As part of the agreements between Gr4vy, GoCardless and Banked, merchants' customers can now take advantage of open banking technology and direct debit payments to deliver more choice at checkout.
San Mateo, CA – September 8, 2021
Gr4vy, a cloud-native payments company, today announced two new partnerships designed to transform and give optionality to how consumers pay with a bank account and empower merchants in the process. The new partnerships, now integrated into Gr4vy's cutting-edge cloud-native payment orchestration platform (POP), are with Banked, the real-time payments network for consumers, businesses and banks, and GoCardless, a global fintech for account-to-account payments. With the payments industry moving toward open banking and real-time payment options, merchants who utilize Gr4vy’s POP can now offer customers the option to pay directly from a bank account with ease.
As part of the agreements between Gr4vy, GoCardless and Banked, merchants' customers can now take advantage of open banking technology and direct debit payments to deliver more choice at checkout. Interchange fees have increased worldwide, leaving merchants to pay higher prices to accept credit cards. The ability to offer direct bank payment options provides an alternative to paying with a credit card and benefits merchants and customers alike. The addition of GoCardless and Banked payment options into Gr4vy’s POP constitutes significant ways to pay without credit cards and makes e-commerce more inclusive to millions of people globally.
John Lunn, CEO and Founder of Gr4vy said:
The partnership between Gr4vy and GoCardless allows merchants’ customers to take advantage of worldwide payments directly from a bank account, whether they chose to use open banking for one-off payments or methods such as ACH Debit in the US, Direct Debit in the UK, and SEPA for the rest of Europe for recurring transactions. The addition of GoCardless, which processes over $20 billion in payments annually, gives merchants easy access to a trusted provider when it comes to account-to-account payments.
Thanks to the partnership between Gr4vy and Banked, merchants utilizing Gr4vy's platform can now offer UK and European customers the option to select Pay by Bank as a payment method. Banked lets consumers securely checkout of an e-commerce basket with their mobile banking app, removing the need for cards or clunky registration processes. Banked also integrates with billing and invoicing platforms to allow consumers to instantly pay using QR codes and dynamic payment links. Banked supports a wide variety of bank providers within the UK and Europe, and the integration into Gr4vy’s platform allows merchants to take advantage of open banking technology.
Gr4vy's cloud-native orchestration platform (POP) acts as a conduit between merchants' e-commerce sites and payment providers and makes merchants' payments stacks more nimble. Gr4vy offers Instances, which gives merchants individualized infrastructure in the Cloud, delivering the highest level of flexibility to manage payments and scale. Through Gr4vy's POP, merchants can deploy across the globe and even on the Edge to ensure their customers always have the payment solutions and options they need regardless of location. Gr4vy's customers can now add both Banked and GoCardless options in a matter of clicks from the company's no-code admin layer and deploy in minutes, not weeks.
Karl Stjernstrom, Head of Enterprise Partnerships for GoCardless said:
Brad Goodall, CEO and Co-Founder of Banked said:
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