The collaboration between the two companies aims to support banks with a modern, data-driven processing proposition, leveraging an Android-led in-person payment solution. This initiative enables banks to cater to Independent Software Vendors (ISVs), offer all-in-one smart Point-of-Sale (POS) products, and facilitate stand-alone payments within a unified and fully integrated processing platform at a global level.
According to the official press release, the partnership addresses the necessity for banks to reclaim ownership of their merchant propositions by offering a flexible payment acceptance infrastructure. This seamless solution facilitates banks in re-establishing their merchant relationships, providing a forward-thinking approach to meet evolving digital payment demands.
Representatives from Silverflow talked about collaboration's significance in delivering a compelling alternative for banks to regain control over their payment offerings to merchants. The joint solution will rely on a mix of data and speed paired with a proven terminal orchestrator, to upgrade banks' payment offerings and excel in the digital payment landscape.
The official press release details how regional banks can benefit from this partnership. In essence, the joint solution aims to free them from the constraints of legacy processors, enabling them to create and own their acquiring propositions. Officials from Aevi highlighted the partnership's role in advancing full digitisation and eliminating friction points within the payment industry. The initiative aims to ensure in-person payment processes are as open and programmable as their ecommerce counterparts, thereby enabling clients to take advantage of the full potential of data and design customised checkout flows.
Aevi specialises in in-person payment orchestration, offering new payment solutions through a global, open platform that is API-driven, device-agnostic, and solution-independent. As for Silverflow, it provides a cloud-native payment processing platform with a single API to card networks, supporting the payments industry with its cloud-based processing technology.
In July 2023, Aevi partnered with US-based fintech Bleu to bring Tap-to-Pay functionality to merchants in North America and Europe. Through this partnership, merchants gained the ability to accept touchless payments in a seamless and convenient way on both Android and iOS.
Moreover, customers stood to benefit from a faster and more convenient checkout experience. Through a single integration, Aevi offered businesses access to a varied range of products and services, including Tap-to-Pay functionality, without the need for complex integrations or multiple systems.
For more information about Aevi, please check out their detailed profile in our dedicated, industry-specific Company Database.
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