Pleo harnesses Yapily’s open banking to adopt VRPs

Danish spend fintech Pleo is extending its partnership with open banking leader Yapily as it branches out further across Europe and adopts variable recurring payments (VRPs).

Building on the partnership the two fintechs forged back in September to create instant payments for finance teams through Pleo, the company plans to use new innovations in open banking.

Leveraging VRPs to automatically sweep money and account top-ups, Pleo customers will be able to further streamline expense management through Yapily’s open banking capabilities.

“Partnering with Yapily has enabled us to offer our customers a frictionless user journey when loading their Pleo wallet. This means they can focus on what really matters; good cash management,” Pleo chief product officer Mette Gade said.

“Following the immediate, positive response from our customer base in the UK, France and the Netherlands, we are expanding the offering into more of our core markets and seizing on innovations in open banking, such as Variable Recurring Payments, to deliver an even more seamless customer experience”.  

According to Pleo there has been double-digit, month-on-month growth in customers using open banking since September, with €7.3m being paid into Pleo accounts across the UK, Netherlands and France using Yapily’s open banking infrastructure. 

“Payments innovation remains at the heart of the most successful fintech user experience, and Pleo’s dedication to improving the ease and speed with which its customers can top-up their wallets through open banking has been a resounding success, proven by rapid adoption from its user base and continued geo-expansion,” Yapily founder and CEO Stefano Vaccino said.