Vyne’s onboarding including KYB and integration delivers deployed client accounts within 12 hours for Purchase Direct

Purchase Direct is a cost-reduction consultancy whose main customer base is in the automotive sector, but their portfolio also covers agriculture, doctors’ surgeries, and other businesses. For over 27 years, they have provided outsourced procurement services to businesses requiring long-term management and control of their overhead purchasing. 

The challenge  

A major concern for Purchase Direct was to help their clients eliminate high-cost processing charges, especially in the automotive trade. As things become more challenging due to economic uncertainty and hundreds or thousands of pounds taken for every card payment, card fees ultimately eat into profits.  

Consumer behaviour has changed, with more wanting easy transactions, especially when buying online, and being able to make paying as seamless as possible is crucial. Purchase Direct also wanted an Open Banking provider that would echo their company’s ethos and would work with them to implement a scalable cost-effective solution. 

The solution 

Unlike other companies during the pandemic, Purchase Direct saw the need for their services to grow, with clients looking to cut costs at every angle. They also saw consumers demanding more flexibility and a streamlined approach when they pay. 

Purchase Direct knew that their clients needed a cost-effective and innovative solution that could make a difference immediately. Delivering this puts the reins firmly and swiftly into Purchase Direct’s hands so they can onboard their clients and get them ready to reap the benefits Open Banking delivers. Vyne removes traditional intermediaries, which means their clients can take advantage of a reduction in card processing fees with the added benefit that security is also heightened.  

Vyne were also able to help them match the change in consumer behaviour by giving automotive dealers an enhanced payment experience that increases sentiment.

With the added benefit of settlement accounts, a bespoke build in our Merchant portal solution, Purchase Direct clients were also able to benefit from a more streamlined and effortless way to manage their finances. 

The results 

“Our clients are really embracing this new solution. It’s made a huge difference and has been an absolute game changer for our automotive clients. Using Vyne has been so fast and simple. Our clients are going through compliance and onboarding in less than 12 hours. The solution sells itself.”  Sharon Landau – Project Manager, Purchase Direct  

The future 

Right from the start of Vyne’s relationship with Purchase Direct, scaling and expanding across their business has enabled all clients and their sectors to benefit.

“Vyne has been supportive and reactive. As a result, we’re bringing in more features and products into our offering. It’s a very forward-thinking partnership which moves at pace.” Sharon Landau – Project Manager, Purchase Direct