Waave joins forces with Gr4vy to introduce the Pay by Bank solution, targeting major Australian retailers.
Waave, an open banking payment technology company, has teamed up with Gr4vy, a global payments orchestrator, to launch its Pay by Bank solution for key Australian retailers.
Waave developed an open banking-powered payment system with the goal of drastically lowering payment expenses for Australian retailers. Pay by Bank is a service that is accepted by all Australian banks and offers enhanced security according to Waave’s Consumer Data Right approval.
With no need for a third party and no need to enter or share card details, the open banking-powered payment method provides customers with a safe and surcharge-free substitute for traditional credit cards.
John Lunn, the CEO and founder of Gr4vy, spoke about the partnership: “Our partnership offers a cutting-edge Pay-by-bank solution that aligns with our commitment to streamlining payment processes while simplifying the integration and maintenance burden for merchants. It marks a significant milestone in embracing open banking.”
“This partnership offers retailers a unique opportunity to optimize transaction costs and enhance payment security, while also improving the payment experience for consumers.”
Barbeques Galore is set to launch Waave’s Pay by Bank solution this month, making it the first big retailer in Australia to take advantage of its relationship with Gr4vy. Payments have emerged as a critical area of attention for Barbeques Galore as they balance cutting-edge technologies, consumer desire for Buy Now Pay Later plans and other payment forms, and more conventional transaction facilitation techniques. Barbeques Galore is committed to driving efficiency throughout the business.
Assisting merchants
Instead of focusing on increasing top line sales during the most recent ASX reporting season, the majority of retailers talked about operating costs. In addition to controlling rising expenses, Barbeques Galore is sustaining growth in top-line revenue. Furthermore, Waave and Barbeques Galore are collaborating to investigate methods of optimizing Waave’s technologies throughout the retailer’s Barbeque Legends Club loyalty program.
Waave’s CEO and co-founder Ben Zyl continued, saying, “With Pay by Bank, our goal is to reinvent the payment experience.”
“Merchants have been kept ransom for far too long. Digital payments may now be made easily, quickly, and securely without breaking the bank thanks to current technology.
“We are excited to be collaborating with Gr4vy and big-name retailers like Baby Bunting and Barbeques Galore to lower their payment expenses while providing their customers with quick, easy access to their money with complete security and transparency – no more hidden fees or sharing card information.”
Barbeques Galore’s CFO, Mitchell Koureas, said the following to highlight the importance of the collaboration: “We are thrilled to be collaborating with Gr4vy and Waave to offer our customers a new surcharge-free option and lead the industry in the adoption of Open Banking.”
“By doing this, we can reduce our merchant fees while providing our customers with a seamless, secure, and equitable payment experience. We’re also looking into utilizing this technology to provide a one-tap checkout process that works with our other member perks, such as discounts, first access to culinary classes, and other special offers.
