- Volume, a fintech company based in London, is offering a universal checkout experience for online shoppers and merchants.
- Its payment solution incorporates open banking and allows direct account-to-account payments, removing intermediaries and reducing fees.
- Volume simplifies online transactions by enabling payments from any device using bank account details, with biometric authentication for added security.
With the e-commerce industry growing exponentially, the need for transparent, efficient, and secure payment systems has never been greater. London-based fintech startup Volume is addressing this need with an innovative payment-as-a-service (PaaS) solution. The company has developed a universal checkout experience that aims to revolutionise the e-commerce payment process. By harnessing the power of open banking, Volume is working towards a fairer transaction system for both online businesses and their customers.
Established by Krzysztof Tarnawski and Simone Martinelli, Volume reimagines online payment processes by connecting online shopper and merchant bank accounts for direct transactions. The primary benefit of this model is the elimination of intermediaries from the payment process, resulting in lowered transaction fees and thus, fairer commercial exchanges.
What Sets Volume Apart?
Volume differentiates itself through its unique application of open banking principles to e-commerce transactions. Traditionally, online transactions have been dominated by credit and debit card payments, which often involve intermediary banks and payment gateways. Volume’s technology bypasses these extra steps, building a direct bridge between buyer and seller. This has the advantage of minimising transaction fees and speeding up the overall payment process, all while safeguarding security through biometric checks.
In a world that is increasingly more digital, and where online shopping is more prevalent than ever, Volume’s solution offers customers the ability to pay online from any device using their bank accounts. There’s no need for a card, user ID, or password, thus, simplifying the overall user experience. Instant payment settlement, following a biometric check, further enhances the speed and convenience of the transaction.
As Volume continues to grow and innovate, its potential impact in the e-commerce and payments industry is significant. The company’s transparent checkout model could very well become a new standard, offering benefits to both consumers and merchants. As the e-commerce space continues to evolve and online shopping becomes more prevalent, Volume’s approach to simplified, secure, and fair transactions could set a precedent for other companies in the industry.
For more information about Volume, visit their website (https://www.getvolume.co.uk) or connect with them on LinkedIn (https://www.linkedin.com/company/volumepay). With its innovative approach to e-commerce payments, Volume is certainly a startup to watch in the fintech space.
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