Acquired.com, a next-generation payments platform, has been selected by MultiPay Global Solutions, a leading provider of payments technology, as the Open Banking provider for MultiPay’s in-person Point of Sale (POS) products and gateway services.
The elevated partnership offers new and existing merchants a cutting-edge in-person Open Banking solution using Acquired.com’s proprietary Pay by Bank technology and MultiPay’s terminals. This sophisticated hardware option enables merchants to enhance their in-person payment solutions, allowing face-to-face customers to pay directly from their banking environment.
The Pay by Bank for POS product presents an array of advantages for merchants. By eliminating Interchange and Scheme fees, it paves the way for significant cost savings. The solution also delivers an unrivalled system that gives merchants instant access to their funds, ensuring seamless financial management.
For customers, the payment process is superior. The Pay by Bank solution requires no additional App downloads; the customer simply scans the QR code displayed on the MultiPay payment device and authorises the payment in seconds. Once approved, the payment is processed and funds move seamlessly from the customer’s bank account to the merchant’s settlement account, ensuring swift and hassle-free transactions.
“We are delighted to have partnered with MultiPay to launch our proprietary in-store Pay by Bank proposition across both their client base and that of Acquired.com, in what is a further strengthening of an already flourishing partnership. This ground-breaking offering, running alongside numerous card acquirer integrations and a unified commerce reporting setup, will be a game changer for Point of Sale Open Banking rails.” – Grant Evans, Head of Partnerships, Acquired.com.
“At MultiPay we prioritise using the latest technologies to give merchants more freedom and control over their payments, helping them to reduce costs and deliver superior customer experiences. Pay By Bank is a revolutionary leap in alternative payments, poised to redefine in-store transactions by providing a quicker and more convenient shopping experience for consumers and a way for merchants to realise greater returns from customers’ spend as they look to improve efficiencies and keep costs under control.” – David Maisey, CEO, MultiPay Global Solutions.
As Acquired.com continues to develop its data-driven, unified payments platform, the elevated partnership with MultiPay Global Solutions enables the company to make groundbreaking progress for face-to-face Open Banking payments. At present, card usage is firmly embedded in UK spending habits, both online and in-person. Acquired.com’s ongoing mission has been to create a streamlined proprietary Open Banking solution, alongside card payments and digital wallets, which enables forward-thinking businesses to offer their customers a choice of payment methods.
Traditionally, integrating Open Banking payment solutions involves working with an additional provider and spending valuable time and money. Acquired.com’s unified solution removes the need for separate integrations, and instead allows businesses to test and implement Pay by Bank alongside traditional payment methods, without sacrificing the customer experience.
Replacing card payments with Open Banking at POS will be a challenge, but one that is worthwhile both for merchants and customers. Acquired.com and MultiPay Global Solutions have built an seamless journey that could pave the way for an innovative use case that ignites adoption at scale in the UK.
About Acquired.com
Acquired.com have built a next-generation, unified platform that offers access to cutting-edge technology and data insights to power recurring commerce. The Acquired.com platform offers full payment life cycle management, including Pay by Bank, card processing, direct debit, and sending and receiving payments. Our exceptional sector expertise and a highly tailored service enables businesses to gain a competitive advantage to accelerate their growth.
With our market-leading technology and multi-acquiring strategy, we digitise and streamline payments, customising our solutions to align with the individual needs of each customer. We pride ourselves on our advisory approach, providing best-in-class service with a view to resolving complex challenges. Embed efficient payments into your organisation to improve liquidity, drive operational efficiency, and create a superior user experience for your customers.
Acquired.com are an FCA-regulated business, an EMD Agent, and a licensed Payment Initiation Service Provider.
About MultiPay Global Solutions
Headquartered in London, Milan, and Copenhagen, The MultiPay Group is a payments technology company that enables large merchants across the world to accept any payment, anywhere. Its all-in-one agnostic payment solution combines a unique API that acts as a single point of integration between any payment method and any acquirer. MultiPay’s gateway works across all payment channels in any sector including retail, hospitality, travel, and transportation.
Combined with its personalised, couture experience, MultiPay is the single point of contact for all payment requirements and ensures it delivers payment technology and integration that is built around its customers’ bespoke requirements.
