UK-based fintech Guavapay has partnered with Open Banking platform Yapily to provide a faster experience across the former’s new payment application. Through this partnership, Guavapay aims to enhance the user experience of its newly launched payment application named MyGuava.

Specifically, Yapily's Open Banking technology will be integrated into the MyGuava platform to enable quicker top-up transactions for GBP and EUR accounts from supported bank accounts. Guavapay intends to utilise Yapily's secure Open Banking platform API to provide customers with secure access to and direct transfer of funds from their preferred financial institutions to their MyGuava accounts. The incorporation of this technology eliminates the need for traditional, time-consuming fund transfer methods involving manual account input.

Open Banking contributes to data breach prevention, simplifies the payment process, and conserves time and effort for MyGuava users. Thanks to Yapily's robust API-driven platform, Guavapay can ensure a secure and smooth fund transfer experience for its customers, which has the potential to support customer loyalty. In the company press release, officials from Guavapay expressed enthusiasm about the partnership, highlighting how leveraging Open Banking can enhance payment capabilities and the overall user experience within MyGuava.

This aligns with Guavapay's commitment to providing innovative solutions that simplify financial transactions. Representatives from Yapily also expressed satisfaction with the collaboration, emphasising the ease and security it brings to topping up through MyGuava. They commended Guavapay's dedication to innovating payments and providing customers with improved financial experiences.

More information about Guavapay Established in 2017, Guavapay is a financial technology company offering global payment solutions to both individuals and businesses. The company operates across regions including the United Kingdom, EU, Canada, and the USA. Guavapay provides a comprehensive array of payment services, encompassing cross-border payments, acquiring, card issuing, Payments-as-a-Service solutions, and the payment application MyGuava.

MyGuava consolidates the functions of multiple financial apps, offering a unique solution for various payment needs. Users can securely make purchases, send global money transfers, and facilitate business payments through the platform. Multiple currency accounts, including EUR, GBP, CAD, and CHF, are available for MyGuava customers.

In May 2023,  Guavapay partnered with Discover Global Network to expand scheme access with memberships in acquiring and issuing. The collaboration aimed to support Guavapay’a overall strategy of broadening the payment methods and increasing acceptance for cards running on the Discover Global Network. According to the official press release, the companies signed a strategic agreement on acquiring and issuing, with processing set to come in the following months.

Through this partnership, Guavapay gained the ability to provide its customers with debit and prepaid cards that run on the Discover Global Network. .