Pay.com Partners with Volt to Revolutionize Open Banking Payments for Merchants
Volt, a leading real-time payments platform, has been appointed as the strategic open banking partner for Pay.com, a prominent provider of payment orchestration infrastructure. This partnership is set to significantly enhance payment capabilities for merchants utilizing Pay.com across various industries, including WealthTech, retail, and iGaming, as reported by FF News.
Enhancing Payment Solutions with Instant Bank Transfers
This collaboration will provide Pay.com merchants with access to Volt’s Instant Bank Transfer solution. This feature enables end users to securely conduct transactions directly from their bank accounts in real-time, thereby improving payment speed and reliability.
Innovative Approach to Consumer Adoption
Instead of simply integrating Volt’s open banking solution, Pay.com has taken a unique approach by developing functionalities that promote consumer adoption and build trust. Key features include:
- Pre-authorized credentials: Securely identify end users.
- Banking options display: Show banking options linked to users’ financial profiles.
This streamlining of the payment process allows consumers to easily select their preferred bank and initiate transactions without hassle.
Improving User Experience with SDK Integration
Merchants using Pay.com can also utilize Volt’s solution through its Software Development Kit (SDK), allowing customers to complete bank payments directly within the merchant’s app or website. This integration eliminates the need for redirects, simplifying the user experience and driving higher conversion rates.
Statements from Leadership
Kim De Jesus, Pay.com’s Global Head of Partnerships, expressed, “Partnering with Volt has been a remarkable experience. The agility and efficiency demonstrated by both organizations allowed us to go from signing to launch in under a year, reflecting our shared commitment to delivering exceptional solutions.”
Elaine Smith, Head of Partnerships at Volt, emphasized the seamless nature of the collaboration, stating, “This partnership not only strengthens our position in the marketplace but also enhances the value we offer to merchants and customers.”
Shared Values and Future Directions
Both companies are excited about deepening their strategic partnership as they explore innovative solutions that could redefine the payments landscape. Key values driving this collaboration include:
- Accessibility: Ensuring services are available to all consumers.
- Global Reach: Expanding the services to a wider audience.
- Innovation: Continuously improving and adapting payment solutions.
This partnership not only positions Pay.com favorably in the open banking payments ecosystem but also capitalizes on growth opportunities alongside Volt. For more information about open banking solutions, you can visit Open Banking UK.
