Provides a unified API that enables businesses to process real-time bank payments directly from customer accounts using Open Banking. By integrating multiple bank connectivity providers and employing a smart routing engine, it reduces transaction failures, eliminates chargebacks, and increases conversion rates while offering a secure, white-label payment solution.
Funding
$27.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
VVFounders
Product
Problem
Many businesses face challenges in processing real-time bank payments due to fragmented connectivity, high transaction failure rates, and security concerns associated with traditional payment methods. Integrating with multiple bank connectivity providers is complex and costly, leading to inefficiencies and reduced conversion rates.
Solution
Ivy provides a unified API that enables businesses to process real-time bank payments directly from customer accounts using Open Banking. By integrating multiple bank connectivity providers and employing a smart routing engine, Ivy reduces transaction failures and increases conversion rates. The platform offers a secure, white-label payment solution that allows merchants to offer instant payments, recurring payments, and payouts. Ivy's smart routing engine selects the best bank connection in real-time for every transaction, optimizing payment success. The platform also offers features like "Remember Me" for returning customers and rewards programs to boost customer loyalty and drive repeat purchases.
Target Audience
Ivy targets e-commerce businesses, financial service providers, and crypto platforms seeking to streamline transactions, reduce costs, and enhance security through Open Banking payments.
Features
- Unified API for accessing multiple Open Banking providers across 29 countries and 5,000+ banks.
- Smart Routing Engine that dynamically selects the optimal bank connection for each transaction.
- White-label integration to maintain brand consistency during the checkout process.
- Support for instant payments, recurring payments, and instant payouts.
- "Remember Me" feature for recognizing returning customers across devices and merchants.
- Rewards program integration to incentivize customers and increase conversion rates.
- Integration options via API and plug-in partners like Payever.