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News and resources on payments systems, innovations and initiatives worldwide.

Worldline and Volt form Open Banking partnership

Source: Worldline

Volt, the London-based leading open payments gateway, today announces a new partnership with Worldline -- the European leader in the payments and transactional services -- that will give over 600 enterprise-level merchants globally access to Volt’s open payments infrastructure, driving significant levels of transaction volumes.

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. This news is the latest milestone for Volt in the last few months, following is record-breaking Series A funding and several partnership announcements.

Combining Worldline’s pedigree as a leading European payments platform with Volt’s expertise, agility, and scalability, means Worldline can gain a first-to-market competitive advantage with a unique open banking offering. The partnership brings the latest payments innovations and features to the fingertips of Worldline customers, allowing businesses to launch their own branded payment method with real-time settlement and substantially lower fees, leading to an improved user experience and conversion rates.

Roger Niederer, Chief Market Officer, Merchant Services at Worldline, said: “Our partnership comes at an exciting time for payments, as PSD2 spurs on open banking innovation. 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. As such, we are incredibly excited today to bring this product to market; it’s unprecedented and truly unlocking value for our prospects and customers. Together with Volt, we are at the forefront of the digital revolution shaping new ways of paying and doing business online.”

Tom Greenwood, CEO at Volt, added: “This collaboration will power a bold new open banking offering. 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. Working with Worldline, we will support hundreds of businesses in their adoption of this new-generation, real-time payments service. We are delighted to be working with a leading brand and global platform to achieve this.”

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