The UK is undergoing a revolution in payments.
Thanks to open banking, merchants can now accept secure, direct bank payments from clients — instantly and at a fraction of the cost of traditional card processing.
But this is not uncharted territory. Across Asia — from Hong Kong and China to Thailand Singapore , and India — businesses have already transformed how they get paid, there’s significant potential for growth in the UK.
A Proven Model from Asia
In Hong Kong, the Faster Payment System (FPS) is now a default choice for SMEs, letting businesses receive instant, low-fee payments via simple QR codes.
In China, QR-based direct payments through Alipay and WeChat Pay account for more than 80% of retail transactions, allowing merchants — from luxury jewellers to local car dealers — to bypass expensive card networks entirely.
In Thailand and Singapore, systems like PromptPay and PayNow have achieved widespread adoption across all sectors, drastically reducing payment costs and improving cash flow.
In India, the Unified Payments Interface (UPI) has revolutionised transactions, enabling everything from street vendors to large retailers to accept instant, zero- or low-cost payments, transforming both convenience and business liquidity.
The lesson? These regions have proven that direct, instant payments drive healthier businesses and better customer experiences.
How SSV SmartPay Helps Diverse UK Sectors
We’ve taken these insights and built SSV SmartPay to suit the UK market, benefiting both mainstream retail and sectors that often face challenges with traditional payment methods.
Second-Hand Car Dealerships
Car dealers frequently process high-value transactions, where typical 2.5–3% card fees quickly add up to hundreds — or thousands — in lost margin. Worse, many payment providers categorise them as “higher risk,” pushing rates even higher or delaying settlement.
SSV SmartPay changes that:
• Accept payments directly from customers bank apps with a QR code or link.
• Pay just 0.5%,for any transaction above GBP50 and just 20p +VAT for any transaction below.
• Funds settle instantly — no more waiting days for clearance.
Driving Instructors
Driving instructors, many operating as sole traders, struggle to get merchant accounts or justify costly card terminals.
With SSV SmartPay:
• They can send secure payment links via WhatsApp or SMS, or use on-the-spot QR codes.
• Payments go directly from the client’s bank to theirs, instantly.
• No contracts, no hardware and associated subscription fees.
Legal & Professional Services
Law firms and independent solicitors often still rely on bank transfers or expensive card payments for settlements, retainers, and fees. This means chasing unpaid invoices or absorbing hidden processing costs.
Now they can:
• Offer clients a seamless way to pay retainers and invoices via instant bank payment — cutting costs and improving cash flow.
• Track everything in a simple dashboard, aligned with trust account requirements.
Precious Metals & Stones
Jewellers, bullion dealers, and gemstone traders face even bigger hurdles:
• High transaction values mean hefty card processing fees.
• Traditional processors often impose strict underwriting or refuse service outright due to perceived risk.
SSV SmartPay solves this by:
• Enabling direct, secure bank payments with fees capped at 0.5% for any amount over GBP50, no matter the ticket size.
• Providing instant settlement, which is critical when managing large inventory purchases or sales.
• Keeping funds transparent and traceable, aligning with compliance needs.
Why This Matters
By leveraging the UK’s open banking rails, we’re bringing the same benefits seen across Hong Kong, China, and South East Asia to British businesses:
✅ Up to 70% lower fees vs card payments
✅ Instant settlements, improving liquidity
✅ No hardware or long contracts, just flexibility
It lets business owners keep more of what they earn, less time is wasted chasing payments, and clients enjoy a modern, seamless experience.
🔗 Curious how SSV SmartPay could work for your business — whether you’re a solicitor, a luxury jeweller, or a driving school?
Visit ssvsmartpay.co or book a quick demo to see how much you could save.
