Fintech Finance x Aevi x Paydock: Revolutionizing omnichannel payment orchestration

At Money2020 in Las Vegas, Alex Benjamin, Aevi's Head of Business Development and Rob Lincolne, Paydock's CEO, highlighted the value of omnichannel payment orchestration.

The partnership that was announced in October 24 unites Paydock’s expertise and agnostic infrastructure in digital payments with Aevi’s advanced in-store payment solutions. This empowers ISVs, enterprises, payment services providers and acquirers to seamlessly orchestrate payments across both online and physical channels. Businesses will be able to centralize online and in-store payments through a single reporting interface, bridging the gap between digital and physical payments with an ability to process through multiple acquirers.

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Alex: At Aevi, as a company, we provide in-person payment solutions, and the partnership with Paydock allows us to bridge the online world of orchestration with the in-person world—in a single, unified solution.

Rob: Yeah, we're known for e-commerce orchestration—quite famous for it—particularly in the way that we do it to support financial institutions in serving their merchants better. One thing we've heard from the market consistently, almost since day one, has been:
“Hey, this is really great, but we really want to figure out what's happening with over-the-counter transactions.”
So, how do we bring that into the orchestration story? How do we simplify, create agility, future-proof—capitalize on everything that's great about fintech—over the counter, in the way that we already do it online?

And how do we bring that together for a single view of the consumer? That’s going to open up incredible new experiences—loyalty, insights, you name it.

So, moving forward with Aevi was about finding a very like-minded organization with a similar philosophy in the over-the-counter space. And I think it was meant to be. Love at first sight, you might say. It was, “Oh, you get us. We get you.”

And in the middle is creating great experiences for the consumer, while just moving away from the clutter that often exists in fintech—clutter that merchants and banks often find really hard to navigate. You know, so many APIs, etc. So we just clear away the clutter and have mutually managed to do that—online and offline—together.

We're really looking forward to attacking the market together and answering the question that I think both of us have been asked for the last four or five years: How do we create great experiences for consumers, whether they're paying in-store or online—and reconcile those experiences and understand who they are in the middle, while giving them the freedom to pay however they want?

As I said—love at first sight, we think—and we’re very excited to see what happens next as this gets traction in the market.

Alex: Merchants are looking to be flexible with their payment solutions now. There are just too many products out there and too many APIs. I don’t know if you've ever sat across from a merchant and said, “I've got this new thing,” and you know in the back of their mind they're thinking, “Don't say another API.” And then you say, “We have an API,” and it’s like: “Well, which of these 70 APIs am I going to integrate—while also doing my core business and managing my stack?”

There are incredible fintech products out there—whether it’s fraud, DCC, identity, loyalty, authentication—there’s so much that merchants are looking for orchestrators to introduce, so they can leverage them through their orchestration platforms. And the same is true for over-the-counter transactions.

So if we can find a way to bring together over-the-counter orchestration with e-commerce orchestration, and give merchants truly scalable payment solutions—that work no matter the geography or how consumers want to pay—then there’s always going to be a solution that fits.
And that solution should be managed at the least possible cost to the merchant.

Rob: And I think, as financial institutions are looking to modernize their stacks quickly—to compete with the best of the best—what Aevi brings to the table, and what Paydock brings to the table, together, is a paradigm shift. I think it's a game changer for the industry.

I say that confidently because this partnership has been born out of the continual drumbeat—the repeated ask from merchants—saying:
“We want this kind of technology. Who's got it?”

And until now, I don’t think there was any credible alternative in the market for merchants who want to work with their existing providers, but also want to create world-leading experiences across both online and offline.

So, again, love at first sight—and I think the alignment of interests, hypotheses, vision, and mission is going to make this a really exciting few years together.

Alex: At Aevi, we’re purely focused on the physical world of offline payments. Paydock’s focus is in the digital world. So those are two separate businesses—but our end customers need to serve both online and offline channels.

This partnership allows us to give one single solution in a very turnkey, innovative way—so everything is managed through a single platform, whether it's data for online payments or data for offline payments.

sarah.koch@aevi.com