sums brings unique challenges, and this is where open banking can be a lifesaver. It eliminates the constraints of card limits and costly processing fees and offers a safer, quicker, and more efficient alternative to traditional bank transfers, drafts, or cheques,” writes Donal McGuinness, CEO at Prommt.

Wedding planners must balance deposits, final payments, and ensure smooth transactions while coordinating with multiple vendors. Vendors frequently face payment delays that impact cash flow and service delivery. Venues manage booking fees, milestone payments, and refunds, often with outdated spreadsheets. Risks like fraud, chargebacks, data breaches, and human errors complicate payment administration and increase costs. Meanwhile, the happy couple must budget meticulously, track expenses, and ensure payments stay on schedule, all without dampening their excitement for the big day.

In his latest op-ed for Business Age, Donal explains how open banking accelerates payments, increases savings, reduces fraud, and ensures data compliance.

CPA Ireland | Accountancy Plus

“The viability of any business hinges on the efficiency of your accounts receivable (AR) function. Customers need to make payments based on invoices received and Open Banking significantly optimises the AR function,” writes Donal McGuinness, CEO of Prommt.

Open Banking is rapidly gaining popularity in the Irish payments landscape, hitting a new level of maturity this year with increased users, services, and regulatory attention. It’s transforming higher-value transactions by eliminating card limits and costly processing fees, while providing a safer, faster, and more efficient alternative to traditional bank transfers, drafts or cheques. In this month’s issue of Accountancy Plus, Donal explores the top 5 Open Banking trends of the year.