UK-based FinTech Primer is launching a unified payments API and checkout tool to help merchants connect with payment providers.
The startup is set up to help merchants seamlessly consolidate their payments stack and easily support future payment methods. The new API is set up to provide an open payment infrastructure to merchants through a single integration. Primer will then manage the front-end checkout process and backend consolidation of payments services.
The service will empower merchants to connect the likes of Stripe, Klarna, Amazon Pay, GoCardless, and WeChat, without writing a single line of code.
“Merchants don’t want to be constrained by payments any longer,” said Paul Anthony, co-founder and head of product and engineering at Primer. “They want to offer customers the experience they expect, wherever they are, and without compromising on UX and optionality at checkout. The payments landscape is evolving at a rapid pace, and merchants need to leverage best-in-class technologies at every step in the checkout process. Primer is designed to put merchants on the leading-edge of payments, and to keep them there.”
Anthony co-founded Primer in January 2020 together with Gabriel Le Roux, who now serves as the startup’s head of business development and strategy. They had met when they worked at the PayPal division Braintree.
Having recognised the opportunity in helping merchants scale their payment ecosystems, they launched the venture and in May they raised £3.8m in a seed round led by Balderton and joined by TransferWise co-founder Taavet Hinrikus. Seedcamp, Kima Ventures, and Speedinvest also participated in the round.
“Managing multiple PSPs and proprietary payment methods is no mean feat, yet larger merchants – particularly those operating in more than one geographical region – are often stuck supporting endless payment methods, resulting in poor user experience, lack of transparency, complex pricing and substantial technical overhead,” said Le Roux. “Merchants need all the help they can get when it comes to scaling payments globally, which is where Primer comes in.”
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