Primer has partnered with Volt to allow its customers to accept instant account-to-account (A2A) payments via Primer’s payment automation platform.
This partnership enables global merchants to benefit from significantly reduced fees and faster settlement with instant bank payment options, along with the ability to integrate Volt’s real-time payments network in the United Kingdom, the European Union (EU) and Brazil, the companies said in a Thursday (July 20) press release.
“As the world of payments evolves, it’s essential for merchants to be able to offer a plethora of different payment options, leveraging open banking technology to give consumers as much choice as possible when it comes to making payments,” Primer CEO Gabriel Le Roux said in the release. “Our partnership with Volt makes this possible.”
The new partnership uses open banking technology to improve online checkout and in-store payments, proving better experiences for both customers and merchants, according to the press release.
Merchants using the Primer platform can now add an instant payment option with just a few clicks, the release said.
“Partnerships such as this enable merchants to benefit from account-to-account technology at scale, and we look forward to helping many more capitalize not just on their benefits, but the expansion opportunities that our geo coverage facilitates,” Volt Vice President Partnerships Richard Drury said in the release. “Primer and Volt share a commitment to payment optimization and innovation, and I look forward to seeing what we can achieve together.”
Primer’s payments automation platform for merchants is fully agnostic to the individual payment service providers and payment systems that process transactions, Paul Anthony, co-founder and head of product and engineering at Primer, told PYMNTS in an interview posted in October 2022.
From a merchant’s perspective, each Primer integration works in the same way, Anthony said at the time. What’s more, Primer is able to integrate new payment service providers in days rather than months.
The announcement of this new integration comes about a month after Volt raised $60 million in a Series B round to expand into Asia-Pacific (APAC) and the Americas. The firm will also use the new capital to support product development in its existing markets in Europe, the United Kingdom and Brazil.