back Back

Vyne and Gr4vy partner to enable instant Open Banking payments for online merchants

By Joy Dumasia

February 21, 2022

  • API
  • API Banking
  • Europe
Share

Vyne, the specialist account-to-account payments platform, announces a new partnership with Gr4vy, a leading cloud-native payment orchestration platform (POP) that will give online merchants access to open banking payments infrastructure.

Gr4vy’s cloud-native payment orchestration platform enables merchants to streamline and manage payment methods, services, and transactions all in one place. With eCommerce becoming the cornerstone of retail, this partnership will give Gr4vy’s merchant partners access to Vyne’s full array of account-to-account payment processing solutions. Once referred, Vyne’s simple integration process will allow merchants to offer payments in as little as three clicks and enable instant settlement while bypassing high-cost middlemen. 

Vyne’s frictionless payment process will improve merchant conversions by offering a seamless UX via different channels, including online checkout, payment by SMS, chat or email, and QR codes for static or dynamic payment content.

Research conducted by Vyne in Q4 2021 found that 43% of consumers had to chase down refunds for online purchases, leaving them feeling frustrated and angry with retailers. With Vyne’s open banking technology, Gr4vy’s merchants will be able to offer refunds in real-time to their buyers, which plays a vital role in customer loyalty.

Luke Flomo, Chief Revenue Officer, Vyne, said: “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. Accessing traditional and innovative payment solutions with the click of a button is the future of payments. It is our mission to restore payment power to merchants and their customers. The only way to regain such power as the world evolves digitally is through open banking.

John Lunn, Founder and CEO, Gr4vy, said: “Offering the right payment methods with the right providers is essential to an effective payments strategy for online retailers. 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.

Previous Article

February 21, 2022

Trax and Raistone Partner to create working capital innovations

Read More
Next Article

February 21, 2022

CoinDCX partners with crypto-native trade surveillance firm Solidus Labs

Read More










IBSi Daily News Analysis

banking, customers,

December 02, 2022

API

Why are banking players flocking to Middle Eastern digital banks?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

December 02, 2022

5 FinTech tweets you should see!

Read More

December 02, 2022

Network International and American University of Sharjah collaborate to empower youth in the FinTech sector

Read More

December 02, 2022

Commerzbank selects PayTech Nexi for card processing solutions

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022