CellPoint Digital and Vyne offer instant payments for merchants

Thursday 25 November 2021 11:04 CET | News

UK-based fintech CellPoint Digital has announced a partnership with payments platform Vyne, which allows the latter to offer instant payments to CellPoint Digital’s merchant customers.

Through CellPoint Digital’s Velocity Payment Orchestration Platform, merchants can incorporate Vyne into their payment ecosystem, providing instant payments without the need for a direct integration with an open banking provider. With transactions routed and monitored in real-time, merchants can analyse performance and use data to cut costs, boost acceptance rates, and simplify operations via automated reconciliation.

The Vyne solution functions by using a customer’s existing online banking app to initiate and authenticate a transfer. The customer does not need to enter their account information online and sensitive financial details are never held by the merchant. By enabling a payment method that can be completed in just three clicks, the platform provides a seamless experience that can help to reduce cart abandonment.

CellPoint merchants will now experience instant fund settlement and their customers will be able to complete payments through their own banking apps with no card details needed. Merchants can also engage customers through channels, using pay by link or QR codes, which can be sent via email, SMS, in app or used for in person sales.

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Keywords: mobile payments, instant payments, Open Banking, merchant, partnership, payment methods
Categories: Payments & Commerce | Mobile Payments
Countries: United Kingdom
This article is part of category

Payments & Commerce