Collctiv and Ryft partner to transform group payments, improve checkout

By Gloria Methri

Manchester FinTech innovators, Collctiv and Ryft, have joined forces with an aim to transform the group payment sector and to provide a more customizable checkout experience.

Collctiv will leverage Ryft’s expertise to facilitate the creation of money pots for users, simplifying the money collection process for organisers of group gifts and activities. The new arrangement provides more benefits for Collctiv, such as reduced fees and increased payment flexibility.

Additionally, the company expects the introduction of customisable payment links to enhance user engagement by making the payment process more personalised.

Moreover, the collaboration looks set to streamline Collctiv’s merchant onboarding processes, bringing about greater transparency and efficiency in operations. The partnership will also help to extend the reach of both companies within Europe and beyond, enabling them to enter new markets.

Speaking on the collaboration, Pete Casson, CTO & Co-Founder of Collctiv, commented, “We are thrilled to collaborate with Ryft as their technology enhances our ability to offer improved payment options through the Collctiv app. This partnership not only streamlines the money collection process but also lays the foundation for potential future expansions. Our shared commitment to exceptional customer support aligns seamlessly, making collaboration with a fellow northern British company like Ryft a testament to the robustness of the North and its pivotal role in shaping the future of British commerce.”

Sadra Hosseini, CEO of Ryft said, “This is an exciting moment for Manchester’s FinTech scene with two of its most innovative companies joining forces for a highly relevant strategic partnership. We have been big fans of what Collctiv has done over the years and believe the integration of our complementary services can help the company take its offering to a new level.”

The partnership officially went live on the 1^st of November 2023. Since its launch, the joint venture has already demonstrated a 7% increase in Apple Pay transactions.