Pay.com provides a payments orchestration platform designed to integrate various payment providers, acquiring services, and banking solutions into a single system. The company emphasises efficiency in managing the complexities of modern payment networks.
Volt, a provider of real-time payment solutions, offers an Open Banking network that facilitates faster transactions. By collaborating with Pay.com, Volt aims to support its bank connectivity and improve transaction efficiency. In essence, this partnership aims to reduce payment processing delays, improve transaction success rates, and provide a more seamless experience for users.
An important aspect of the integration between these two companies is ensuring that customers are presented with relevant banking options during checkout. The system dynamically filters and displays only the banking options applicable to a user’s financial profile. This approach aims to reduce confusion, increase trust, and lower transaction abandonment rates.
Additionally, Pay.com’s Open Banking software development kit (SDK) enables customers to complete bank payments without leaving the checkout page. By maintaining an uninterrupted experience within the browser, this feature is intended to reduce friction and improve transaction completion rates.
For merchants, the partnership provides access to Pay.com’s payment orchestration technology, offering tools previously available primarily to larger enterprises. Pay.com’s analytics platform also allows merchants to monitor transaction performance, analyse decline rates, and adjust payment strategies based on real-time data.
With the continued expansion of Open Banking, both companies aim to facilitate broader adoption by improving transaction reliability and accessibility. The collaboration reflects ongoing efforts to enhance digital payment infrastructure and streamline financial transactions across global markets.
In the company press release, officials from Pay.com commented on the partnership and described it as a remarkable experience. They also brought up the agility and efficiency demonstrated by both organisations, which allowed them to go from signing to launch in less than a year.
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