Vyne
Open banking payments platform
- 21-100 employees
- Fintech
- B2B
- Payments
- Financial Services
- eCommerce
- Holborn, London, UK
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Company mission
To improve the way eCommerce retailers get paid online.
Our take
Open banking has significantly disrupted the fintech sector, particularly transforming the online payment process. The traditional input of bank card details for online transactions is evolving into a streamlined authorisation step, enhancing transaction speed and bolstering safety for merchants and customers alike. Vyne, among a select group of start-ups, is actively working to assist merchants in integrating this innovation into their platforms.
Vyne primarily operates in the UK, a market at the forefront of embracing open banking, with over 5M residents already relying on such services. Despite the advanced status in its home market, expanding globally presents challenges. Other major regions lag in adopting similarly favourable regulatory structures, with indications that the US market, in particular, may take up to a decade to fully embrace open banking solutions.
Navigating the landscape of open banking expansion requires finesse, especially considering the varying regulatory landscapes across different regions. While the UK serves as a testament to the transformative impact of open banking, the road ahead for startups like Vyne involves strategic consideration and patience as it seeks to bring the benefits of streamlined payment processes to a broader international audience.
Steph
Company Specialist at Welcome to the Jungle
Funding (1 round)
Sep 2021
$15.5m
Total funding: $15.5m
This company has top investors
Leadership
Karl MacGregor
(CEO)Has 25 years of experience in Payments and eCommerce, having held various Senior positions at Barclaycard, Ladbrokes, and Worldpay.
Adam Rowland
(CTO)With vast experience in payments technology, they served as the VP of Application Development at Worldpay for 8 years before making a move to Masabi to head up Product & Engineering.