This partnership enables Cybersource merchants across the UK and Europe to integrate to Vyne’s Pay with bank payment solution, meaning faster, fairer, and safer payment flows between merchants and consumers’ bank accounts.
With a focus on preventing fraud and ensuring payment security, Cybersource processes £360 billion worth of transactions. Vyne adds to Cybersource’s current proposition with seamless integrations for merchants, giving them lower processing fees, faster settlements, and improved customer experience.
Karl MacGregor, CEO at Vyne, said: “Cybersource is rightly considered one of the founding fathers of online payment and fraud management services and we are genuinely thrilled to offer Open Banking powered Pay with bank to their clients. We believe the benefits of Pay with bank represents a real step change for merchants - including empowering business growth by reducing costs, increasing payment acceptance and accelerating cash-flow.”
Vyne’s consumer research report into digital payments ranked security as the most important thing to consider when choosing a new payment method, followed by convenience and speed. Our full-stack payment solution eliminates the need for manual input of card details, removes the PCI DSS (Payment Card Industry Data Security) burden on merchants, whilst increasing security and speeding up the checkout experience, which in turn reduces cart abandonment.
The Open Banking revolution is growing
In June 2022, Open Banking Ltd announced that the industry had reached 6 million consumers gaining 1 million in just four short months. To reach this milestone the Open Banking ecosystem made a record 1 billion API calls in the month of May. Open Banking is growing exponentially, and it won’t be slowing down any time soon.
Reasons to get excited about Vyne x CyberSource
Merchants can integrate to Vyne through Cybersource and benefit from quick, easy integrations and streamlined reconciliation.
Vyne's instant Pay with bank payments drive higher conversions, reduce costs and increase revenue.
Seamless UX replaces clunky customer payment experiences without sacrificing security.
If you’d like to add Vyne to your Cybersource platform integration, reach out to your Cybersource account manager.