Yapily partners with Two to tackle Europe’s €400b SME finance gap

26 May 2022

Open Banking platform Yapily has partnered with B2B Buy Now, Pay Later (BNPL) start-up Two to enable merchants to offer BNPL services to their business customers instantly at checkout.

With the existing SME finance gap in Europe estimated at €400 billion, the fintech duo is helping ease the burden by offering alternative ways to access credit via BNPL and Open Banking.

Deane Barton, Head of Product at Two, said: “Many SMEs across Europe are in recovery mode after spending nearly two years dealing with an unpredictable economic climate. With Yapily and Open Banking, we are able to provide a safer, cheaper, and easier financial bridge for businesses that are ready to move forward.” 

When a business chooses to pay with Two at an online checkout, using Yapily Data, Two can instantly retrieve the buyer’s account information to support its real-time ID verification checks. This includes fetching user information such as name and date of birth, as well as transaction data to support fraud analysis. Once approved, the business customer then has the option to pay up to 90 days after the purchase is made.

E-commerce platforms offering Two at checkout can expect to see higher business customer approval rates of up to 90%; an increase in average order value up to 60%; and a 20% uplift in sales conversion rates. Businesses will also benefit from a more seamless online buying and selling experience.

Stefano Vaccino, Founder and CEO at Yapily, commented: “It’s great to see yet another innovative fintech company like Two challenging the status quo to deliver greater flexibility for businesses across Europe. This is a brilliant example of how Open Banking can help cash-strapped businesses at a time when they need it most.”

The partnership will see Open Banking rolled out to Two customers across the UK, with more European markets to follow as the fintech continues to grow rapidly.

It follows the news that Yapily has agreed to acquire German Open Banking solution provider FinAPI to create the leading Open Banking platform in Europe.