According to the source, if completed, the deal will see the airline lower the number of cash payments on its flights for duty free and in-flight purchases and instead use mobile payments with Yoyo’s technology.
Yoyo runs a mobile payments app that also combines with an automatic loyalty point collection system for consumers and retailers.
The startup raised in May 2014 USD 5 million (GBP 3.1 million) of investment from Imperial Innovations Group, the technology investment group from Imperial College, Telefonica, Firestartr among others.
Yoyo was founded in 2013 by Alain Falys, co-founder of e-invoicing business OB10, Dave Nicholson, co-founder of peer-to-peer lending platform Zopa and Michael Rolph, who worked at Paypal, Barclaycard and First Data.
In recent news, global payment gateway BlueSnap has unveiled that Yoyo has selected BlueSnap to power its international transactions.
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