Primer, an innovative payments automation platform, offers the infrastructure needed for seamless commerce experiences. Their new partner, Volt, specialises in constructing global infrastructure for real-time payments, thus significantly contributing to the world of instant banking transactions.
The primary impetus behind this partnership is the current challenging economic environment in the UK, with high inflation and a looming cost of living crisis causing businesses to seek ways to optimise costs. By providing instant bank payment options (account-to-account payments) through Volt’s open banking network, the Primer-Volt alliance aims to support merchants during this market downturn.
Primer’s aim is to provide a wide range of payment services for global merchants that can adapt to the fluctuating needs of consumers. The platform allows for the addition of an instant payment option directly at checkout, enhancing the experience for customers.
Volt, on the other hand, is committed to building a global network for real-time payments, thereby facilitating instant bank transactions. Through their technology, they enhance online checkout and in-store payment experiences for both merchants and customers alike.
This strategic partnership between Primer and Volt began technical integration in May 2023. It enables merchants to accept real-time account-based payments through Primer’s platform, while also improving online and in-store payments experiences using open banking technology. The first Primer customer to integrate Volt’s instant payment method will be online retailer, 77Diamonds.
Primer clients can integrate Volt’s real-time payments network in the UK, EU, and Brazil. This will enable them to offer a ‘Pay by Bank’ experience to their customers, with the benefits of faster settlements, lower transaction fees, and no chargebacks.
Primer CEO Gabriel Le Roux said, “The addition of Volt to Primer’s ecosystem demonstrates our ongoing commitment to global payment innovation and flexibility for our merchants…Our partnership with Volt makes this possible.”
Volt’s VP Partnerships Richard Drury said, “We’re thrilled that Primer has selected Volt as a provider of real-time open banking payments…Primer and Volt share a commitment to payment optimisation and innovation, and I look forward to seeing what we can achieve together.”
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