Pay by Bank in Australia with Waave and Gr4vy

Waave, a technology company focused on open banking payments, has come together with Gr4vy, a global payments orchestrator, to introduce their Pay by Bank solution to relevant Australian retailers. Waave created a payment system that utilises open banking technology with the aim of reducing payment costs for Australian retail organisations. Their Pay by Bank service, which has been given the go ahead from all of Australia's banks, provides heightened security in accordance with Waave's Consumer Data Right authorisation. No third-party or card details are necessary when utilizing the open banking-powered payment method which provides customers with a secure and fee-free alternative to conventional credit cards. John Lunn, CEO and founder of Gr4vy, discussed the alliance: “We are introducing a revolutionary Pay-by-bank solution that is in line with our dedication to streamlining payments procedures and cutting down on the integration and continual upkeep workloads for traders. It is a crucial step in our adoption of open banking.” Retailers have a special chance to utilize this partnership to reduce transaction expenses, bolster payment protection, and also upgrade the payment experience for customers. This month, Barbeques Galore will roll out Waave's Pay by Bank solution, becoming the first major Australian retailer to use Gr4vy. With consumer demand for Buy Now Pay Later and other payment forms, as well as traditional transaction solutions, payments have become a major focus for Barbeques Galore. The company is devoted to making processes more efficient in all areas of the business. During the last ASX reporting season, the majority of retailers discussed controlling costs in lieu of concentrating on boosting top-line sales. Despite this, Barbeques Galore is managing to uphold a rise in its top-line revenue. More than that, Waave and Barbeques Galore are jointly exploring options of leveraging Waave's technologies across the latter's Barbeque Legends Club loyalty plan. Ben Zyl, CEO and co-founder of Waave, went on to state that the firm has a plan to fundamentally transform the payment experience by introducing Pay by Bank.” Merchants have been victim to extortionate fees for too long. Thanks to the modern technology, digital payments can now be made without any hassles, swiftly, and securely without excessive costs. We are thrilled to be teaming up with Gr4vy and prominent retailers like Baby Bunting and Barbeques Galore in order to reduce their payment costs while delivering their clients fast, effortless access to their capital with complete safety and visibility - no more undisclosed fees or sharing of credit card information. Mitchell Koureas, CFO of Barbeques Galore, expressed his excitement over the collaboration, emphasizing its significance: “We are delighted to be teaming up with Gr4vy and Waave so that our patrons can access a no extra cost option and be pioneers in the implementation of Open Banking.” a better customer experience” By taking this approach, we can lower our merchant charges while delivering an improved customer experience.

Source: https://medium.com/@markelitics2022/waave-and-gr4vys-pay-by-bank-in-australia-ac50d4550d7d?source=rss------fintech-5