back Back

Alipay+ partners with Yapily for open banking payments in Europe

By Gloria Methri

November 15, 2023

  • Account-to-Account Payment Solutions
  • Alipay
  • Europe
Share

Alipay+, Yapily, Open Banking Payments, Digital Payments, Cross Border Payments, QR Payments, FinTech, EuropeAlipay+ has partnered with Yapily to explore the application of open banking on various mobile payment platforms and enhance connectivity between consumers and merchants globally.

The partnership will catalyse the deployment of a more convenient and secure payment option for millions of European consumers, in addition to the 1.4 billion consumer accounts already connected by Alipay+ across Asia.

Enabled by Yapily’s open banking infrastructure, consumers who bank with European financial institutions will be able to make cross-border payments to Alipay+ merchants across the world directly from their bank accounts.

The introduction of such account-based payments is expected to streamline Alipay+’s payment process and bolster trust for merchants. Based on Yapily’s open banking payments infrastructure, the partners will jointly develop new solutions to provide the premise for merchants to increase transaction value by engaging customers throughout the buying journey and connecting them to promotions and other value-added services.

For merchants, Yapily’s open banking payment’s structure will offer the scalability and resilience to deliver service excellence to consumers, as well as the business agility required to further innovate in the payment and retail sectors globally.

Stefano Vaccino, CEO and Founder of Yapily said, “Open banking presents a significant opportunity to improve the experience for both merchants and consumers when receiving and making cross-border payments. In recognising this potential and launching such new payment solutions, Alipay+ will act as a catalyst for mass adoption of open banking in Europe. We are delighted to be providing the infrastructure that is enabling Alipay+ to realise the potential of open banking and its mission to make it easy to do business anywhere.”

Pietro Candela, Alipay+’s head of development in Europe added, “Europe is on the front lines of open banking. The region’s unique regulatory framework fosters innovation within its banking ecosystem and gives Account-to-Account, instant, and mobile app payments room to grow through open banking solutions. As such, we are enthusiastic to begin our collaboration with Yapily, and to develop new payment solutions that bring heightened value and convenience to European consumers and global merchants.”

Previous Article

November 15, 2023

Send Payments & PEXA team to streamline foreign exchange transactions

Read More
Next Article

November 15, 2023

Levenue acquires Cake and secures €8m in Series A from Truffle Capital

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Account-to-Account Payment Solutions

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

Paysys Labs & Raqami Islamic Digital Bank to fuel digital payments in Pakistan

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024