Danemark-based fintech Pleo has extended its partnership with Yapily to automate account top-ups as it expands into Europe and adopts Variable Recurring Payments (VRPs). In September 2022, Pleo partnered with Yapily to create a seamless and instant payment experience for finance teams when topping up their Pleo wallet.

Through Open Banking, Pleo eliminates the lengthy, manual payment process that adds user friction and creates unnecessary cash flow uncertainty for businesses. Increased adoption of Open Banking payments Since launch, Pleo has reported consistent double-digit, month-on-month growth in customers using Open Banking as their preferred payment method to transfer funds into their account. The results showed that 80% of returning customers used Open Banking as a payment option for repeat account top-ups, with EUR 7.3 million being paid into Pleo accounts across the UK, Netherlands, and France using Yapily’s Open Banking infrastructure.

Yapily’s extensive bank coverage and single API integration have enabled Pleo to expand into new markets with ease, for example, the launch into the Netherlands has seen 60% of customers use Open Banking to top up their Pleo wallet since its launch in November 2022. It plans to use a similar approach to roll out open banking into more of its core European markets later this year including Germany. Automating top-ups with VRPs Pleo is now also harnessing new innovations in Open Banking by leveraging VRPs to automatically sweep money into their Pleo wallets when funds have reached a set threshold limit.

This will allow Pleo customers to automate their top-up rules and further streamline their expense management process with Open Banking. Officials form Pleo said that partnering with Yapily has enabled them to offer their customers a frictionless user journey when loading their Pleo wallet. This means they can focus on what really matters: good cash management.

Following the immediate, positive response from their customer base in the UK, France, and the Netherlands, they are expanding the offering into more of their core markets and seizing on innovations in Open Banking, such as Variable Recurring Payments, to deliver an even more seamless customer experience. Yapily is an Open Banking infrastructure platform solving a fundamental problem in financial services: access. It securely connects its customers to thousands of European banks allowing them to access financial data and initiate payments.

In this way, Yapily enables innovative companies to embed the power of open banking into their products and services, creating better and fairer financial services for everyone. Yapily’s customers range from disruptive fintech to industry leaders operating in a number of verticals. It counts Intuit Quickbooks, Pleo, and American Express among hundreds of businesses using its platform.

To date, Yapily has raised USD 69.4 million in funding, employs over 200 people worldwide, and continues to scale across Europe. .