Volt Rewrites Its Vision For A Global Payment Revolution
In a bold move to redefine the future of payments, Volt, Europeâs leading open banking platform, has just expanded its reach into new markets and strengthened its competitive position in the fintech landscape. The company, founded by former PayPal executives, has raised $75 million at a $1 billion valuation and serves over 2 million merchants globally. Its mission is to revolutionize payment methods worldwide through instant, secure, and cost-effective A2A (account-to-account) payments.
Company Overview
- Founded in 2016, Volt has emerged as a pioneer in open banking technology.
- With its headquarters in the UK, the company specializes in providing merchants and consumers with seamless payment solutions that integrate seamlessly with existing systems.
- Key Strengths: A vast network of over 35,000 banks across Europe, the Americas, Asia-Pacific, and Africa; a $7.8 billion open banking platform; and a mission to empower millions globally.
Services Offered
Voltâs services are designed to enhance payment efficiency for both merchants and consumers:
- Online Payments: Simplify checkout processes with secure, instant transactions.
- Link-to-Pay: Enable customers to make payments directly from their bank accounts linked via mobile or desktop.
- Recurring Payments: Automate subscriptions and payments for businesses.
- Fraud Prevention: Intuitive tools to detect and block unauthorized transactions.
- Bank Account Migrations: Assistance in migrating card-based payment flows to open banking platforms.
Markets Expanding Into
Volt is actively expanding its presence into emerging markets, leveraging the opportunities of open banking:
- Emerging Markets: Targeting regions with lower card penetration as banks seek to provide infrastructure for cashless payments.
- Massive Markets: Leveraging the familiarity and convenience of existing payment habits in high-card countries to explore alternative methods.
Competitors to Watch
- TrueLayer, a UK-based competitor raised at an over $1 billion valuation, is intensifying its rivalry.
- Both companies are focusing on expanding their global reach while maintaining their core commitment to innovation and customer experience.
Closing Thoughts
Voltâs vision of creating an electrifying global network for A2A payments is both ambitious and forward-thinking. With a strong foundation in Europe and a growing presence globally, the company is well-positioned to redefine the future of payments on a massive scale. As more than 70 countries transition to RTP (Real-Time Payment) systems, merchants are reaping the benefits of instant, secure, and cost-effective A2A transactions.
For further insights, read Eric Liawâs and Angela Zhuâs quotes from IVP, reflecting on Voltâs potential to reshape the open banking industry.
