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Manchester fintech beats Brexit red tape with Danish partnership

Manchester-based fintech Ryft has announced a new partnership with Danish firm Clearhaus, allowing both companies to leverage technology solutions and cater to digital platforms and marketplaces both in the UK and Europe.

By partnering with Ryft, Clearhaus has a new way to serve the rapidly growing European digital business community, with over 23,000 underserved digital platforms and 3,000 marketplaces across Europe looking for a compliant way to monetise transactions without the current barriers to entry.

Traditionally, building technology to facilitate this monetisation for merchants requires high overheads, expert teams, and complex licensing. Through the new alliance, the businesses will “be able to process PSD2 compliant transactions whilst capitalising on the transactions moving through their platforms and developing new revenue streams to help them scale.”

As part of the deal, Ryft will leverage its gold standard FCA licence to allow Clearhaus to scale into the UK market without having to obtain its own licence following post-Brexit restrictions. With a vast knowledge of the UK market through partnerships with brands such as easyFood (part of the easyJet group), Ryft has built an optimal solution for UK businesses, from which Clearhaus can benefit. As a technology-forward bank, Clearhaus opted to work with Ryft due to its customer-centric proposition and the synergistic nature of the partnership.

Sadra Hosseini, CEO and co-founder at Ryft, said: “We’ve been working closely with the Clearhaus team over the last year to bring an exciting payments proposition to the market together, which we’re delighted to have finally launched. The Clearhaus vision aligns closely with the Ryft ethos: moving fast, building for customer needs, and focusing on providing the best technology in the market. We are excited for this partnership to grow and for Ryft to scale across Europe with the help of Clearhaus.”

For Ryft, the partnership with is a significant move in its European scaling plans, aiding its ability to compete with other alternative payment solutions Adyen and Stripe Connect. By creating a technical layer for banking partners to leverage, Ryft also enables banks to contribute to merchant growth in a quickly evolving market. As the first banking partner to collaborate with Ryft, Clearhaus is setting the standard for banks to show the importance of serving the digital business community.

Djoek Derksen, senior international partner manager at Clearhaus added: “We’re thrilled about the expansion of our partner portfolio through the new collaboration with Ryft, a specialist in platform payments. This partnership is set to improve our offerings, bringing forth a modern, competitive platform payment solution. Combined with our extensive currency support this solution is well tailored for merchants across Europe. Together with Ryft, we aim to bring our rapid onboarding times to provide a seamless payment experience.”

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