Vyne Pay with bank now available on Adobe Commerce (Magento)

E-commerce businesses using Adobe Commerce (Magento), can now add Vyne Pay with bank to their online checkout.

5 months ago • 2 min read

Vyne has launched an Adobe Commerce extension to enable e-commerce businesses to benefit from Open Banking powered account-to-account payments. Businesses can reduce costs on transaction fees compared to card, boost cash flow with instant settlement and significantly reduce the risk of fraud. All while offering consumers a quick, seamless, cardless payment experience and instant refunds. Check out Vyne’s listing here. 

What does the Vyne Pay with bank Adobe Commerce checkout look like? 

Vyne’s Adobe Commerce extension includes a number of front end options that allow e-commerce businesses to customise how Vyne Pay with bank is displayed to customers. With options to display additional value messaging within the mini-cart, on the product page, and in basket, through to dark and light modes.

Consumers can make payments in as little as three taps. There’s no need to leave the sofa to grab their card or manually input card details. Once the consumer has chosen to pay with Vyne they’ll simply choose their bank, log in to their mobile banking app (as normal) and confirm the payment. Significantly reducing the time it takes to make a payment, which can result in fewer abandoned baskets and higher conversions.

How does Vyne Pay with bank help e-commerce businesses and their customers?

Reduce payment fraud and chargebacks

Vyne helps businesses significantly reduce the chance of losing stock to fraudulent customers as each payment has bank-level security such as biometric authentication without adding extra friction, making it significantly harder to commit fraud. This gives retailers the confidence that the customer is legitimate, reducing the risk of fraud, chargebacks and the costs associated.

Boost cash flow with instant settlement

Don’t wait days for funds to settle. With Vyne Pay with bank funds land in your account within seconds, providing an accurate, real-time view of cash flow.

Encourage repeat purchases with instant refunds

Enhance your customers experience with your brand, boost customer sentiment and encourage repeat purchases with instant refunds. With Vyne Pay with bank customers no longer need to wait days for funds to land, as refunds are paid straight to the customers account instantly. Removing the risk of customer dissatisfaction and support team enquiries. 

Retain more hard-earned revenue with fairer transaction fees

Traditional payment solutions often come with high costs, such as 1.5% - 3.5% fees on card transactions, which eat into merchants hard-earned revenue. Vyne Pay with bank enables merchants to avoid high-cost card fees as the payment goes straight from the customer's bank account to the merchant's account within seconds, removing those costly intermediaries.

Thinking about adding Open Banking powered payments to your Adobe Commerce (Magento) checkout?

Vyne Pay with bank is already used by e-commerce businesses such as MyProtein, lookfantastic, Zavvi, Marks Electrical and Patrolbase. Find out more about adding Vyne Pay with bank to your Adobe Commerce (Magento) website by booking a demo with our sales team.

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