Gr4vy has announced two new partnerships designed to transform and give optionality to how consumers pay with a bank account and empower merchants in the process. The new partnerships, now integrated into Gr4vy’s cutting-edge cloud-native payment orchestration platform (POP), are with Banked, the real-time payments network for consumers, businesses and banks, and GoCardless, a global fintech for account-to-account payments. With the payments industry moving toward open banking and real-time payment options, merchants who utilize Gr4vy’s POP can now offer customers the option to pay directly from a bank account with ease.

As part of the agreements between Gr4vy, GoCardless and Banked, merchants’ customers can now take advantage of open banking technology and direct debit payments to deliver more choice at checkout. Interchange fees have increased worldwide, leaving merchants to pay higher prices to accept credit cards. The ability to offer direct bank payment options provides an alternative to paying with a credit card and benefits merchants and customers alike. The addition of GoCardless and Banked payment options into Gr4vy’s POP constitutes significant ways to pay without credit cards and makes e-commerce more inclusive to millions of people globally.

“We evaluated merchant’s needs and the payments industry as a whole and recognized an increased need to deliver state-of-the-art and diverse ways to pay given the worldwide marketplace,” said John Lunn, CEO and Founder of Gr4vy. “Paying by credit card is always a viable option; however, the ability for consumers to pay directly from their bank account has become more critical due to costs merchants face when using other payment types. The increase in choice at checkout has also shown to increase sales. We’re proud to partner with Banked and GoCardless. Together we’re enabling merchants and their customers a simple, streamlined process while offering a variety of ways to pay based on their individual needs.”

The partnership between Gr4vy and GoCardless allows merchants’ customers to take advantage of worldwide payments directly from a bank account, whether they chose to use open banking for one-off payments or methods such as ACH Debit in the US, Direct Debit in the UK, and SEPA for the rest of Europe for recurring transactions. The addition of GoCardless, which processes over $20 billion in payments annually, gives merchants easy access to a trusted provider when it comes to account-to-account payments.

Thanks to the partnership between Gr4vy and Banked, merchants utilizing Gr4vy’s platform can now offer UK and European customers the option to select Pay by Bank as a payment method. Banked lets consumers securely checkout of an e-commerce basket with their mobile banking app, removing the need for cards or clunky registration processes. Banked also integrates with billing and invoicing platforms to allow consumers to instantly pay using QR codes and dynamic payment links. Banked supports a wide variety of bank providers within the UK and Europe, and the integration into Gr4vy’s platform allows merchants to take advantage of open banking technology.

Gr4vy’s cloud-native orchestration platform (POP) acts as a conduit between merchants’ e-commerce sites and payment providers and makes merchants’ payments stacks more nimble. Gr4vy offers Instances, which gives merchants individualized infrastructure in the Cloud, delivering the highest level of flexibility to manage payments and scale. Through Gr4vy’s POP, merchants can deploy across the globe and even on the Edge to ensure their customers always have the payment solutions and options they need regardless of location. Gr4vy’s customers can now add both Banked and GoCardless options in a matter of clicks from the company’s no-code admin layer and deploy in minutes, not weeks.

“Today’s consumers want more choice in how they pay; no longer is credit card the default or preferred option. One method that is gaining popularity is account-to-account payments, or those made from one bank account directly to another. Not only do they provide consumers a safer and more seamless way to pay, they lower costs and reduce churn for merchants too,” said Karl Stjernstrom, Head of Enterprise Partnerships for GoCardless. “We’re excited to offer these types of payments, from our best-in-class bank debit capability to new features harnessing open banking, to our joint customers with Gr4vy.”

“Gr4vy’s approach is cutting edge and is completely aligned with the merchant to reduce cost and increase conversion. Banked is excited to be integrated into the Gr4vy platform, building on our network of distributors. We believe the partnership with Gr4vy will be a way to accelerate the options available to both merchants and end consumers to drive down cost and increase payment security and efficiency,” said Brad Goodall, CEO and Co-Founder of Banked.

For more information on Gr4vy, please visit gr4vy.com/

Gr4vy has announced its successful completion of PCI Level 1 certification, which ensures that partner companies store, transmit or process payment data to the highest security standards. Gr4vy’s PCI Level 1 compliant status results from undergoing a rigorous annual assessment with a qualified security advisor and an extensive self-assessment questionnaire, while meeting a set of established rules laid forth by the Payment Card Industry Security Standards Council (PCI SSC). The certification establishes that Gr4vy has met the highest level of payment account data security and ensures merchants that utilize the cloud-native payment orchestration platform (POP) can be confident that their customer’s payment details are securely stored and protected within Gr4vy’s Vault.

“Given today’s current climate of data breaches and stolen financial details, security is of the utmost concern for merchants and their customers,” said John Lunn, founder and CEO of Gr4vy. “With the completion of this certification, we affirm that our cloud-native platform and PCI1 Certified Vault adheres to the highest level of security and data privacy. PCI standards ensure that merchants and their customers never have to worry about storing sensitive payment details or compromised data. We are firmly committed to maintaining PCI1 compliance and are proud to have achieved this certification.”

