Vyne, the open banking platform, launches a new feature allowing businesses to send flexible and affordable payment links without integration.
Vyne, a platform for account-to-account payments driven by open banking, has introduced a new no-code payment connections offering. With the launch, Vyne hopes to make it possible for businesses to send adaptable, quick, and affordable payment links without the need for any kind of integration.
In order to collect payments, retailers can utilize Vyne’s new no-code payment links solution to automatically create and distribute payment link emails using an intuitive gateway or through customized URLs that can be added to the merchants’ existing communications.
With immediate refunds that can be started with the press of a button on the portal and simple reconciliation with downloadable reports and customized transaction references, such no-code payment links make it simpler for merchants to manage payments.
As clients can make and finish payments in as few as three clicks on their own mobile banking app, merchants may also profit from Vyne’s checkout experience.
The new solution may also make it possible for companies from a number of industries to streamline their money collection processes. Businesses that typically accept payments over the phone, like travel agencies or hotels, can provide clients with a more secure, user-friendly method of payment, eliminating the possibility of chargebacks.
William Hand, product director at Vyne, spoke about the demand for more payment simplicity: “How to take advantage of new, simpler ways to pay is one of the main difficulties facing retailers today.
“With an off-the-shelf solution, our no-code payment links product unlocks the full ease of open banking and enables merchants to set up and request payments in a matter of hours. Our no-integration solution, together with our automated onboarding process and optimized checkout, assists in simplifying the payment process.
“Merchants can keep more of their laboriously earned money”
Because customers are given a payment link that enables them to finish their purchase immediately from their inbox, regardless of where they are, consumers may benefit from the quickness and simplicity of the straightforward checkout procedure. This increases payment conversion and streamlines merchant cash flow with instant settlement.
The advantages of the new product were also discussed by Luke Flomo, chief revenue officer at Vyne: “Our no-code payment links solution is a perfect fit for those merchants seeking a simple, cost-saving payment method without investing time in integrating. Integrations often involve time, money, and operational effort.
Payment links eliminate the need to accept card payments over the phone and get around expensive card fees, allowing merchants to keep more of their hard-earned money while also saving on integration costs and meeting PCI DSS compliance criteria.
The Financial Conduct Authority has authorized and overseen Vyne as an authorized payment institution.