Yolt, a money management app, will now allow its debit card-holding customers to make payments through Apple Pay.
The integration will let Yolt’s users complete digital payments via their iPhones or Apple Watches, instead of having to settle transactions with cash or their physical cards. By integrating with Apple Pay, Yolt is notably getting closer to serving as a one-stop-shopping solution for its customers’ requirements while making its services more accessible.
Pauline van Brakel, Chief Product Officer at Yolt, stated that the Yolt app has been designed to assist customers with saving while being able to make in-store and online purchases. Brakel added that as some retailers in the UK plan to reopen this week, her company is looking forward to making this process a lot easier by integrating with Apple Pay. This should allow the firm’s customers to take advantage of a “safe, secure and private” way to spend while saving with their Yolt Card using iPhone and Apple Watch, Brakel said.
In addition to having the option to use Apple Pay for in-store purchases, Yolt’s users will be able to use their Apple devices to buy products and services online. Customers will also be able to buy items in apps downloaded via the App Store.
Yolt has added Apple Pay only a few months after the company performed major updates to its app. The Fintech firm had carried out beta testing for a few months before launching the latest version of the app (which was available to iOS users in October 2020).
Yolt has also launched its very first account and contactless payments card, after only serving as a money management service provider. Although the company has an established history as a financial management platform, Yolt had initially offered Open Banking solutions. Yolt was notably the first third-party API call after the introduction of PSD2 in early 2018. This was before branching out into the services it currently offers while maintaining its open banking division, Yolt Technology Services.
Yolt claims around 1.5 million customers who are based in the United Kingdom, France, and Italy.
As reported last year, Yolt had partnered with Raisin in order to provide access to competitive savings accounts in the UK, Italy and France. Yolt users can apply for a Raisin account accessing a range of deposit products, select from competitive Raisin offers and see their deposits, directly within the Yolt app.