Ryft and Collctiv join forces to enhance the group payment experience, offering personalized checkouts and convenient money pots.
The marketplace payment platform Ryft and the group payments fintech Collctiv have teamed to give group payment users a more personalized checkout process.
The new arrangement allows Collctiv to use Ryft’s experience to provide lower fees and more flexible payment options. Another Ryft-enabled feature that makes money collection easier for organizers of group gifts and activities is the creation of money pots.
By personalizing the payment experience for Collectiv users, customizable payment links will increase user engagement. Furthermore, it appears that the partnership will significantly improve the company’s merchant onboarding procedures, increasing operational efficiency and transparency.
“We are thrilled to collaborate with Ryft as their technology enhances our ability to offer improved payment options through the Collctiv app,” said Pete Casson, CTO and co-founder of Collctiv. This collaboration not only simplifies the process of collecting money but also establishes the groundwork for any future growth.
“Collaborating with a fellow northern British company like Ryft is a testament to the robustness of the North and its pivotal role in shaping the future of British commerce, as our shared commitment to exceptional customer support aligns seamlessly.”
“This is an exciting moment for Manchester’s fintech scene with two of its most innovative companies joining forces for a highly relevant strategic partnership,” said Sadra Hosseini, CEO of Ryft, in a statement about the agreement. We’ve been huge admirers of Collctiv’s work for a long time, and we think the addition of our supplementary services will enable the business to further enhance its offering.
Manchester is thriving
Although other cities in the nation are swiftly catching up, London has established itself as the UK’s premier location for financial innovation. Leeds and Manchester have emerged as major centers of innovation in recent years, contributing to the North of England’s particular flowering. The recently formed alliance serves as yet another illustration of Manchester’s growing financial scene. Additionally, it will assist in expanding both businesses’ horizons inside Europe and beyond, opening up new markets.
November 1, 2023, was the formal start date of the new collaboration. The joint venture has shown a 7% rise in Apple Pay transactions since its inception. This demonstrates the increased autonomy and adaptability that consumers enjoy throughout the payment process. Collctiv and Ryft intend to keep working together going forward as they both want to accelerate their growth goals on a national and worldwide scale.
