Payments infrastructure platform Pay.com’s merchants will have access to Volt’s ‘Instant Bank Transfer’ solution as a result of a new partnership.
Pay.com has selected global real-time payments platform Volt as its new strategic Open Banking partner.
Through the partnership, Pay.com’s merchants in the wealthtech, retail and igaming industries will provide their end users with the ability to make payments from their bank account in real time.
Pay.com has built functionality which is designed to encourage consumer adoption and establish trust, as opposed to simply integrating Volt’s Open Banking solution.
The new functionality is able to securely identify end users by pre-authorising credentials and, therefore, display banking options linked to their financial profiles, so that they can select their preferred bank and initiate their payment more easily.
In addition, Pay.com merchants can access Volt using its ‘Software Development Kit’, allowing consumers to complete bank payments directly on the merchant’s app or website. In doing so, it reduces the need for redirects and increases the likelihood of conversion, according to Volt.
Kim De Jesus, Pay.com’s global head of partnerships, said: “The agility and efficiency demonstrated by both organisations allowed us to go from signing to launch in under a year, a testament to our shared commitment to delivering exceptional solutions.
“This partnership reinforces Pay.com’s position in the Open Banking payments ecosystem, enabling us to capitalise on growth opportunities alongside Volt.”
De Jesus added: “Together, we’ve emphasised the importance of speed, trust and technology accessibility and their direct impact on merchants and the overall payments ecosystem.
“Ensuring relevance throughout the payment process is crucial, as it remains a key driver in reducing transaction abandonment and fostering trust.”
Elaine Smith, head of partnerships at Volt, also pointed to the “speed and ease” of going live earlier this year, which she said “underscores the synergy between our teams and our shared vision for providing safer, more relevant payment experiences”.
Smith added: “What makes this collaboration truly special is the alignment of our core values – accessibility, global reach, and innovation. We’re excited to deepen our strategic partnership with Pay.com as we explore early-stage solutions that redefine the payments landscape.”
In November last year, Kinguin, a global marketplace for video games, partnered with Volt to integrate Pay by Bank, thereby enabling its users to purchase games directly from their bank account.
London-based Volt has offices in Berlin, Warsaw, Kraków, Sydney and São Paulo and enables payments in 31 markets across the UK, EU, Brazil and Australia.
