Primer, the UK-founded fintech firm that helps retailers consolidate their funds stack and assist future cost strategies, has launched with its unified funds API and checkout. Offering an open cost infrastructure to retailers by way of a single integration, Primer manages the front-end checkout course of and backend consolidation of funds providers — supercharging funds with data-driven insights and a clear, versatile expertise for customers.
Unifying cost service suppliers (PSPs), proprietary cost strategies, fraud suppliers, and different third-party providers (together with loyalty and reward schemes), Primer allows retailers to reap the benefits of any cost service — each present and future. This implies Primer can work with any service provider; and, in flip, retailers can join the likes of Stripe, Klarna, Amazon Pay, GoCardless, and WeChat with out writing a single line of code. Primer’s “Workflows” functionality allows retailers to construct refined cost flows and routing, unify their fraud mitigation efforts and achieve higher visibility of transactional data by way of connections to enterprise intelligence (BI) and analytics instruments.
“Merchants don’t want to be constrained by payments any longer,” mentioned Paul Anthony, Primer co-founder and Head of Product and Engineering. “They want to offer customers the experience they expect, wherever they are, and without compromising on UX and optionality at checkout. The payments landscape is evolving at a rapid pace, and merchants need to leverage best-in-class technologies at every step in the checkout process. Primer is designed to put merchants on the leading-edge of payments, and to keep them there.”
Primer was based in January 2020 by Paul Anthony and Gabriel Le Roux, who met at Braintree, a division of PayPal. Constructed to unify retailers’ complete funds stack by way of an industry-first agnostic integration, Primer introduced a £3.eight million seed fundraise in May 2020, led by Balderton and joined by TransferWise co-founder Taavet Hinrikus. Seedcamp, Kima Ventures, and Speedinvest additionally participated within the spherical. Now, Primer is headquartered in London with 18 workers throughout seven international locations, with the corporate pushed by insights gleaned from conducting in-depth technical workshops with virtually 80 retailers globally.
Gabriel Le Roux, co-founder and Head of Enterprise Growth and Technique at Primer, mentioned: “Managing multiple PSPs and proprietary payment methods is no mean feat, yet larger merchants — particularly those operating in more than one geographical region — are often stuck supporting endless payment methods, resulting in poor user experience, lack of transparency, complex pricing and substantial technical overhead. Merchants need all the help they can get when it comes to scaling payments globally, which is where Primer comes in.”