Yapily integrates Polish API framework

Friday 24 June 2022 10:56 CET | News

Open Banking platform Yapily has integrated with Poland’s API framework, according to the official press release.


From revenue-based financing to on-demand salary payments, Poland is reportedly trailblazing the fintech industry with an estimated value of EUR 856 million. Paired with its rapidly developing entrepreneurial ecosystem, Poland is setting the benchmark for financial innovation.

Digital payments are the country’s biggest fintech segment, accounting for over 50% of the market. In 2021, there were over 21 million people making digital payments - a 5.5% increase from the previous year. Contactless payments, virtual wallet payments, and wearable devices equipped with contactless technology were the most-used payment methods powered by Polish fintech innovation.

In 2021, Polish fintech startups performed noticeably well, with 270 companies operating and 31 of those making the FT 1000 Europe's Fastest-Growing Companies list. Poland saw record funding in 2021, attracting USD 8.2 billion in investment value. By the end of 2022, Polish fintech funding is expected to exceed USD 150 billion.

Poland has a population of 38 million, of which nearly 40% are active fintech users. Innovation is treated as customary, particularly when it comes to digital payments. As a result, Poland features in the top 5 countries regularly using contactless technology and features a market quick to absorb innovative solutions. Poland is a hub of fintech activity with an exponential rise in startups such as Ramp, Nethone, Booste, and Flexee.

Poland is particularly attractive for startups entering into virtual currency. Legislation is one of the most favourable when it comes to taxation, allowing crypto companies to scale at will. Open Banking supports wallet top-ups and improves conversion, so startups don’t need to create a personalised solution every time they enter a new market.

Yapily’s Pan-European coverage will support Polish fintechs who are looking to expand their solutions into wider Europe and beyond, the official press release concludes.

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Keywords: Yapily, fintech, Open Banking, expansion
Categories: Banking & Fintech
Companies: Yapily
Countries: Poland
This article is part of category

Banking & Fintech


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