Primer, a UK-based fintech company which is backed up by venture capital firms Balderton and Accel, announced the launch of Primer Connect. Primer Connect is an open application framework that allows third-payments services to build integrations and connections on the Primer platform. According to a report published by Statista Research, the consumer adoption rate for fintech in the UK is notably higher than that of the global average of 64 percent. The adoption rates have accelerated between 2017 and 2019 due to a surge in the number of financial service companies that offer fintech products in the UK.
More on Primer’s open app framework
According to the company, the launch of Primer Connect is a major development as it allows it to position itself as an open and agnostic payments infrastructure for users that want complete control and flexibility for their payments services. Further, the company also said that it gradually aims to minimize any hassles while using new payment solutions that enter the market. Further, Primer is also developing a payments API to increase the transparency within a merchant’s payment stack.
Paul Anthony, Co-founder, and Head of Product and Engineering said that with Primer Connect, Primer enables payment-related services to significantly decrease go-live timeframes, increase distribution as well as ensure customers maintain up-to-date technical integrations. Anthony adds that Primer is an uncompromising, fully agnostic payments integration and that the launch of Primer Connect will ensure users get access to top-notch products and services across their payment stacks.
More about Primer and Primer Connect
Primer is an automated payments engine where merchants can seamlessly connect and add payment service providers (PSP), different payment methods, and different payment-related services to their payment flows. Ex-PayPal employees, Gabriel Le Roux and Paul Anthony founded the company in 2020 which has raised around £17.8 million to date. Primer is a remote company that has more than 40 employees that operate across 15 countries.
Primer Connect is a first-of-its-kind open app framework that already has multiple early participants on board such as Laybuy, Bridge, GoCardless, Worldline, Mollie, and others. Currently, Primer Connect is in the closed beta phase and is anticipated to be available to the developers in the second quarter of 2021.
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