Collctiv, the group payments fintech, has partnered with Ryft, the marketplace payment platform, to provide a more customised checkout experience for those making group payments.
As a result of the new agreement, Collctiv can offer reduced fees and increased payment flexibility using Ryft expertise. The money collection process for organisers of group gifts and activities is also simplified due to the creation of money pots – another feature enabled by Ryft.
Customisable payment links will enhance user engagement by making the payment process more personalised for Collectiv users. Moreover, the collaboration looks set to greatly streamline the company’s merchant onboarding processes, bringing about greater transparency and efficiency in operations.
Pete Casson, CTO and co-founder of Collctiv, commented: “We are thrilled to collaborate with Ryft as their technology enhances our ability to offer improved payment options through the Collctiv app. This partnership not only streamlines the money collection process, but also lays the foundation for potential future expansions.
“Our shared commitment to exceptional customer support aligns seamlessly, making collaboration with a fellow northern British company like Ryft a testament to the robustness of the North and its pivotal role in shaping the future of British commerce.”
Speaking on the partnership, Sadra Hosseini, CEO of Ryft commented: “This is an exciting moment for Manchester’s fintech scene with two of its most innovative companies joining forces for a highly relevant strategic partnership. We’ve been big fans of what Collctiv have done over the years and believe the integration of our complementary services can help the company take its offering to a new level.”
Manchester blooming
London has established itself as the UK’s leading hub for fintech innovation, but other cities in the country are quickly catching up. The North of England has especially bloomed in recent years with Leeds and Manchester emerging as innovative hubs. The new partnership is another example of the burgeoning Manchester fintech landscape. Furthermore, it will help extend the reach of both companies within Europe and beyond, enabling them to enter new markets.
The new partnership officially went live on 1 November 2023. Since launch, the joint venture has demonstrated a seven per cent increase in Apple Pay transactions. This is a testament to the enhanced freedom and flexibility that users have during the payment process. Moving forward, Collctiv and Ryft plan to continue collaborating with one another as they both seek to accelerate their growth ambitions, both domestically and internationally.
Francis Bignell
