BigCommerce partners with Vyne to offer A2A payments to online merchants
Account-to-account (A2A) payments platform Vyne has partnered with BigCommerce, a Software-as-a-Service (SaaS) ecommerce platform, to enable merchants to accept instant payments and make refunds in real time.
Vyne uses Open Banking to power A2A payments for online businesses, making it BigCommerce’s first Open Banking partnership.
Through the partnership, all BigCommerce merchants will have access to Vyne’s Pay with Bank A2A payment solution in the BigCommerce marketplace app, helping them to save up to 80% per transaction compared to card payments.
Vyne’s chief revenue officer Luke Flomo said that traditional payment solutions are not just “slow and clunky” for consumers, but are “stacked against” merchants, calling them “expensive, slow and full of friction”.
“We’re delighted to be one of BigCommerce’s Open Banking payments providers to integrate with the platform,” he added.
“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.”
All transactions comply with Secure Customer Authentication (SCA), which helps to reduce instances of fraud.
Meghan Stabler, senior vice president at BigCommerce, said: “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.”