Gr4vy’s PCI1 Certified Vault is part of the company’s innovative cloud-native POP that acts as a conduit between merchants’ e-commerce sites and payment providers, and makes merchants’ payments stacks more nimble. Gr4vy offers Instances, which gives merchants individualized infrastructure in the Cloud, delivering the highest level of flexibility to manage payments and scale. Through Gr4vy’s POP, merchants can deploy across the globe and even on the Edge to ensure their customers always have the payment solutions and options they need regardless of location. Centralized reporting, monitoring and management mean all parts of a merchant’s business benefit from a single streamlined system.

Benefits and Features of Gr4vy’s Vault:

• Gr4vy’s PCI1 Certified Vault allows merchants to move fluidly across their current and future payment service providers, storing and securing customer payment details in Gr4vy’s Vault.
• The vault belongs to the merchant and prevents them from being locked into a single solution provider, at the same time allowing Gr4vy to create a one-click checkout experience.
• With Gr4vy’s PCI1 Vault, merchants can endlessly switch their payment service providers (PSPs) without concern over whether or not their customer payment details will transfer seamlessly.

“As we set out to build our cloud-native POP, we recognized the need to provide merchants with the assurance and flexibility to store vital payment details,” said Ali Minaei, co-founder and CTO of Gr4vy. “With this certification, we have positioned Gr4vy as a leading payments orchestration platform within the industry and will continue to offer the security, features, and benefits merchants need to run their business. By using Gr4vy, merchants of all sizes no longer need to worry about being PCI Certified to accept online payments as Gr4vy takes that complexity away from the merchants.”

For more information, please visit gr4vy.com/

Gr4vy, a cloud-native payments company, has announced the launch of its intuitive, cutting-edge payment orchestration platform (POP) that leverages the power of the cloud to modernize payments infrastructure. The company also closed its Series A funding round of $11.1M, led by Nyca Partners with participation from Activant Capital, Global Founders Capital, and Firestartr, bringing its total funding to $12.2M.

As e-commerce sales continue to grow and more companies are expanding internationally, payment orchestration has become even more important. McKinsey projects that by 2025, global payments revenue will reach roughly $2.5T, and by 2024, e-commerce retail sales are expected to account for 21.8% of all retail sales worldwide. Merchants looking to capture a share of the market need a payments orchestration platform (POP) that offers payment infrastructure and the ability to scale.

The $15 million in Series A extension funding, led by March Capital, a top-tier venture capital firm known for investing in companies poised for hyper-growth globally, with participation from Nyca Partners, Activant Capital and Plug and Play Ventures, will be used to accelerate its product roadmap and meet merchant demand.

“Worldwide growth in various payment methods and processors has led merchants to build increasingly complex payment infrastructure that’s highly inflexible when it comes to the fintech and payments market,” said John Lunn, founder and CEO of Gr4vy. “Payment orchestration shouldn’t be overly complicated. Our cloud-native POP delivers modern payment infrastructure and allows merchants to expand and manage payment methods, services and transactions in a no-code/low code fashion with just a few clicks. As we continue to supercharge merchants’ payment stacks and deliver new products and services, we’re honored to have the backing of such trusted names in venture capital, such as March Capital.”

“Digital payments methods today come in more forms than ever before, resulting in merchants feeling overwhelmed. There are BNPL providers, credit cards, account-to-account services, crypto and a wide array of local payment solutions – all of which differ by geography and require engineering teams to integrate,” said Solomon Hailu, Partner of March Capital. “March is excited to partner with John and the Gr4vy team as they help merchants simplify and manage payment infrastructure via a cloud-native, easy-to-use, orchestration platform at a time when e-commerce strategy is mission critical.”

The recent series brings Gr4vy’s total funding to $27.2M. Since its launch in April, the company has nearly doubled its valuation, reflecting its strong growth and its demonstrated value to merchants globally.

“It used to be easy for merchants to implement a payments infrastructure, but over the past 10 years it has become numbingly complex,” said Hans Morris of Nyca. “Companies really just want to sell their goods and services, accept whatever payment works best for the customer, and minimize their cost and risk. Sounds simple, right? But it’s a nightmare, and since the payments environment keeps changing at a dizzying speed, even big global merchants don’t have the engineering resources to devote to this. That’s why Gr4y is perfect for this moment. And the team John has built is widely respected for their payments expertise and credibility.”

Gr4vy redefines the payments industry and payment orchestration by empowering merchants to grow their payment services without months of coding and in just a few clicks, ensuring customers always have the payment solutions and options they need worldwide. Acting as a conduit between merchants’ shopping carts and payment providers, Gr4vy’s POP upgrades merchants’ payments stack and payment methods to make them more agile. For more information about the benefits of Gr4vy, check out the platform, or get in touch with our team.

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