Ryft, a payment platform for marketplaces and digital platforms, has partnered with American Express.
“We are now enabling our merchants within the UK to accept payments from Amex Cards,” Ryft said in a Thursday (March 14) post on LinkedIn.
This partnership will increase payment flexibility for eCommerce merchants in the United Kingdom, allow more digital platforms to accept Amex, and boost the competitive position of Ryft, FinTech Finance News reported in a Thursday article linked to by Ryft’s post.
“Super exciting news, Ryft is working with Amex to allow them to expand their network across our platforms and their merchants,” Ryft CEO Sadra Hosseini said in a Thursday post on LinkedIn.
“Amex is a strong card brand, especially when it comes to business to business payments,” Hosseini added in his post. “We are proud to be working together to mutually grow across this sector and bring some of the great Amex benefits to our merchants.”
Ryft’s unified payment platform processes payments for marketplaces and B2B platforms, diverts funds to merchants and sub-merchants the next working day, and does so without high fees and lengthy payout wait times, according to its website.
The company’s solution is compliant with the European Union’s (EU) Revised Payment Services Directive (PSD2), per the website.
“Many marketplaces are caught unaware by PSD2 compliance,” Ryft’s website said. “This presents a unique opportunity to capture market share by presenting a solution that fixes this and takes administerial headache away from finance teams.”
PYMNTS Intelligence has found that companies are adopting embedded payments as they strive to improve payments and cater their businesses to customer bases that value easy buying experiences enabled by the latest technologies.
By doing so, businesses can access markets more quickly and increase their market share through planned growth, according to “Platform Business Survey: The Rise of Embedded Payments,” a PYMNTS Intelligence and Carat from Fiserv collaboration.
Another recent report found that consumers who purchase from eCommerce marketplaces do so because they are seeking better prices than those offered directly from brands or merchants.
Affordability is the top priority for these shoppers, according to “The Online Features Driving Consumers to Shop with Brands, Retailers or Marketplaces,” a PYMNTS Intelligence and Adobe collaboration.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More