Marketplace Tuft cuts payment costs by 62% with Stripe alternative 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 needed a payment processing 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
After meeting Chloe, CEO at Tuft, at a networking event our founders discovered there was an alignment of vision between both brands. Ryft’s purpose-built marketplace payments platform, dedicated human support team and willingness to work collaboratively made the decision to switch from Stripe an easy one for Tuft.
Migration was carefully planned and executed:
- An 8-week advance notice was given to all users about the upcoming switch
- New vendors were immediately onboarded to Ryft
- Existing vendors were gradually migrated as their Stripe balances cleared
- A seamless integration that 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
- 24/7 human customer support and success
- Comprehensive documentation and technical support
- Purpose-built marketplace payments platform
- Switched to a partnership-first Stripe alternative
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