Acquired.com launches ‘groundbreaking’ offering with Multipay

Payments technology provider MultiPay Global Solutions has chosen payments platform Acquired.com as the Open Banking provider for its in-person point-of-sale (POS) products and gateway services.

Together, MultiPay and Acquired.com have launched Pay by Bank for POS in the UK, using Acquired.com’s proprietary Pay by Bank technology and MultiPay’s terminals.

The new Pay by Bank for POS product eliminates interchange and scheme fees for merchants, and also gives merchants access to their funds, for “seamless” financial management.

Customers benefit from a solution that requires no additional downloads, given that they only need to scan the QR code displayed on the MultiPay payment device and then authorise the payment “in seconds”.

Once the payment has been approved, it is processed and the funds move from the customer’s bank account to the merchant’s settlement account.

Grant Evans, head of partnerships at Acquired.com, said: “We are delighted to have partnered with MultiPay to launch our proprietary in-store Pay by Bank proposition across both their client base and that of Acquired.com, in what is a further strengthening of an already flourishing partnership.

“This ground-breaking offering, running alongside numerous card acquirer integrations and a unified commerce reporting setup, will be a game changer for point-of-sale Open Banking rails.”

Acquired.com said that the expansion of its partnership with Multipay enables it to make “groundbreaking progress” in the adoption of face-to-face Open Banking payments, which can be offered alongside card payments and digital wallets.

Acquired.com launched ‘Hosted Checkout’, its “pre-built, highly customisable” solution which allows merchants to accept credit and debit card, Apple Pay, Google Pay and Open Banking payments via a single integration, last year.