Yapily, Soldo Team to Help SMBs Manage Payments

Open banking platform Yapily and spend management company Soldo have partnered to help businesses in Europe maintain visibility over their payments and control spending.

“Leveraging Yapily Payments, Soldo customers can top up their Soldo account directly from their business bank account,” Yapily announced on its website Tuesday (July 12).

From there, customers get funds in their accounts instantly, streamlining account funding and speeding up the process of getting funds into Soldo. There’s also no need to leave Soldo’s app when making a top-up transfer, giving businesses a better user experience.

Soldo said Yapily has helped it process more than 6 million pounds ($7.1 million) in open banking payments to thousands of businesses, from small- to medium-sized businesses (SMBs) to larger companies, across the U.K., Ireland, Italy, Germany, Netherlands, France and Spain.

The companies hope to add more open banking solutions as Yapily continues to expand its product suite and geographic footprint across Europe.

“Our customers are at the heart of our business, and we are constantly striving for ways to make their lives easier,” said Carlo Gualandri, founder and CEO of Soldo. “With Yapily and open banking, we are helping our customers to take back control of their finances. We are particularly excited because the partnership will allow us to continue evolving as we look to embed more of Yapily’s open banking solutions into our offering.”

See also: Open Banking Firm Yapily, B2B FinTech Two Partner on BNPL for SMBs

In May, Yapily announced it was working with B2B buy now, pay later (BNPL) FinTech Two to help SMBs ease their cash-flow burdens.

The partnership is meant to help SMBs attain credit through BNPL and open banking. When a business purchases goods online, they can choose to pay using Two at checkout and receive the option of paying 14 to 90 days after purchase, accessing instant flexible credit.

“With the help of Yapily Data, Two can retrieve the buyer’s account information in real time for instant ID verification checks and approval,” the company said on its blog. “This includes fetching user information, such as name and date of birth, as well as transaction data, all without the need for endless forms.”

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