Company: Ryft Pay
Founder & CEO, Co-Founder and Managing Director: Sadra Hosseini, Alex Mackenzie
Website: https://www.ryftpay.com/
About Ryft Pay
Ryft was founded by entrepreneurs Sadra Hosseini and Alex Mackenzie, whose digital platform, Butlr, was acquired by OrderPay in 2021. While building Butlr, the co-founders experienced highly limited options for compliant payment solutions that support marketplace and platform transaction flows. Businesses operating within these models need to be able to capture, split, hold and process payments for various parties, often based on specific conditions. Existing third-party payment facilitators are costly, complex and unsupportive; businesses have the option to build their own compliant infrastructure from scratch, but the incredibly high costs and extensive time requirements present significant barriers.
Ryft is challenging this by helping businesses efficiently process, manage and monetise payments at scale in a secure and compliant way. Over 1,500 businesses have already implemented Ryft to enable rapid growth without regulatory complications, and customers that have switched from Stripe report remarkable cost savings of up to 62% in payment fees.
Now, the entrepreneurs are aiming to transform a $20 trillion acquiring ecosystem. Ryft gives acquiring banks the technology needed to automatically split payments and process payouts at a much lower cost than solutions offered by Stripe Connect or Adyen. It also gives marketplaces and platforms the ability to hold funds until specific conditions are met through a delayed payments feature, facilitated by an escrow license. This enables acquiring banks to remain competitive in the modern commerce landscape by efficiently fulfilling the payment needs of marketplaces and digital platforms.
Rasmus Ny Sejer, Compliance Officer and MLRO at leading acquirer Clearhaus, commented: Ryft is a valued partner with a commitment to compliance, collaboration and outstanding technical support that enables our marketplace merchants to be successful. This has created a strong foundation for our mutual long-term growth.
Jason Druker, Chief Commercial Officer at SFC Capital, said: Ryft is solving a critical challenge in the payments space with a highly scalable solution. We continue to be impressed by the performance and vision of Ryft, and we are excited to keep supporting them as they scale.
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