Vyne Open Banking payments go live on 10 THG brands
Vyne’s Open Banking powered account-to-account payment method has gone live on the online checkouts of 10 THG (aka The Hut Group) brands, including Myprotein, Glossybox, ESPA and Zavvi.
It’s the first step in a partnership that will see Vyne’s solution offered as a payment method for 25 THG brands in total.
Consumers will be able to pay from their banking app, eliminating the need for card details.
Vyne says that brands tap its tech to bypass card networks and their associated fees, helping to reduce costs and chargebacks, boosting conversions through optimised multi-channel user experiences and accelerating cash flow with instant settlement.
John Gallemore, CEO at THG Ingenuity, the tech platform that powers all THG 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 options is another step forward in this evolution.”
Karl MacGregor, CEO at Vyne, comments: “We are delighted that some of THG’s leading e-commerce brands will be adding Vyne’s account-to-account payments to their checkouts.”
“This announcement marks our expansion into the retail sector, with alternative payment methods continuing to grow in prominence.”
