Payhawk Teams Up With Yapily to Simplify Payments Across the UK and Europe
Payhawk, a comprehensive spend management platform, has announced a strategic partnership with Yapily, a leading open banking API provider. This collaboration aims to streamline payment processes for finance teams, enhancing the Payhawk experience for users upgrading their Payhawk wallets, writes Tom Bleach for The Fintech Times.
Utilizing the capabilities of open banking, Payhawk’s objective is to eliminate time-consuming manual payment procedures, reduce user friction, and alleviate unnecessary cash flow uncertainties for businesses. By integrating with Yapily’s open banking infrastructure, Payhawk empowers its customers to seamlessly link one or multiple bank accounts from a wide array of financial institutions spanning over 2,000 banks across numerous countries.
This strategic initiative will be rolled out in several key markets, including the UK, France, Spain, Portugal, and the Benelux region. Users in these markets will gain the ability to effortlessly replenish debit accounts and settle credit accounts directly from their linked bank accounts.
Yapily’s comprehensive bank coverage and seamless API integration play a pivotal role in enabling Payhawk to enhance the experiences of both new and existing customers in its core markets. Notably, the Linked Account top-up feature expedites user onboarding while ensuring sufficient cash flow for expenditure needs.
Furthermore, Payhawk’s customers will now benefit from enhanced transparency and mitigation against duplicate transactions, as they can conveniently track deposits within the platform. This heightened level of control and visibility empowers businesses to uphold robust governance practices over their spending.
Stefano Vaccino, the founder and CEO of Yapily, expressed enthusiasm about the partnership’s potential to revolutionize Payhawk’s offerings. He remarked, «We are really excited to partner with such a fast-growing company like Payhawk. It’s a privilege to help them expand their open banking service in the Netherlands, UK, and other key European markets. This best-in-class fintech innovation partnership can unlock the massive potential of open finance to unleash further growth for both companies. I can’t wait to see what more we can achieve together in the upcoming years.»
Guy Sear, the commercial director UK at Payhawk, highlighted the benefits of the collaboration, stating, «Through this collaboration, Payhawk continues to eliminate manual processes and create efficiencies for finance teams in the Netherlands through an integrated all-in-one spend management solution.»
Ultimately, Payhawk’s overarching goal is to offer European customers a hassle-free method for ongoing money top-ups through the platform, following the initial bank account linkage. This aligns with Payhawk’s strategic vision to reduce dependence on external manual deposits and provide finance teams with greater insights and control over cash flow management.