Cheddar acquires Upside for its Open Banking technology

Wednesday 2 March 2022 12:51 CET | News

Cheddar, a bank transfer platform, has acquired the Open Banking technology by Upside Saving to be added to the company’s free payment offering.

Upside developed an Open Banking-enabled, hyper-targeted, marketing platform which connects retail brands with consumers by offering personalised cashback, a different approach providing advantages over traditional cashback platforms.

Cheddar will use the technology to complete the picture of the payments process for consumers. The Open Banking integration, which can be run without third parties via Cheddar, will be used to further develop the Cheddar payment platform.

Cheddar operates as a bank account-enabled payments platform that is free for consumers to use. The platform is built to solve inefficiencies in the payment chain, innovate the way people send and manage money, and to make payments more accessible for small businesses and consumers.

Work to incorporate Open Banking into Cheddar’s services is already underway. The first services of this kind are anticipated to be available to the platform’s customers later in 2022.

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Keywords: expansion, Open Banking, acquisition, retail, cashback
Categories: Banking & Fintech
Companies: Cheddar
Countries: United Kingdom
This article is part of category

Banking & Fintech


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