Vroom’s New Digital Payment Processor Allows Sale of Age-Restricted Items at Convenience Stores

In partnership with Finix, Pay360 drives down risk and offers below-market processing rates
Vroom and Finix payment solution
Photograph courtesy of Vroom Delivery

Digital commerce platform Vroom has partnered with payment processor Finix to offer Pay360, an online payment solution that allows for the secure online sale of age-restricted items at convenience stores.

Pay360 is the latest c-store specific feature of Vroom Delivery's Commerce360 initiative that was launched in February. Commerce 360 is a “full-stack” digital commerce solution. The platform facilitates an omnichannel experience by automating the management of product information and inventory across all digital ordering and delivery channels. The cornerstone of Commerce360 is Vroom Delivery’s proprietary Automated Menu Management (AMM) system, which manages menus and product availability across first-party ordering, third-party marketplaces and in-store kiosks.

Retailers that sell age-restricted products online are often deemed higher risk by legacy payment processors due to increased fraud associated with these items, according to Vroom. This leads to significantly higher processing rates and chargebacks.

By leveraging Finix's vertically integrated payment solution combined with other third-party machine learning fraud prevention systems, Vroom can drive down the risk of offering age restricted products online and consequently offer significantly below-market processing rates for them.

Pay360 is nearly 25% below standard rates by major players such as Stripe or Braintree, and more than 40% cheaper than most high-risk processors, with an average chargeback rate of less than 0.1%, according to the company.

“We tailor every aspect of our business to the convenience store industry,” said John Nelson, CEO of Vroom Delivery. “In the past this has meant things like online SNAP/EBT, cost effective white label fulfillment, and our automated menu management system. By adding Pay360 to the mix, retailers can confidently sell every item in their stores at a cost and level of security unmatched in the industry.”

Additional benefits of Pay360 include faster refund times than legacy payment solutions that typically take several business days to settle.

“Finix is thrilled to announce its partnership with Vroom Delivery, aiming to drive down their processing costs while enhancing transaction insights to their processing solution,” said Richie Serna, CEO of Finix. “This collaboration marks a significant step forward in empowering retailers with a streamlined payment solution, ultimately fostering a payment stack of greater efficiency and financial clarity. We are excited for the Pay360 launch and are looking forward to bringing transparency to an industry which has been underserved by legacy processors.”

Vroom Delivery isa full-stack digital commerce solution for convenience stores, providing technical aspects required for convenience-store chains to operate, automate and manage e-commerce and delivery services based in Miami.

Finix, San Francisco, is a full-stack payment processor and infrastructure provider.

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