The service will remain active as an e-money institution for the B2B market.
Launched in 2011, Yapital used features such as QR codes to let people make in-store and online payments. Additionally, Yapital users could pay bills with their mobile phones. However, neither of these features proved to be much of a success, despite the promising start.
Otto Group identifies the culprit of Yapital’s failure in the form of a very competitive market, especially over the past 24 months. In addition, the company blames the slow consumer adoption, studies indicating that there are currently only 200.000 users in Germany.
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