UK-based payments startup Trilo has partnered with Open Banking infrastructure provider Yapily to help simplify payments for businesses and merchants, and avoid card interchange and transaction fees.
By partnering, Trilo and Yapily will bring the benefits of Open Banking to the wider retail market, enabling both online and point of sale payments through Trilo’s single payment platform.
Using Yapily’s Open Banking infrastructure will enable Trilo to give merchants better visibility of their customers and will also improve overall conversion rates.
Hamish Blythe, founder of Trilo said: “With Yapily’s extensive connection to banks, we have the ability to focus on what we do best – giving our customers a stellar experience.
“Yapily’s connectivity and reach across Europe is also supporting our ambitious expansion plans. We’re currently based in the UK, but we’re planning to expand our services overseas in the next year, and with Yapily, we’re one step closer to achieving this goal.”
Stefano Vaccino, CEO of Yapily, added: “Trilo is a great example of a platform making a positive impact on helping businesses bounce back from an extremely difficult year.
“Its mission to eliminate cards and unnecessary transaction fees aligns perfectly with our goal to enable fintechs with fairer, faster and more secure payments. We’re excited about Trilo’s venture and we’re looking forward to it growing from strength to strength.”
Yapily CCO Iain McDougall is joining Bottomline, Zero and SWIFT in a panel debate on the payments stage at this year’s Open Banking Expo UK on 4 November.