Total ecommerce transaction volume crossed the $4T mark in 2021 and is expected to reach $10.7T by 2025. Amidst this explosive growth, consumer expectations are also fundamentally shifting, particularly when it comes to the checkout experience.
The pandemic substantially increased demand for digital payment acceptance, and new methods of payment come in more forms than ever before. There are Buy Now Pay Later (BNPL) providers, credit cards, account-to-account services, crypto, and a wide array of local payment solutions—all of which differ by geography and require engineering teams to integrate. The surge in payment options and expectations have overwhelmed merchants and forced them to re-think their payment stack.
Historically, a merchant would start with one payment processor and add additional methods as needed; but, given how fast the digital payment ecosystem is evolving, they no longer have the resources or desire to continue building in-house. This is where Gr4vy comes in.
Gr4vy is the only payment orchestration platform built natively in the cloud that allows merchants to expand and control their payment stack globally from day one. The platform is payment agnostic, serving as the infrastructure layer between shopping carts and payment providers. This allows merchants to mix and match providers, payment methods and route their transactions without being locked into any single ecosystem.
Key benefits of the platform include flexibility, customized workflows, robust security, a PCI1 Certified Gr4vy vault, a universal API, an easy modern checkout, no-code admin, and centralized transaction reports. Importantly, all of this is delivered via an intuitive interface that requires no engineers!
We are excited to kick off 2022 by announcing March’s partnership with the Gr4vy team via this $15M Series A Extension and very pleased to be joining NYCA and Activant as a major investors. John Lunn and his co-founders (Cristiano Betta and Ali Minaei) have brought together an exceptional group of payment industry pioneers and experts (execs from PayPal, Adyen, Braintree, Cybersource, Google, etc.).
We are continuously impressed by the quality of the team (they are hiring!) and what they have been able to achieve in such a short amount of time. Since launching in April 2021, Gr4vy has inked channel partnerships with JetRails, Magento, Akoova, GoCardless and Banked, in addition to signing up major global merchants.
We look forward to supporting Gr4vy in 2022 and beyond as ecommerce strategy & payment infrastructure become a mission critical for merchants.
Learn about how Gr4vy is reimagining the future of payments here.
Are you a merchant looking to upgrade your legacy payment infrastructure to support customer expectations? Learn more about what Gr4vy can do for your business here.