E-commerce checkout orchestration platform Montonio is teaming up with payments technology company Episode Six.
The partnership will bolster its open banking platform in the Nordics. Leveraging Episode Six’s Tritium platform, Montonio says that its modern, future-ready payments ecosystem breaks the barriers of traditional card processing and acquiring.
Moreover, it will enable Montonio’s merchant customers to reduce the cost of payments and dramatically reduce payment times.
Montonio offers ecommerce merchants a payment solution based on open banking. The firm says that this cuts costs considerably compared to traditional payment methods.
Montonio holds a strong position in open banking in the Nordics having established bilateral agreements with many major local banks.
Episode Six Tritium platform: built from scratch, offering unmatched flexibility
To optimise its potential, Montonio and its customers need to reach and recruit merchants with larger transaction volumes. To do that, they needed a payment technology partner to provide them with a digital ledger that ensures payments can flow instantly between buyer and merchant accounts and support chargebacks when troublesome transactions occur.
Episode Six’s platform, Tritium, is built from scratch and offers unmatched flexibility. Tritium is equipped with over 550 APIs that help develop, customise, and launch tailored payments products and services. Episode Six will enable Montonio to effect chargebacks automatically and efficiently for any problematic transaction. As these payments are irrevocable, there’s no chargeback risk for merchants and banks. Fraud becomes a non-issue as account-to-account payments rely on the banks’ own security. This minimises costs associated with reconciliation and chargebacks.
A more positive and innovative payments experience
“To help us unlock further growth, we needed a payment technology provider that could support our open banking service,” said Kristofer Turmen, co-founder and CTO at Montonio. “We’re constantly looking to provide our merchant customers a more positive and innovative payments experience. By partnering with Episode Six and leveraging its flexible solution, we’re now able to do just that. This partnership also means we can cater to larger merchants with higher transaction volumes.”
“Our partnership employs open banking and the concept of a digital marketplace to create a modern payments ecosystem that breaks the barriers of traditional card processing and acquiring. The project particularly excites us because it aligns with Episode Six’s vision of redefining possible in payments,” said John Mitchell CEO and Co-Founder of Episode Six. “It’s also a key milestone for Episode Six, as we’re marking our expansion into the Nordics, a highly progressive region for payments. We’re looking forward to working with a brand such as Montonio, and excited for this partnership to flourish.”