Specialist account payments platform, Vyne, has partnered up with Gr4vy, a payment orchestration platform, to allow merchants access to open online banking payments infrastructure.
With e-commerce becoming integral to retail, Gr4vy merchants will be able to access all of Vyne’s account-to-account payment processing solutions.
Aiming to offer seamless user experience (UX) through different channels, Vyne will integrate its process to allow frictionless payments for Gr4vy merchants, including via online checkout, payment by SMS, email and QR codes for static or dynamic payment content.
Luke Flomo, Chief Revenue Officer, Vyne, commented: “In keeping with our common vision of creating an ecosystem that redefines the payment experience for merchants and consumers, we are excited to partner with Gr4vy to introduce Open Banking to the masses.
“Founded by industry veterans, Gr4vy’s market-leading cloud based platform offers the ultimate scalability, our partnership empowers both merchants and consumers to access account-to-account payments’ security, speed, efficiency, and cost effectiveness.”
Shoppers today expect easy returns and refunds along with a seamless shopping experience. According to Vyne research, in Q4 2021 Vyne found that 43% of consumers had to chase down refunds for online purchases.
Through their collaboration, Gr4vy merchants will be able to offer refunds to their buyers in real time through the use of Vyne’s open banking technology, all in the aim of delivering a stronger customer relationship.
“Offering the right payment methods with the right providers is essential to an effective payments strategy for online retailers,” states John Lunn, Founder and CEO, Gr4vy.
“Gr4vy’s goal is to modernise payment infrastructure by empowering merchants to expand and manage their payment stacks, and working with Vyne’s Open Banking technology will enable us to provide the instant, low-cost, and easy-to-use payment solutions that will enable merchants to stay competitive.”
On the heels of this partnership, Vyne has also recently announced that its payment solution went live on several checkouts such as MyProtein, Beauty Expert, Zavi and more.