|
Lynk Adds Pay by Bank to its Branded Payment Platform
Saturday, February 4, 2023
Feature reduces credit card processing fees, provides added security against fraud and chargebacks, while offering merchants immediate access to their revenue
VANCOUVER, BC, Jan. 17, 2023 /PRNewswire/ - Lynk, the branded payment solution providing merchants a secure alternative to costly credit card processing fees while powering customer loyalty programs, today announced it has added Pay by Bank, the No. 1 customer-requested feature, to its platform. Pay by Bank allows businesses to reduce their credit card processing fees, while safeguarding against transaction failure and fraud, and providing businesses immediate access to their revenue.
Lynk's newest feature is currently being offered to existing users and on a waitlist basis to new customers. Lynk emerged from stealth in September 2022 to offer startups, small- to medium-sized marketplace and gig economy companies an alternative to high credit card processing fees through a closed loop platform that allows merchants to own their payment ecosystem. Lynk offers the lowest processing fees in the industry, ranging from 0.5-1%, and provides users immediate access to their sales revenue unlike traditional credit card platforms where it can take up to five days to receive payment.
"Credit cards are one of the most expensive means of payment for businesses, especially in today's high inflation environment in which issuers are raising fees, and fraud and chargebacks continue to increase at alarming rates. In many cases, these costs are passed onto the consumer," said Lynk Founder and CEO Nabi Awada. "Our Pay by Bank feature is designed to help retailers, especially smaller businesses, significantly reduce their processing fees while providing a more secure environment from which to receive payments that can be accessed immediately."
Lynk's Pay by Bank seamlessly integrates with existing eCommerce or app payment flows. A consumer links their bank account by selecting Pay by Bank at the checkout. In addition to lower processing fees, (0.5-1% vs. 1.9-5% for a traditional credit card), merchants can reduce their transaction failure rate to nearly zero (compared to 11.5% for digital wallets and 7.9% for traditional credit cards). Pay by Bank also utilizes a proprietary authorization method that removes the possibility of unauthorized transactions, chargebacks and fraud, including friendly fraud which is now the No. 1 reported fraud source affecting merchants. Lynk also provides multiple opportunities to access revenue without a lock-up period.
Lynk is a branded payment and card issuance solution tailored to business needs, our open APIs will seamlessly integrate with existing eCommerce or app payment flows while handling all the compliance. Pay by Bank has the lowest processing fees on the market, and it's completely free, with no monthly subscription fees.
About LynkEstablishing a payment platform is one of the biggest cost and time expenditures for any company, especially startups. At Lynk, we are out to change that. Built specifically for small-to-medium-sized marketplace and gig economy companies, our branded payment platform can be set up in days, not months, without any development time or upfront costs and reduces credit card processing fees by up 90% all while building customer loyalty. To learn more, calculate your yearly savings, schedule a demo or sign up for the Pay by Bank waitlist, visit: trylynk,com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/lynk-adds-pay-by-bank-to-its-branded-payment-platform-301723053.html
SOURCE Lynk
|
|
|
|
|
|
 |
The New Identity Theft Crisis: AI Scams, Child Victims, and Credit Damage Are All Spiking | Jan 22, 2026
|
|
AllSci Launches Hypothesis Publishing: A Seamless Way to Share, Connect, and Advance Scientific Ideas | Jan 22, 2026
|
|
Canadian Fintech Tuhk Inc., Founded by Ethoca and NuData Security Veterans, Raises US$6 Million Seed Round Led by FINTOP, with Lloyds Banking Group and Capital One Ventures | Jan 22, 2026
|
|
Fintech Startup BON Credit Secures $3.5 Million In Funding | Jan 22, 2026
|
|
Darwin CX Caps a Banner Year with AI Launch, Sold-Out Events, and Industry Book Launch | Jan 22, 2026
|
|
Nudge Security Unveils Industry's Most Comprehensive AI Security Governance Platform | Jan 22, 2026
|
|
PayDo Launches Unified Payment Infrastructure Suite for Digital Businesses | Jan 22, 2026
|
|
TSX Venture Exchange Market Data Now Available Across Over 40 Blockchains via Chainlink | Jan 22, 2026
|
|
IoTeX Publishes MiCA-Compliant Whitepaper for IOTX, Enabling EU-Wide Alignment Under the New Regulatory Framework | Jan 22, 2026
|
|
Paxos Selects Mesh To Enable Trusted Crypto Deposits | Jan 22, 2026
|
|
|
|
