OpenPayd, Yapily to offer a simplified payments experience

Demand for embedded finance and Open Banking solutions is growing at a meteoric rate. 92% of business leaders are planning on launching embedded finance solutions within the next five years, whilst UK Finance data shows that Open Banking payments increased more than 500% in 12 months from 0.5 million to 2.6 million transactions between September 2020 to 2021.

Together, the fintech firms are seeking to address this demand by integrating Yapily’s Open Banking platform into OpenPayd’s embedded finance offering, creating a complete banking and payments ecosystem through a single API. Businesses and their end-users will be able to send payments instantly and directly from their bank account to their OpenPayd account using Yapily Payments. OpenPayd customers can also keep the payments journey branded within their service, delivering increased payment conversion rates, and a better user experience for end customers. The collaboration works both ways, with Yapily integrating OpenPayd’s embedded finance infrastructure – offering plug-and-play banking and payments services that simplify and speed up the payment process. 

The collaboration will see a roadmap of products and services added over the coming months of 2022. It follows the news that Yapily has agreed to acquire Germany-based Open Banking solution provider FinAPI.

To find out more about OpenPayd, please click here.