Openpay partners with Yapily

Tuesday 7 November 2023 13:36 CET | News

Denmark-based Openpay has announced its partnership with Yapily, an Open Banking API provider, to facilitate optimised cross-border, P2P money transfers in Europe. 

Following this partnership, Openpay aims to enable its customers and collaborators with secure connections to over 2000 banks and financial institutions across 19 countries in the region of Europe. In addition, both firms will focus on delivering convenient options for instant, free cross-border money transfers, as well as day-to-day payments. 

The Openpay application was developed in order to allow clients to execute immediate, cost-free money transfers without caps on the volumes of transactions. In addition, users will be enabled to benefit from the possibility of expense sharing and settlement functionality, which are important for group budgeting and expense tracking. 

Available firstly for account holders in Denmark, the solution will roll out to Sweden, Norway, Germany, and the UK later in 2023. According to the press release, the company aims to launch a debit card service in 2024, as well as to introduce merchant tools thereafter. 


Denmark-based Openpay has announced its partnership with Yapily, an Open Banking API provider, to facilitate optimised cross-border, P2P money transfers in Europe.

Yapily’s recent partnerships and developments

Yapily had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world. 

At the beginning of September 2023, the AI-powered solution Ntropy announced its collaboration with the Open Banking platform Yapily in order to improve financial information and transaction data for clients and users across Europe. Throughout this strategic deal, Yapily’s clients were given the possibility to leverage Ntropy’s financial data and enrichment API in order to categorise bank transaction data. This was set to improve the process of reducing manual data entry, as well as to optimise fraud detection and the overall credit risk assessment. 

According to the press release published at the time, clients and users with lending and credit use cases were also enabled to utilise the solution in order to conduct credit decisions while using bank transactions to verify self-reported financial data. In addition, they were allowed to identify merchants and recognise income and revenues. The partnership allowed Yapily’s users across Europe to benefit from Ntropy’s multi-geo and multilingual optimisation capabilities at the same time. 

Earlier in August 2023, the UK-based fintech Guavapay announced its collaboration with Yapily in order to provide a faster and safer experience across the former’s new payment application. Guavapay focused on improving the user experience of its newly launched solution, the MyGuava application. More specifically, Yapily’s Open Banking technology was set to be integrated into the MyGuava platform to enable quicker and more efficient top-up transactions for GBP and EUR accounts from supported bank accounts. 

At the same time, Guavapay intended to leverage Yapily’s Open Banking platform API in order to provide clients with secure access and direct transfer of funds from their preferred financial institutions to their MyGuava accounts. 

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Keywords: partnership, cross-border payments, cross-border ecommerce, payments , P2P payments, online payments, digital payments, mobile payments, ecommerce, Open Banking
Categories: Payments & Commerce
Companies: Openpay, Yapily
Countries: Europe
This article is part of category

Payments & Commerce




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