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Zyntrix Launches live open banking service with iPayOn
Fintech platform Zyntrix has announced the successful
completion of phase one of its first commercial rollout, with its technology
now live across 75 locations through parcel services provider iPayOn.
The deployment marks a significant milestone for Zyntrix
Ltd, with its open banking payment infrastructure now processing real
customer transactions within a global parcel delivery network.
The launch introduces iPayOn+, a new open banking
payment brand developed jointly by the two companies. The solution enables
customers to pay securely in-store while delivering measurable operational
benefits for merchants.
Early results from the rollout include lower transaction
fees, instant settlement improving merchant cash flow, and the elimination of
chargebacks to date.
The partnership is expected to expand significantly, with a
clear roadmap towards deployment across more than 2,000 locations.
The next phase of the initiative will introduce a
sustainability component through integration with SkootEco. For every
parcel paid for using iPayOn+, a tree will be planted to offset the carbon
footprint of delivery — creating a seamless environmental contribution at the
moment of payment.
The companies say the initiative demonstrates how open
banking payments can support both commercial efficiency and sustainability
goals within everyday retail transactions.
Zyntrix will be demonstrating its platform at the Retail
Technology Show in London