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John Lewis credit card provider NewDay turns to Checkout.com for payments
NewDay now handles over £6bn in annual consumer credit payments.
Checkout.com has secured a payments partnership with the credit card issuer used by retail giants John Lewis and Argos.
NewDay, which now counts itself as the UK’s fifth-largest card issuer and has won a string of new clients recently, will now use Checkout.com to process the over £6bn worth of payments its cardholders make annually.
The tie-up goes beyond simply payments processing, and includes a host of other Checkout.com services around authentication, fraud detection and reconciliation.
“Through our close collaboration with NewDay’s engineering and product teams, we’ve redesigned part of their payments infrastructure to develop a scalable and future-proofed solution,” said Adel Naamneh, VP of global strategic revenue growth at Checkout.com.
“This includes the implementation of our reconciliation solution, which has given them complete oversight [of] credit consumption across the group and granular reporting.”
NewDay says the deal should simplify and streamline its payments flow, resulting in cost savings for the business.
The credit provider has enjoyed phenomenal success these last few years, winning existing store card business from established providers, like at John Lewis where NewDay replaced HSBC.
It hasn’t all been smooth sailing, however, with NewDay facing customer backlash after taking over John Lewis’s credit card business, resulting in their credit limits being changed.
UPDATE 24-02-2023 - A previous version of this article listed Frasers Group, Homebase, Heal's, Sainsbury's and WorldRemit as new business wins of NewDay, however, the company subsequently corrected that these are not current customers.