Montonio, a checkout orchestration platform, has partnered up with payments technology platform Episode Six.
This deal will help Montonio create a modern, future-ready payments ecosystem that breaks barriers of traditional card processing and acquiring. It will allow Montonio’s merchant customers to reduce the cost of payments and reduce payment times.
Montonio, which has a strong presence in the Nordics, offers ecommerce merchants a payment solution based on open banking, which can considerably cut costs compared to traditional payment methods.
The company wants to reach and recruit merchants with larger transaction volumes, and to do this it needed a payment technology partner that could give them a digital ledger to ensure payments can flow instantly between buyer and merchant accounts and support chargebacks when troublesome transactions occur.
This is where Episode Six’s Tritium platform can help. The solution boasts over 550 APIs that help develop, customise and launch tailored payments products and services.
Through this technology, Montonio can effect chargebacks automatically and efficiently for any problematic transaction. As these payments are irrevocable, there’s no chargeback risk for merchants and banks.
Montonio co-founder and CTO Kristofer Turmen said, “To help us unlock further growth, we needed a payment technology provider that could support our open banking service.
“We’re constantly looking to provide our merchant customers a more positive and innovative payments experience. By partnering with Episode Six and leveraging its flexible solution, we’re now able to do just that. This partnership also means we can cater to larger merchants with higher transaction volumes.”
In other PayTech news, Ryan Reynolds, an actor and serial investor, announced he has invested in Canadian FinTech firm Nuvei. Nuvei is a global payments technology company dedicated to accelerating its customers’ revenue growth through payments.
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