Ryft - the unified payment platform
by Startacus Admin
The lowdown on Ryft, the London-based fintech and its innovative next day payout system for marketplace businesses and their merchants.
Payment systems can be a bit of a headache. Anyone who has started a business that requires something more than simply sticking your bank details onto an invoice will have experienced the <sarcasm> joy </sarcasm> of looking through the almost identical and yet frustratingly different options to find one that suits you the best, doesn’t charge too-high fees, and pays out your money in a timely fashion, all while integrating into your systems easily and giving your customers the widest range of payment options possible.
London-based fintech startup Ryft is taking aim at existing payment integration platforms with its PSD2 compliant payments system. Their platform accepts payment from every major card, as well as Apple and Google Pay, and comes with built-in fraud detection and strong customer authentication.
Their biggest selling point compared to the likes of Stripe is that they don’t have high fees, and they pay out to the merchant the very next working day, rather than having them wait.
Each transaction comes with a flat rate fee of 1.2%, and the amount of commission for individual merchants can be easily customised, meaning if your company is running a marketplace with a range of different offerings, some of them costing your platform more than others, it’s no trouble to account for that in the payment system. And for such platforms, Ryft will verify and onboard those merchants themselves, and say that you can easily ‘leverage our payment stack to implement a white label solution payment platform into your digital platforms such as ERPs, CRMS and accounting tools’.
In September, Ryft announced that they had raised £1.2 million in a seed funding round led by SFC Capital, with participation from the founders of Shutterstock and LoveFilm. With such big rivals in the space of payment integration platforms, this funding will help Ryft get a strong foothold and really leverage their USP.
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
The lowdown on FuturePlus, the startup that's on a mission to make sustainability accessible, achievable and affordable for all businesses.
.jpg)
John McLachlan, author and co-founder of Monkey Puzzle Training & Consultancy examines the differences between action-oriented and reflective leaders and which approach is best.
The fitness app that's not just about physical fitness; GoJoe helps employers to engage, motivate and connect their people across all pillars of wellbeing.
Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
London-based startup Deep Render tackles the internet’s data and bandwidth challenges via its innovative AI-powered file compression technology.
The lowdown on Dublin-based startup and NUI Maynooth spin-out Neuromod Devices and its innovative evidence-based bimodal neuromodulation treatment for chronic tinnitus.
.jpg)
With the clear shift towards generative AI, Richard Hayes, search director at digital marketing agency Catalyst explores what it means for SEO...
Published on: 13th September 2022
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Startup Sook Receives Investment from Tobin Capital 24th May 2023 Tobin Capital continues to expand its portfolio by investing in pop-up marketplace Sook, the startup on a mission to revolutionise the high street.
- L Marks Seeking Startups and Scaleups for Sodexo Healthcare and Seniors Accelerator 23rd May 2023 Sodexo and L Marks open call for applications from innovative startups and scaleups to join their inaugural Sodexo Healthcare and Seniors Accelerator.
- United Utilities Innovation Lab launches call-out for innovative ideas for fifth programme 18th May 2023 Now in its fifth year, North West England water firm United Utilities opens call for Innovation Lab, its pioneering ideas incubation programme.
- OneTech Spins Out from Capital Enterprise to Support Underserved Communities in Tech Across the UK 18th May 2023 Not-for-profit OneTech has spunout from Capital Enterprise to expand its offering and continue its mission of creating a more equitable, diverse and supported startup ecosystem.
