It is the first step in a wider integration that will see Vyne’s solution offered as a payment method for 25 THG brands in total.
Based on Open Banking technology, these integrations will allow consumers to make ecommerce payments directly to the THG brands and retail sites. Vyne’s payment method enables consumers to pay from their banking app, eliminating the need for card details and in turn speeding up the checkout experience and reducing cart abandonment. As every transaction is completed through the consumer's own banking app, the payments are more secure as the purchaser is verified through biometric recognition and bank-level security, reducing the risk of fraud.
The brands offering Vyne can bypass card networks and their associated fees, helping to reduce costs and chargebacks, and accelerating cash flow with instant settlement.
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