Marketplace Tuft cuts payment costs by 62% and supercharges their growth with Ryft
Tuft is a B2B2C marketplace for pet services that’s due to expand to the USA, Canada and Australia. As a growing business, Tuft needs a payment solution that can scale and adapt to their evolving needs.
Finding a scalable and flexible payment solution
After initially choosing Stripe for its market presence, Tuft quickly encountered critical limitations that slowed their growth:
- Inability to customise payment capture for their specific needs
- Rigid pricing structures with high processing fees
- Unhelpful support and a deprioritisation of Tuft’s queries
We needed another payment platform that allowed us customisability and price flexibility," explains Chloe, Co-founder & CEO. "Most importantly, we wanted to be seen as a partner and not just another cog in the wheel."
A strategic shift to a collaborative payments partner
Chloe met Ryft's founders during a networking event and there was an alignment on vision. Ryft’s purpose-built marketplace payments infrastructure and willingness to work collaboratively made the decision to switch from Stripe an easy one.
Migration was carefully planned and executed:
- An 8-week advance notice was given to all users about the upcoming switch
- New signups were immediately directed to Ryft
- Existing users were gradually migrated as their Stripe balances cleared
- Integration was painless and included close collaboration throughout
Customised payment solutions and significant cost savings
After 1 year of working together, Tuft has experienced these significant benefits:
Financial Impact
- 62% cost savings (Ryft vs. Stripe)
- More flexible pricing structure aligned to their business needs
Operational Impact
- Customised solution for processing payments online
- Comprehensive documentation and responsive support
As a growing business, Ryft's adaptability has been crucial," says Chloe. "The stress reduction has been significant - we can focus on growth while knowing our payments are handled."
Key Benefits
- 62% reduction in payment processing fees
- Customisable payment solutions
- Top-tier customer support and success
- Comprehensive documentation and technical support
- Purpose-built marketplace payments platform
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