Open payments gateway Volt has launched a partnership with Worldline that will give more than 600 enterprise-level merchants access to Volt’s infrastructure.
“Now, thanks to exclusive partnerships with merchants and bolstered by a seasoned sales force, Worldline can accelerate the adoption of Volt’s unique open payments gateway throughout Europe, while continuing its expansion into Asia and Latin America,” Volt said in a news release Tuesday (Oct. 19).
The combination of Worldline’s European payments platform and Volt’s expertise, scalability and agility gives Worldline a “first-to-market competitive advantage with a unique open banking offering,” according to the release.
Worldline customers will get the latest payments innovations and features, letting them launch their own branded payment methods, the news release said.
Read more: Worldline Launches WL Account-Based Payments for Online Businesses
“Our partnership comes at an exciting time for payments, as PSD2 spurs on open banking innovation,” said Worldline Chief Market Officer, Merchant Services Roger Niederer.
“Industry analysts are expecting massive adoption in the near future, with a predicted global market value of more than $40 billion in the next five years. The Volt team impressed us early on with their ability to respond to changes swiftly during product development.”
Volt CEO Tom Greenwood said, “The commercial benefits are a no-brainer: merchants need more cost-effective payment alternatives to card payments, and much faster settlements. Open banking payments are real-time, and are inherently more secure as the danger of card fraud is eliminated.”
Volt says the partnership is the latest in a series of milestones that include a “record-breaking” Series A funding round.
It comes less than a month after Worldline launched WL Account-Based Payments, an open banking account-to-account (A2A) payment program that lets third parties access consumer banking information and includes custom branding and instant settlement notifications.
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