BigCommerce selects Vyne as A2A payment partner for online merchants
BigCommerce’s first open banking partnership enables merchant customers to accept instant payments, make refunds in real-time, and save up to 80% per transaction.
Vyne, the specialist account-to-account payments platform, announced a partnership with BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands that allows consumers to make highly secure payments in just three taps.
BigCommerce’s mission is to help merchants of all sizes sell more at every stage of growth with its leading Open SaaS solution. As eCommerce continues to grow in importance to British retailers of all sizes, with Insider Intelligence predicting over 4% online sales growth in 2022, Vyne’s partnership with BigCommerce will help merchants extract even more value from these transactions.
All BigCommerce merchants can now access Vyne’s Pay with Bank account-to-account payment solution in the BigCommerce marketplace app. The app offers plug and play onboarding, so no bespoke integration is required. This means merchants can be saving up to 80% per transaction compared to card payments, whilst offering real-time refunds to their customers, in a matter of minutes.
Luke Flomo, Chief Revenue Officer, Vyne, commented, “We’re delighted to be one of BigCommerce’s open banking payments providers to integrate with the platform. Ensuring that the process of making a payment is quick and easy for consumers has never been more important, and our partnership will deliver this and so much more to online merchants.”
Beyond enabling online retailers to bypass high-cost middlemen, Vyne’s frictionless payment process increases conversion rates and streamlines cash flow via instant settlement. Security is also improved as all transactions are Secure Customer Authentication (SCA) compliant, significantly reducing fraud and eliminating chargebacks entirely. Automatic reconciliation is offered as standard.
“Traditional payment solutions aren’t just slow and clunky for consumers, they are stacked against merchants – expensive, slow and full of friction,” Flomo continues. “It is our mission to restore payment power to merchants and their customers and collaborating with BigCommerce is a significant step on this journey.”
Meghan Stabler, senior vice president at BigCommerce, added, “It’s essential that online merchants allow their customers to pay for goods and services easily, seamlessly, and in line with their personal preferences. Our partnership with Vyne delivers all of those benefits and more. The team’s deep understanding of the payments landscape, and the unparalleled functionality of its platform, make them the clear leader in their field, and the obvious partner to support BigCommerce with offering our merchants open banking payments tools.”
Vyne’s frictionless payment process increases conversion rates and streamlines cash flow via instant settlement. Security is also improved as all transactions are Secure Customer Authentication (SCA) compliant, significantly reducing fraud and eliminating chargebacks entirely. Automatic reconciliation is offered as standard.