CellPoint Digital is partnering with Vyne to enable instant open banking payments for merchants
From Joy Dumasia
November 26, 2021
- CellPoint Digital
CellPoint Digital announces a partnership with full-stack account-to-account payment specialist (A2A) Vyne. This partnership enables the Vyne platform to offer instant payments to CellPoint Digital’s merchant customers, enabling users to pay faster than ever and reducing the merchant’s transaction costs.
Via CellPoint Digital’s Velocity Payment Orchestration Platform, merchants can integrate Vyne into their payment ecosystem and thus offer the speed and convenience of instant payments without direct integration with an open banking provider. With intelligently routed transactions monitored in real time, merchants can analyze performance and use data to reduce costs, increase acceptance and simplify operations through automated reconciliation.
By partnering with Vyne, CellPoint Digital merchants can now access enhanced payment experiences. The Vyne solution uses open banking technology and enables online shoppers to check out with just three clicks and offer invoices within seconds.
The Vyne solution works by using a customer’s existing online banking app to initiate and authenticate a transfer. This eliminates the need for the customer to enter their account information online. The trader never stores sensitive financial information, which makes for a safer process for both parties. By enabling a payment method that can be completed with just three clicks, the platform offers a seamless and hassle-free experience that can help reduce shopping cart abandonment.
Kristian Gjerding, CEO of CellPoint Digital, said, “The partnership with Vyne is a significant addition to CellPoint’s payment offering. Merchants currently using our Velocity Payment Orchestration Platform can take full advantage of the Vyne platform within their payment ecosystem, and can do so gives traders a greater chance to grow their business. At CellPoint, we value our partnerships. For us, they’re more than just functional, and since Vyne is a co-innovator in payments and has a track record of delivering to top-notch merchants, we look forward to developing a long-term, collaborative relationship. “
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