Founded in 2021, Petculiar launched to educate a community of pet owners on nutrition, supplements and how to take better care of their furry family members. Petculiar started using Vyne 7 months ago through their Wix website, to offer their customers a seamless, cardless checkout while benefiting from reduced costs and speedy settlement. Learn more about Petculiar on their website.
Saving costs and improving cash flow were a priority
Petculiar were looking for a payment solution that plugged into their Wix website and enabled them to save costs on transaction fees and improve cash flow with quicker settlement times.
The rising cost of business, combined with an unpredictable economy makes cost-saving essential for small independents, preparing for unexpected events that could cost their business money or lead to a reduction in revenue.
“SMEs often get charged high-cost transaction fees, so we were looking for a solution that allowed us to save on those costs.” - Hallé, Founder of Petculiar
Since utilising Vyne’s Open Banking powered account-to-account solution, Petculiar enable payments to be made directly from their customer’s bank account to the business’ account within seconds, bypassing the need for high-cost intermediaries which has resulted in huge savings.
“Vyne’s fees were much more reasonable than what we were paying, which has resulted in a significant cost saving.”
With Vyne Pay with bank, Petculiar save 43% on transaction fees
“With Vyne, we’re paying 0.9% + 10p per transaction which is a saving of 43% compared to our other payment method. This enables us to retain costs and to continue investing in bringing more peculiar products to the market.”
Slow settlement cycles can have a devastating impact on an SMEs working capital, often resulting in the inability to restock quickly, upgrade equipment and grow the business. These were the effects being felt by Petculiar when using alternative payment methods, before exploring Open Banking providers.
“Other payment methods were heavily affecting our cash flow as funds were taking days or even weeks to land in our account.”
Since using Vyne Pay with bank, Petculiar benefit from instant settlement which has boosted their cash flow.
“Vyne’s instant payouts are a huge win for us. Consumers are surprised at how quick and easy the payment process is”
Using Pay with bank, consumers can make payments in as little as three taps, and there’s no need to leave the sofa to grab their card or manually input card details. This significantly reduces the time it takes to make a payment, which often results in fewer abandoned baskets and higher conversions.
Petculiar are encouraging customers to use Vyne Pay with bank as opposed to other payment methods as the cost saving enables them to maintain their competitive pricing. In October through to November 2023, the Petculiar Advent Calendars can be exclusively purchased using Vyne Pay with bank. You can pre-order a calendar here.
“Initially it's daunting using a new payment method, but once our customers see how seamless and secure the process is, they’re wondering why they hadn’t used it before.”
Interested in adding Vyne Pay with bank to your Wix website checkout?
Cut transaction costs and boost checkout conversion with instant settlement and seamless payment journeys. Click the button below to book a demo with our sales team today.