OVO Energy and SlimPay: energy-tech and fintech join forces
6 March 2020
Updated: 28 April 2020
As two tech companies, OVO Energy and SlimPay are working together to facilitate the subscription journeys and to offer the optimal user experience to all households.
OVO Energy ID Card
Established in the UK in 2009, OVO Energy is a green energy supplier that’s committed to achieving zero carbon for itself and its customers. With its electricity generated from 100% renewable sources (hydro, wind, solar), OVO Energy has won over enough households – 5 million to be exact – to make it the UK’s third biggest energy supplier and the biggest independent supplier in the world. The company is currently valued at €1 billion, and is now looking to expand into new countries. Having launched operations in France in 2019, it has its sights set on Germany, Spain and even Australia in the near future.
The OVO Energy challenge
In order to roll out its offer in other European countries, OVO Energy needed a partner able to support its growth and accelerate its Go-To-Market strategy.
The SlimPay solution
SlimPay is currently working with OVO Energy on all of its transactions in France, with an offering that includes a 100% digital subscription and payment model. Thanks to SlimPay’s electronic signature module, which allows documents and SEPA Direct Debit Mandates to be signed simultaneously, OVO Energy can offer its customers an even smoother on-boarding experience: when they sign up, new customers can sign the terms and conditions, contract and direct debit mandate electronically.
‘In an increasingly digital market, OVO needed a tech partner to support its expansion. And with SlimPay and OVO Energy both being tech companies, our collaboration has enabled us to enter the French energy market with a strong offering that’s adapted to the digital age.’ Mallorie Sia – General Manager of OVO Energy France
SlimPay allows OVO Energy to recover failed payments via card payments. Our payment mix of card payments and Direct Debit meets OVO Energy’s needs in terms of securing revenues over the long term.
Lastly, SlimPay operates the entire payment chain on behalf of OVO Energy, by processing and acquiring transactions by card and SEPA Direct Debit.
OVO Energy launched in France to resounding success, and the company continues to grow with ever-increasing transaction volumes. The partnership with SlimPay, a fellow tech company, helped jump-start OVO’s entry into the French energy market.
‘We’re very satisfied with SlimPay’s service and, as we expand through Europe, we are planning to recycle the strategies that have proven successful.” Edouard Vuillet – Operations Manager