Alipay+ and Yapily Join Forces to Elevate European Open Banking and Mobile Payments

Alipay+, a prominent provider of cross-border digital payment and marketing solutions, has embarked on a significant collaboration with Yapily, a leading player in the European open banking arena, according to Fintech Global News. This partnership aims to leverage the power of open banking in diverse mobile payment platforms, with the ultimate goal of enhancing global connectivity between consumers and merchants.

This strategic alliance represents a major milestone in Alipay+’s global partnership initiative. Its primary objective is to offer a more convenient and secure payment option for millions of European consumers, complementing the existing 1.4 billion consumer accounts already integrated into Alipay+ across Asia.

Powered by Yapily’s innovative open banking infrastructure, European bank customers will gain the capability to initiate cross-border payments to Alipay+ merchants worldwide directly from their bank accounts. This integration promises a seamless payment experience enriched with enhanced security features.

This collaboration is set to streamline Alipay+’s payment processes and bolster merchant confidence. Leveraging Yapily’s open banking payment infrastructure, the two companies will collaborate on creating new solutions to enhance transaction value for merchants by actively engaging customers throughout their purchasing journey. This includes linking customers to promotions and other value-added services.

For merchants, Yapily’s open banking payment framework offers scalability and resilience, ensuring excellent service delivery to consumers. Moreover, it provides the flexibility required for ongoing innovation in the global payment and retail sectors.

Stefano Vaccino, CEO and Founder of Yapily, expressed his views on the potential of open banking, stating, «Open banking presents a significant opportunity to improve the experience for both merchants and consumers when receiving and making cross-border payments. In recognizing 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 realize the potential of open banking and its mission to make it easy to do business anywhere.»

Pietro Candela, Head of Development in Europe at Alipay+, shared his enthusiasm, saying, «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.»

The partnership between Alipay+ and Yapily signifies a pivotal moment in the evolution of open banking and mobile payments in Europe. With their combined expertise and commitment to innovation, they are poised to provide consumers and merchants with enhanced payment experiences and foster greater financial connectivity on a global scale.