Account-to-account payments platform Vyne has teamed up with Gr4vy, a cloud-native payment orchestration platform (POP), to give online merchants open banking payment infrastructure.
Gra4y’s cloud native payment orchestration platform lets merchants streamline and manage payment methods, services and transactions from a simple location.
Through this partnership, Gra4y’s merchant partners will have access to Vyne’s suite of account-to-account payment processing solutions. Once referred, Vyne’s integration process allows merchants to offer payments through three clicks and enable instant settlement while bypassing high-cost middlemen.
It claims the frictionless payment process will help improve conversions by offering a seamless UX through multiple channels, including online checkout, payment by SMS, chat or email, and QR codes.
Vyne chief revenue officer Luke Flomo said, “In keeping with our common vision of creating an ecosystem that redefines the payment experience for merchants and consumers, we are excited to partner with Gr4vy to introduce Open Banking to the masses.
“Founded by industry veterans, Gr4vy’s market-leading cloud based platform offers the ultimate scalability, our partnership empowers both merchants and consumers to access account-to-account payments’ security, speed, efficiency, and cost effectiveness.
Gr4vy kicked off 2022 with the close of a $15m funding round, which was led by March Capital. The round was also supported by Nyca Partners, Plug and Play Ventures and Activant Capital.
Last year, Vyne closed the largest seed funding round of any UK open banking startup, picking up $15.5m. The round was supported by Hearst Ventures, Entrée Capital, Triplepoint, Seedcamp, Venrex, Founder Collective and Partech.
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