Trek partnered with Gr4vy to power an online-to-offline payment experience, offering consumers accurate inventory checks and simplified checkout.
Gr4vy’s payment orchestration dynamically routes transactions, which reduces friction, increases authorization rates, and allows Trek to manage multiple merchants efficiently.
Gr4vy provides Trek with a no-code, cloud-native platform to quickly implement diverse payment methods, comply with data laws, and enhance fraud prevention.
When it comes to buying bicycles and cycling accessories, consumers often prefer a shopping experience that takes place in multiple channels. To better accommodate these changing preferences, bicycle manufacturing company Trek has selected payments infrastructure-as-a-service (IaaS) company Gr4vy to power an online-to-offline payment experience that enables consumers to Buy-Online-Pickup-In-Store (BOPIS).
BOPIS has grown with the surge in ecommerce, along with heightened expectations of consumers, who prefer to order online and pick up in-store. In fact, 50% of shoppers select online stores based on in-store pickup availability. These changes in preferences, however, come at the same time that retailers and manufacturers are facing payment processing and inventory management challenges that pose checkout issues and stock shortages. To successfully execute BOPIS, retailers must ensure accurate inventory updates and a reliable payment system.
Gr4vy is partnered with online-to-offline shopping API solution Locally to enable Trek to show real-time inventory data from its network of retailers. This visibility allows shoppers to check stock availability on Trek’s website and complete the transaction online, while picking the item up in-store.
“Our goal is to give enterprises full control over their payment processes while removing unnecessary complexity,” said Gr4vy Founder and CEO John Lunn. “Ultimately, simplifying payments, so merchants can focus on what truly matters—growth.”
With its payment orchestration system, Gr4vy dynamically routes transactions to the optimal payment service provider to help reduce friction and increase authorization rates. When a customer completes their purchase, Trek and the local retailer receive the transaction details, and the customer can pick up their item in the store. Gr4vy’s dynamic payment routing helps Trek manage online and in-store transactions across multiple merchants of record.
Gr4vy also gives Trek a no-code method of adding multiple payment options, including digital wallets, Buy Now, Pay Later (BNPL), and alternative payment methods. “Partnering with Gr4vy has transformed how we approach payments, enabling us to seamlessly integrate options like BNPL and local shop inventory in a single checkout experience,” explained Trek Vice President of IT and Digital Steve Novoselac.
Gr4vy is cloud-native, PCI Level 1-compliant, and enables merchants to set up dedicated instances in specific regions to improve transaction speed and comply with data localization laws. Additionally, the API is set up to allow Trek to quickly implement new payment methods, currencies, and fraud prevention tools.
Founded in 2020, Gr4vy offers a platform that allows businesses to gain access to over 400 payment methods with a single integration. The platform also offers anti-fraud tools, and helps payment service providers optimize their payment stack without the need for IT expertise. In 2022, the California-based company was awarded Top Emerging Fintech Company at the Finovate Awards. Earlier this month, Gr4vy partnered with Australia-based New Payments Platform (NPP) Azupay to bring account-to-account payment solutions to Australian e-Commerce businesses.
Photo by Pavel Danilyuk
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