BitRail, a Fintech company whose PayGenius white label platform allows merchants to offer their own turn-key branded digital payments, wallets, and loyalty, this week announced a partnership with Payment Lock, a custom payment solutions provider with access to more than 300,000 merchants.
PayGenius is independent of legacy, expensive credit card systems, so it often saves merchants up to 3% per transaction. Its platform includes technology, licensing, security, compliance and loyalty to drive usage of the payments.
The merchant’s branded payment lives next to more expensive, traditional options in a digital checkout. In addition to saving the merchant money, BitRail said PayGenius-branded digital payments improve branding and capture first-party data for merchants.
These payments also provide seamless tie-ins to the PayGenius loyalty platform, or the merchant’s existing loyalty programs. The PayGenius loyalty platform drives usage of branded payments by offering consumers more than 1.3 million places to save, including hotels, rental cars, airlines, retailers, restaurants and cashback options.
PaymentLock currently offers payment solutions to more than 300,000 merchants. The partnership with PaymentLock can accelerate PayGenius growth beyond the 1.5 million existing users who are currently registered for the platform.
“Working with PaymentLOCK and their 300,000 merchants will help scale our PayGenius platform”, said Jeff Siegel, president and CEO of BitRail. “We’ve proven the platform with 1.2m existing registered users, now it’s time to accelerate our scale. Creating brand-owned digital payments is a challenge for merchants by themselves due to compliance, licenses, security and a host of other issues. PayGenius has done all the heavy lifting so that merchants can focus on their business.”