Montonio partners with Episode Six to expand open banking offering

By Gloria Methri

Montonio, an eCommerce checkout orchestration platform, has partnered with payments technology company Episode Six, to bolster its open banking offering in the Nordics.

Leveraging Episode Six’s Tritium platform, Montonio looks to create a modern payments ecosystem that breaks the barriers of traditional card processing and acquiring. It will enable Montonio’s merchant customers to reduce payment costs and payment times.

Montonio, which holds a strong position in open banking in the Nordics, needed a PayTech partner to provide them with a digital ledger that ensures instant payment flow between buyer and merchant accounts.

Episode Six’s platform, Tritium is equipped with over 550 APIs that help develop, customise, and launch tailored payment products and services. Episode Six will enable Montonio to effect chargebacks automatically and efficiently for any problematic transaction.

As these payments are irrevocable, there is no chargeback risk for merchants and banks. Fraud becomes a non-issue as account-to-account payments rely on the banks’ own security.

Kristofer Turmen, co-founder and CTO at Montonio said, “We are constantly looking to provide our merchant customers with a more positive and innovative payments experience. By partnering with Episode Six and leveraging its flexible solution, we’re now able to do just that. This partnership also means we can cater to larger merchants with higher transaction volumes.”

John Mitchell CEO and Co-Founder of Episode Six said, “Our partnership employs open banking and the concept of a digital marketplace to create a modern payments ecosystem that breaks the barriers of traditional card processing and acquiring. The project particularly excites us because it aligns with Episode Six’s vision of redefining possible payments. It is also a key milestone for Episode Six, as we are marking our expansion into the Nordics, a highly progressive region for payments.”