Scaling with Confidence: How Ryft Supported Sprive's Growth and Customer Experience

Finding a payment solution that could keep pace with growth

Sprive primarily relied on open banking for customer payments, which presented specific hurdles for user experience and growth. While open banking was the main channel, Jinesh Vohra, CEO at Sprive, noted that some customers found the process too time-consuming, which could hinder the initial activation of new users.

When evaluating standard options like Apple Pay and Google Pay through other providers, Jinesh found that the processing fees were prohibitively high. The high cost of these essential payment methods made them economically unviable for the business model at that stage of their scaling journey.

Following an appearance on Dragon's Den, the business anticipated rapid growth and required a partner that could offer more than a standard, transactional relationship. There was a specific requirement for sophisticated payment flows to support their growth, along with commercial flexibility that they felt was unavailable from other providers like Stripe.

A payments partner that grew with Sprive

Sprive chose Ryft for three primary reasons: performance, partnership, and price.

Ryft's volume based pricing made Apple Pay and Google Pay commercially viable for Sprive's cashback model. Users can choose their preferred payment method without compromising their mortgage cashback.

As Sprive grew, Ryft adapted with it. When the business needed weekend payouts to manage increased transaction volumes, Ryft delivered. A shared investor relationship gave Jinesh confidence in Ryft's reputation from the outset.

The integration was equally straightforward. Ryft's APIs made the implementation fast and reliable. 

Better customer experience, stronger growth metrics

Since partnering with Ryft, Sprive has seen measurable improvements across its most important growth and customer experience metrics. By offering Apple Pay and Google Pay alongside open banking, Sprive removed a key barrier for users who found the existing process too slow, leading to an increase in conversion rates 

Sprive attributes improvements in both activation and retention to the quality of the payment journey Ryft enables. The business also maintains a 4.8 out of 5 rating on the Android App Store, which Jinesh credits an important part to the payment experience Ryft powers.

When Sprive appeared on Dragon's Den and secured interest from Deborah Meaden, Touker Suleyman, and Peter Jones, Ryft was already implemented; the infrastructure needed to handle rapid growth was in place before the surge.

• Competitive pricing: Volume-based pricing made Apple Pay and Google Pay economically viable without cutting into user cashback.
• Improved user activation: Faster checkout options reduced drop off during the first shop journey and directly lifted activation rates.
• Customer satisfaction: A seamless payment experience contributed to Sprive maintaining a 4.8-star Android rating throughout its growth.
• True partnership: Commercial flexibility, weekend payouts, and direct account access - a partner that scales with the business