Finance & Economics

BigCommerce Partners Vyne for A2A Payments

Vyne and BigCommerce partnered to enable e-commerce merchants to improve their sales in a cost-effective way

Vyne BigCommerce

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The A2A payments platform Vyne announced a partnership with the leading Open SaaS e-commerce platform BigCommerce. All BigCommerce merchants can now access Vyne’s “Pay with Bank” solution in its proprietary marketplace.

The company works with both B2C and B2B brands, allowing their customers to make secure payments in three taps. The newly established partnership with Vyne will help merchants extract even more value from these transactions. Account-to-account (A2A) payment options have numerous benefits for both businesses and end-users.

For instance, the companies claim that merchants can save up to 80% per transaction compared to card payments. Besides, they would be able to offer real-time refunds to their customers. Furthermore, the app offers plug-and-play onboarding, so no additional efforts are required.

No cards, no registration and no manual data input are needed on the customer side as well. Buyers can make payments directly from their own banking apps in a few clicks. Meanwhile, merchants can collect one-off payments through both mobile and desktop checkouts.

Other than bypassing high-cost middlemen, Vyne’s frictionless payment process promises to increase conversion rates and streamline cash flow via instant settlement. The platform also offers automatic reconciliation and Secure Customer Authentication (SCA) compliance.

Customer identification and transaction authorization are performed with bank-level security and biometric authentication. Therefore, the merchants would receive even more benefits such as reduced fraud levels and zero chargebacks.

While A2A payments offer lower transaction costs, they couldn’t expand their reach for a while due to the barriers built by fragmented banking rails. However, open banking enabled A2A payments and presented immense potential growth in adoption.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.