Open Banking infrastructure provider Yapily has launched its bulk payments service with SME payments platform Comma in the UK, with plans to roll it out into Europe.
Yapily, working in partnership with Comma, has simplified the bulk payments process under Open Banking in the UK, having previously only been available to medium to large-scale businesses that have corporate banking accounts.
Its proposition provides customers with the API connection needed to create a secure and scalable bulk payments feature for their clients.
This means that Yapily is the first Open Banking infrastructure provider to test and release bulk payments functionality for seven financial institutions in the UK.
The company has confirmed it intends to roll out its bulk payments service to customers in Germany in the coming months, as it looks to power new bulk payments propositions with more European customers.
By using Yapily’s bulk payment offering, Comma’s accountant and bookkeeper customers can create and share payment runs with clients who can then bulk pay bills, taxes and salaries on their phone or desktop, from their own bank account.
Tom Beckenham, CEO and founder of Comma, said: “Paying anything manually is a tedious process and often affects the small business owner.
“Working closely and transparently with Yapily, we’re now able to provide our customers with a magical payments experience. It gives them the time back to focus on growing their businesses.”
Stefano Vaccino, CEO of Yapily, said they have seen increasing demand from customers for bulk payments capabilities.
“We’re proud to say that after some hard work, we’ve built a reliable bulk payments feature for our customers in the UK. We’ve been lucky to work with pioneering clients like Comma who have supported us in stress-testing the functionality so we can deliver the most robust service possible,” Vaccino added.
“What might seem on the surface to be a simple implementation of the required endpoints, has been a huge team effort, and a big learning curve for us as an Open Banking infrastructure provider. We’re already working on rolling this out into Europe and we’re excited to be working with Comma and other customers on developing even further.”