Leader in Open Banking payment technology, Waave has partnered with leading global payments orchestrator, Gr4vy to introduce its Pay by Bank solution to major merchants nationwide.

Waave has built the first Open Banking powered payment method in Australia that significantly reduces payment costs for merchants, is accepted by all Australian banks, and provides enhanced security through Waave’s Consumer Data Right accreditation. For consumers, Pay by Bank is a secure and surcharge-free alternative payment method to traditional cards, requiring no third party, and no entering or sharing of card details.

Barbeques Galore has become the first major retailer in Australia to leverage its partnership with Gr4vy to go live with Waave’s Pay by Bank solution. Payments have become a key area of focus for Barbeques Galore in response to customer demand for Buy Now Pay Later schemes and other payment types, as well as more traditional transaction facilitation methods.

In addition,Waave and Barbeques Galore are working together to optimise Waave’s technology across the retailer’s loyalty program, The Barbeque Legends Club.

Barbeques Galore chief financial officer, Mitchell Koureas said, “We are excited to be working with Gr4vy and Waave to bring a new surcharge-free option to our customers and lead the industry in the adoption of Open Banking. This is a way for us to save on merchant fees while offering a fair, secure and seamless payment experience to our customers. We are also exploring using this technology to offer a one-tap checkout experience that integrates with our other member benefits including discounts, exclusive access to cooking experiences, and other member only offers.”

Gr4vy CEO and founder, John Lunn said, “We are delighted to partner with Waave in revolutionising the Australian retail payment landscape. Our collaboration marks a significant milestone in embracing open banking, offering a cutting-edge Pay-by-bank solution that aligns with our commitment to streamlining payment processes while simplifying the integration and maintenance burden for merchants.

“This partnership not only elevates the payment experience for consumers but also presents a unique opportunity for retailers to optimise transaction costs and enhance payment security. We’re proud to support Barbeques Galore and Baby Bunting in their pioneering efforts to adopt this technology, setting a new standard for the retail industry.”

Waave CEO and co-founder, Ben Zyl added, “Our mission with Pay by Bank is to reinvent the payment experience. For too long merchants have been held to ransom. The technology now exists to offer seamless, fast and secure digital payments without the ridiculous cost. We are thrilled to be working with Gr4vy and major retailers like Barbeques Galore and Baby Bunting to reduce their payment costs while giving their customers quick and direct access to their money with full security and transparency – no more surcharges, no more entering or divulging of card details.”