Vyne, Gr4vy to enable instant Open Banking payments for online merchants

Monday 21 February 2022 13:39 CET | News

Account-to-account payments platform Vyne has partnered with cloud-native payment orchestration platform (POP) Gr4vy to bring Open Banking payments to online merchants.

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 account-to-account payment processing solutions. Once referred, Vyne's integration process will allow merchants to offer payments in a timely manner, and enable instant settlement. 

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

Shoppers today expect easy returns and refunds along with a seamless shopping experience. 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.

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Keywords: Open Banking, Open Banking payments, merchants, ecommerce, instant payments, online payments
Categories: Payments & Commerce
Companies: Gr4vy, Vyne
Countries: World
This article is part of category

Payments & Commerce




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