CellPoint Digital partners with Vyne to enable instant Open Banking payments for merchants
By Joy Dumasia
- CellPoint Digital
CellPoint Digital announces a partnership with full-stack account-to-account (A2A) payments specialist, Vyne. This partnership allows the Vyne platform to offer instant payments to CellPoint Digital’s merchant customers, allowing users to check out faster than ever before and reducing merchant transaction costs.
Through CellPoint Digital’s Velocity Payment Orchestration Platform, merchants can incorporate Vyne into their payment ecosystem, providing all the speed and convenience of instant payments without the need for direct integration with an open banking provider. With transactions intelligently routed and monitored in real-time, merchants can analyse performance and use data to cut costs, boost acceptance rates, and simplify operations via automated reconciliation.
By partnering with Vyne, CellPoint Digital’s merchants can now access improved payment experiences too. Harnessing open banking technology, the Vyne solution allows online shoppers to check out in as few as three clicks and offers settlements within seconds.
The Vyne solution functions by using a customer’s existing online banking app to initiate and authenticate a transfer. As a result, the customer does not need to enter their account information online. The merchant never holds sensitive financial details, resulting in a more secure process for both parties. By enabling a payment method that can be completed in just three clicks, the platform provides a seamless and straightforward experience that can help to reduce cart abandonment.
CellPoint Digital CEO, Kristian Gjerding, said: “The partnership with Vyne represents a significant addition to CellPoint’s payments offering. Merchants currently using our Velocity Payment Orchestration Platform can utilise all the benefits of the Vyne platform within their payments ecosystem, and this will provide merchants with a greater opportunity to grow their business. At CellPoint, we put much stock into our partnerships. To us, they are more than simply functional, and with Vyne being fellow innovators in the payments space with a track record of supplying top tier merchants, we look forward to developing a long-lasting, collaborative relationship.”
Thanksgiving 2021: 4 reasons to be thankful for FinTech
IBSi Prime News
The deep dive: Fraud risk on Black Friday
- Daily insightful news analysis
- Weekly snapshot of the industry deals, events & insights
- Sectoral deep dives on the hottest FinTech trends
- Exclusive interviews featuring c-level executives shaping the industry
- Profiles of the most influential established and emerging companies in the sector
- Weekly global FinTech use cases
- Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage