The Hut Group deal sees FinTech Vyne enter retail space
Vyne is partnering with e-commerce venture The Hut Group (THG).
Based on Open Banking technology, the integration will allow consumers to make online payments directly to THG brands and retail sites via the likes of mobile, desktop, in app, SMS and email.
In turn, brands offering Vyne can bypass card networks and their associated fees.
John Gallemore, CEO at THG Ingenuity, the tech platform that powers all of THG’s brands, says: “Our aim is to consistently improve and innovate across the platform to provide shoppers with the widest possible payment choice and ultimately enhance customer experience.”
“The addition of Vyne to our range of payment partners is another step forward in this evolution.”
Karl MacGregor, CEO at Vyne, comments: “THG’s meteoric rise over the last 17 years has seen it firmly established as one of the world’s most influential online retail organisations.”
“As such, we are delighted the business has chosen Vyne to introduce account to account payments to its impressive portfolio of brands. This partnership marks our expansion into the retail sector, with alternative methods continuing to grow in prominence.”
