San Mateo, CA – April 20, 2023 – Gr4vy, the leading cloud-native payments infrastructure company, today announced Setplex, a leading full-service IPTV/OTT solutions provider, has selected the company's cloud-native payment orchestration platform (POP) to accelerate time-to-market, onboard new merchants and quickly implement locally preferred payment methods.
"Offering local payment methods can be complex due to data and privacy regulations. Payment infrastructure is crucial to overcome these hurdles, which is why we offer infrastructure-as-a-service over software-as-a-service to empower merchants with all the infrastructure needed to implement all payments," said John Lunn, founder and CEO of Gr4vy. “Setplex delivers a best-in-class user experience across all its platforms, and works with some of the best in the streaming, IPTV and OTT industry. We're honored to work with such a prestigious company to provide advanced payment solutions and methods that work regardless of location."
Setplex offers highly-scalable, low-latency IPTV/OTT solutions for video, with a focus on delivering the best UI/UX across all its platforms. The company's end-to-end video streaming and delivery platform enables broadcasters to build or upgrade to a state-of-the-art IPTV/OTT solution and has launched 150+ broadcasters, encoded 40,000 plus channels and managed over 5 million subscribers.
Gr4vy's payment team worked with Setplex to rapidly enter new markets and implement locally preferred payment methods. Through Gr4vy's payment orchestration platform (POP), Setplex was able to onboard a merchant in LATAM and connect to a gateway in India to accelerate new merchant acquisition and sign new customers. This ongoing partnership means Setplex can now onboard new payment solution providers (PSPs) and offer advanced payment methods, resulting in successful launches for its merchants.
"As an IPTV/OTT solution that is future-proof, we're constantly looking to expand into new regions and take advantage of growth," said Lionel Dreshaj, CEO of Setplex. "Gr4vy has become a trusted partner, and as a result, we can now quickly implement locally preferred payment methods without coding, tight deadlines or months of negotiations with PSPs. Gr4vy's POP has allowed us to accelerate our time to market and expand our payment methods regardless of location while still meeting our partner's and client's needs. We look forward to future endeavors with such a leader in payments orchestration."
The announcement comes as merchants and streaming services look to scale payments and take advantage of the growth in the IPTV/OTT market. Markets and Markets reports that the IPTV market is estimated to reach 115.2 billion USD by 2026, and the global digital payments market is anticipated to increase to 180.2 billion USD by the end of the same year. As such, merchants within the streaming and IPTV industry require advanced payment infrastructure and tools to streamline and manage payment methods, services, and scale to take advantage of growth.
Gr4vy's infrastructure and POP enable merchants to access new markets through instances and edges to overcome hurdles around local data privacy. Merchants can access multiple instances of Gr4vy to create redundancy and reduce points of failure. These instances become a merchant's individualized payment infrastructure with everything needed to connect to leading PSPs and manage everything within their payment stack. As a cloud infrastructure solution, Gr4vy can also spin up edges for a merchant's instance and deploy it locally in any region or country, keeping merchant and customer data in the area or country of deployment to meet ongoing data privacy protection laws now prevalent worldwide. For more information, please visit https://gr4vy.com/.
Gr4vy is a cloud-based IaaS payments platform that simplifies building and managing payment ecosystems for merchants. Gr4vy’s no-code rules engine allows businesses to get access to 100+ unique payment methods and anti-fraud providers worldwide through a single low-code integration, enabling them to scale their payments ecosystem and expand into new markets quickly, with just a few clicks. Merchants can personalize checkout experiences for every customer, create dynamic and smart rules for routing and retries, tokenize transactions, migrate data between providers and much more. Gr4vy is PCI DSS Level 1 compliant, PSP-agnostic, and offers dedicated cloud instances for resilience, redundancy, and performance, eliminating the risk of a single point of failure. For more information, please visit https://gr4vy.com/.
Setplex is a leading provider of flexible, end-to-end hardware and software solutions for OTT and IPTV offerings. The company enables broadcast, cable, satellite, and Internet TV operators with a wide range of offerings for the ingestion, delivery, and performance analytics of high-quality content. Its array of simple, powerful, scalable solutions has been installed by more than 150 platforms worldwide. For more information, visit https://www.setplex.com.