Company Market Research Report: Ryft

Company Overview

• Name: Ryft (Butlr Ltd trading as Ryft Pay)

• Mission: To empower embedded payments with seamless automated payouts and enable platforms to effortlessly monetize transactions.

• Founded: Ryft emerged as a solution from the needs identified in the operation of getbutlr.com, a mobile ordering marketplace app for pubs and bars, during the COVID pandemic.

• Key People:

• Sam Biggins, Commercial Director

• Headquarters: No information is available

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: Ryft is known for providing a PSD2-compliant payment platform that simplifies the financial operations of marketplaces and B2B platforms by eliminating the administrative burden and high fees associated with direct payment solutions like Stripe Connect.

Products

Ryft Payment Platform

• High-Level Description: Ryft provides an integrated payment solution tailored for marketplaces and digital platforms. The platform automates the payment flow from intake to merchant payouts while maintaining compliance with PSD2 regulations.

• Key Features:

• Monetization: Offers full white-labeling options allowing platforms to create branded payment solutions for additional revenue opportunities.

• Automation: Streamlines transactions, splitting, and payouts to merchants, reducing manual intervention.

• Technology-Focused: The platform features unified APIs for rapid integration and reduced costs.

• Market Coverage: Supports marketplaces including order & pay systems, gig economy applications, eCommerce sites, and EduTech solutions.

• Security: Provides compliance with PCI DSS Level 1 standards, built-in fraud detection, and 3DS checks.

• Payment Acceptance: Supports all major credit cards, Google Pay, Apple Pay, along with customer authentication.

• Fund Allocation: Facilitates instant payout to vendor accounts, customizable commission structures, and seamless partner onboarding.

Recent Developments

• New Features: Introduction of Ryft's solution which processes payments and automatically diverts funds to merchants the next working day, enhancing cash flow and eliminating costly delays for the users.

• Partnerships: No information is available.

• Investments and Expansion: Originally funded with a £1.2m raise, Ryft is effectively expanding its merchant payment systems with innovative solutions.

• Regulatory Compliance: Achieved authorization from the Financial Conduct Authority (FCA) as a regulated payment service, becoming PSD2 compliant.

Summary

Ryft has positioned itself as a crucial service provider for marketplaces and digital platforms by addressing financial inefficiencies through a robust payment infrastructure. In navigating PSD2 regulations, Ryft offers a compliant solution that acts as a competitive alternative to traditional payment processors. The platform elegantly Weaves technology and compliance, ensuring that businesses can focus on growth without internalizing the complexity of financial regulations.

Appendices

• Contact Information: Available upon request

• Regulatory Status: Authorized by the Financial Conduct Authority (FCA) as an Authorised Payment Institution (No. 972895) and PCI DSS Level 1 certified.