3 November 2021
Magento Extension and Akoova partnership enables merchants to offer advanced payment optionality
Gr4vy has announced the launch of its new, verified Gr4vy Magento extension. Merchants utilizing Adobe Commerce, powered by Magento, can now install the extension with little to no implementation time and gain immediate access to Gr4vy's cloud-native payment orchestration platform (POP). Gr4vy's Magento extension and platform represent a sea change in payment orchestration, allowing merchants to easily add new payment methods and providers and build custom payment workflows that enhance customers' checkout experience - all from within Magento.
Gr4vy's extension comes at a time when Magento handles over $155 billion in transactions every year and helps businesses create dynamic shopping experiences. The Magento platform offers basic default payment methods and acceptance of payments through several third-party services. Merchants who want to offer new payment types and methods, such as Buy Now Pay Later and Open Banking, must build separate integrations for each new payment type - adding time and cost. Gr4vy's state-of-the-art Magento extension solves this pain point by allowing merchants to offer multiple payment options and providers through a single Gr4vy Magento extension.
"We wanted to create an extension of our cloud-native POP for Magento to help merchants make their payment stacks more nimble and versatile," said John Lunn, CEO and Founder of Gr4vy. "Our cutting-edge POP is designed to help merchants easily deploy new payment methods and optimize payments acceptance while reducing security burdens, all without the need for coding. With more than 250,000 merchants worldwide using Magento, the platform was the perfect place to launch an extension of Gr4vy's platform. Even better, merchants never need to leave their Magento Commerce admin panel to use it."
As with any other Magento extension, merchants wishing to install Gr4vy's extension can do so in just a few steps. Once installed, merchants receive dedicated cloud Instances and can deploy Edges in geographies close to their customers. Moreover, they can also take advantage of Gr4vy's no-code dashboard to easily control what payment options are shown to each unique user and determine how each transaction routes to different payment services based on a predefined set of rules and criteria. Merchants can also access the platform's key features and benefits, including:
- An easy modern checkout that will automatically update their checkout page and reflect specific payment methods based on custom workflows without rewriting code.
- A universal, PCI1 Certified Gr4vy Vault that allows merchants to move fluidly across current and future payment service providers, storing and securing customer payment details.
- Customizable workflows that optimize transaction routing based on country, currency, time of day and reroute transactions due to downtime. Retailers can also design workflows to offer specific payment methods based on day of the week, time of day, or location.
- No-code admin controls that provide merchants with tools to manage all payment methods, providers, workflows and conditions.
- Centralized transaction reports that manage and consolidate transaction reports across all a merchant's service providers.
In addition, Gr4vy has partnered with Akoova, Europe's leading Magento hosting provider, to be the first to bring Gr4vy's Magento extension to market. Gr4vy chose Akoova – known for its exceptional client experience - due to its deep knowledge and expertise of Magento, along with its proven track record at evolving their K-Hosting platform to ensure client scalability and stability. Just like Gr4vy's payment orchestration infrastructure, Akoova's K-Hosting has been developed with the needs of the most demanding merchants in mind.
As Akoova's clients expand their international presence, selling either cross border or with localized sites, their payment infrastructure needs to be changed. These merchants need to add additional payment gateways, or more importantly, the payment methods their consumers demand in multiple countries. The addition of Gr4vy's cloud-native POP allows merchants - like those of Akoova's clients - to quickly add, remove and manage new payment options and gateways in a simple no-code interface. This accelerates international rollout exponentially, saving money and time. Given the wealth of knowledge in payments and Magento hosting by Gr4vy and Akoova respectively, the partnership sets both companies up for substantial market success. Both Gr4vy and Akoova share a like-minded passion for driving robust growth within the retail sector through game-changing innovation of mission-critical infrastructure.