Ecommpay vs Volt: Payment Solutions Compared

Note that the information about Ecommpay and Volt found in this article was taken from their respective websites on 13 March 2024. This information is subject to change.

Open banking has changed the financial industry. This new trend has altered how financial data is managed and shared, fostering an innovative payment landscape and new competitors for traditional institutions.

Ecommpay was founded in 2012 in the UK. It’s a private company headquartered in London and has over 700 team members with four offices worldwide.

Meanwhile, Volt UK is a much newer company. It was founded in London in 2019. Volt gained $23.5m investment in Series A funding in 2021 and $60m in Series B in 2023.

Here, we compare Ecommpay and Volt to help you choose a provider that meets your business needs. We review Ecommpay versus Volt in terms of their product features, integrations and pricing.

What is Open Banking?

Open banking was introduced in Europe in 2018 through PSD2. It required banks to share customer data with licensed fintech companies with mandatory customer consent.

Open banking broke the monopoly traditional banks once had over data. Now, banks securely transfer information to authorised providers through application programming interfaces (APIs), creating a competitive and dynamic market.

In the payments space, open banking enabled Account-to-Account (A2A) transactions, making them more efficient and secure. With A2A, consumers don’t need to manually enter payment details, as the process is automated via open APIs.

Volt vs Ecommpay for Online Payments

Online Transactions

Volt Platform streamlines real-time A2A payments. Their key product is Volt Gateway, which enables businesses to accept payments on a website or app. Volt has options for embedded and hosted check-out with smart-routed payments.

Volt Pay by Link is a solution for businesses to send customers a payment link. Customers can pay directly from their bank account.

Volt Transformer converts card payments into open banking payments. The solution identifies a customer’s bank and then transforms the payment into an open banking transaction.

Volt Connect is their business tool to manage funds. The merchant solution enables the collection and reconciliation of funds, and the processing of exceptions, payouts and refunds.

Ecommpay’s Gateway enables merchants to access a wide array of B2B and B2C payment methods. It acts as a direct card acquirer, payment processor, and payment service provider. The company offers a customised payment page with various integration options: redirect, iFrame, APIs or Lightbox.

Ecommpay’s Full-Suite Open Banking enables A2A payments. Meanwhile, clients can access instant pay-ins, payouts, refunds, and automatic reconciliations via enterprise solutions. Plus, via Ecommpay Partners, they can leverage the wider open banking network by connecting with various providers. The provider uses smart routing technology.

Ecommpay’s Payment Links allows users to generate a payment link and send it to their customers by email, messenger, or any other channel.

Ecommpay Global Payouts enable cross-border payouts to banks, and international bank cards, e-wallets and bank accounts.

Ecommpay In-App Payments offers a software development kit (SDK) for integrating a payment gateway into a mobile app. Users can accept payments with cards and alternative payment methods directly within their mobile application.

Payment Methods

Ecommpay accepts over 100 local payment methods across regions, including A2A payments, bank cards and popular digital wallets.

Volt offers to Pay by Bank or Pay by Link, with the possibility for a QR code payment. Card payments can be transformed into open banking payments via Volt Transformer. The provider also offers expansion into Brazil via Pix, the country’s instant payment system, and integration with PayTo, Australia’s real-time payment system.

Payment Security

Volt Circuit Breaker is an anti-fraud system that monitors transactions using a flexible scoring system to identify suspicious activity.

Ecommpay Risk Control System includes anti-fraud filters, transaction monitoring, whitelist and blacklist databases, and sanction lists. The company uses a machine learning model to identify fraudulent transactions.

Other Features

Volt Verify is an account information service (AIS) tool streamlining customer bank account verification. With this feature, users can confirm a customer’s full name and account number.

Ecommpay vs Volt: Integration & Coverage

Volt supports 29 European countries, including the UK, plus the US, Brazil and Australia. The currencies supported by Volt include EUR, GBP, DKK, NOK, SEK, PLN, AUD, AUD and BRL. The provider offers integration with WooCommerce, Shopify, Magento, PrestaShop, Shopware and Shoplazza platforms.

Ecommpay works with merchants only within the European Economic Area (EEA). The company supports payments to a wide range of regions in any currency, yet the settlements with merchants are done only in EUR, USD, and GBP.

In terms of third-party integrations, Ecommpay CMS Plugins offer integration with WooCommerce, Magento, PrestaShop, OpenCart, Salesforce Commerce Cloud, BigCommerce, CommerceTools, and other eCommerce solutions.

Volt vs Ecommpay: Pricing

Volt does not reveal its pricing plans on the website. To discover their fees and pricing options, a client would need to contact the sales team.

Ecommpay offers tailored pricing for large and medium-sized enterprises. The provider would access business requirements and give a customised quote.

Alternatives to Volt and Ecommpay

​​Noda is a worldwide payment and open banking provider for seamless business transactions. From payment facilitation to financial analytics, Noda has got you covered. Our platform uses cutting-edge AI and machine-learning technologies.

Operating in the EU and Canada, Noda supports a wide range of currencies for globally-minded clients. We offer scalable plans to fuel your business growth and e-commerce plugins for easy integration.