Link Money & Bold Commerce bring Pay by Bank to merchants
By Delisha Fernandes
Link Financial Technologies, a US-based open banking payment platform, has partnered with Bold Commerce, a checkout company for omnichannel retailers and DTC brands, to bring Pay by Bank to merchants.
The partnership will enable brands and retailers using Bold Commerce’s checkout solutions to utilize Link Money’s Pay by Bank solution in the US to reduce payment processing fees, credit card fraud and churn.
It comes at a time when credit card fees and fraud incidents are rising, and when merchants are seeking cheaper alternatives to accepting credit card payments. The collaboration between Link Money and Bold Commerce brings merchants the ease and security of direct, account to account payments.
“Every shopper has their preferred payment method among the wide range of options available to to them—from Buy Now, Pay Later to digital wallets, credit cards, and account-to-account payments—and they won’t hesitate to leave a product behind if their preferred method isn’t available,” said Peter Karpas, CEO of Bold Commerce. “It’s why we’re hyperfocused on diversifying the payment options we offer to brands, so they can personalize checkout for individual shoppers down to payment. Adding Link Money’s Pay by Bank solution to our repertoire rounds out these offerings.”
Bold Commerce enables brands and retailers to offer customized checkout experiences wherever shoppers interact—like ecommerce sites, blogs and social media. Through the new partnership, brands using Bold Checkout can offer Link Money’s Pay by Bank as a payment option to customers across any channel.
“As one of the first to enable their merchants to accept open banking payments in the US via Link Money, Bold Commerce is accelerating its leadership in the ecommerce space. As merchants continue to face increasing competition, Bold Commerce users will be able to reduce their payment costs by as much as 70 percent,” said Shaun Vanderkaap, Link Money VP of Strategy.
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