Ant International, a digital payment and financial services leader dedicated to building an inclusive and sustainable global commerce ecosystem, is expanding its existing partnership with Yapily, the European open banking platform to introduce Europe’s first-ever commercial variable recurring payments (VRPs) for e-commerce via Open Banking on mobile payment platforms.
This new payment method “debuts first on HungryPanda, the Asian food delivery platform, offering a more convenient and seamless option for customers making mobile payments.”
This launch includes both commercial VRP “One Click Payment” and standard Open Banking payment “Pay by Bank”, powered by Antom, Ant International’s global merchant payment processing solution.
Starting today, HungryPanda users in the UK can “elevate their food delivery experience by placing orders via their mobile devices and seamlessly completing payments directly from their bank accounts.”
This streamlined payment process not only “enhances user satisfaction but also provides merchants with the added benefit of reduced transaction costs.”
The deployment of Open Banking solutions “marks the latest development of Ant International’s partnership with Yapily to explore and implement Open Banking technologies on mobile payment platforms.”
It intends to enable consumers who bank “with UK financial institutions to make payments to merchants across the world via Antom, directly from their bank accounts, with a smooth and secure payment experience.”
The launch will benefit its UK customers, who “are mobile-savvy and prefer convenient digital payment options.”
This collaboration marks the first step of “a wider roll-out of Open Banking technologies to more mobile services.”
Globally, Antom supports merchants in “over 40 countries and provides them with a one-stop, vertical-specific digital payment solutions. Open Banking enables UK merchants to benefit from the Antom global digital payment solution using their preferred bank account.”
Pietro Candela, Ant International’s Head of Business Development in Europe, said their collaboration will bring value to European consumers and global merchants.
CEO and Founder of Yapily Stefano Vaccino said:
“VRP technology is faster and more secure when making payments, giving an improved experience for both merchants and customers. By innovating finance in this way, we can power a more open and productive economy to the benefit of businesses and consumers. As a London-founded fintech, we’re delighted that the UK is the first country to enable this technology of the future.”
Kelu Liu, CEO and Founder of HungryPanda, said:
“Our partnership with Ant International enables HungryPanda customers in the UK to order their favourite dishes more conveniently and securely using a preferred payment wallet.”
As noted in the update, Yapily is Europe’s open banking infrastructure platform “solving a fundamental problem in financial services today: 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.”