Denmark-based payment service provider and acquirer, Clearhaus, has joined forces with Ryft, the Manchester-based fintech, in a move that will enable it to leverage Ryft’s technology solutions and cater to digital platforms and marketplaces.
Following the partnership, Clearhaus will also leverage Ryft’s gold standard FCA licence to scale into the UK market; without needing to acquire a licence of its own to comply with post-Brexit restrictions.
Sadra Hosseini, CEO and co-founder at Ryft, discussed the move: “The Clearhaus vision aligns closely with the Ryft ethos: moving fast, building for customer needs, and focusing on providing the best technology in the market. We are excited for this partnership to grow and for Ryft to scale across Europe with the help of Clearhaus.”
With a vast knowledge of the UK market through partnerships with brands such as easyFood (part of the easyJet group), Ryft has built an optimal solution for UK businesses, from which Clearhaus can benefit. As a technology-forward bank, Clearhaus explained it opted to work with Ryft due to its customer-centric proposition and the synergistic nature of the partnership.
By partnering with Ryft, Clearhaus has a new way to serve the rapidly growing European digital business community, with over 23,000 underserved digital platforms and 3,000 marketplaces across Europe looking for a compliant way to monetise transactions without the current barriers to entry.
Eyeing European expansion
Traditionally, building technology to facilitate this monetisation for merchants requires high overheads, expert teams, and complex licensing. Through this alliance with Ryft, these businesses will be able to process PSD2-compliant transactions whilst capitalising on the transactions moving through their platforms and developing new revenue streams to help them scale.
For Ryft, this partnership with Clearhaus signals a significant move in its European scaling plans, aiding its ability to compete with other alternative payment solutions Adyen and Stripe Connect.
Djoek Derksen, senior international partner manager at Clearhaus, also commented: “This partnership is set to improve our offerings, bringing forth a modern, competitive platform payment solution. Combined with our extensive currency support this solution is well-tailored for merchants across Europe. Together with Ryft, we aim to bring our rapid onboarding times to provide a seamless payment experience.”
By creating a technical layer for banking partners to leverage, Ryft also enables banks to contribute to merchant growth in a quickly evolving market. As the first banking partner to collaborate with Ryft, Clearhaus is setting the standard for banks to show the importance of serving the digital business community.
