Yapily launches group payments service with Comma for SMEs in UK


Yapily, the leading provider of Open Banking infrastructure in the United Kingdom, announced the launch of its new Open Banking group payment service, with Comma, the London-based SME payment platform, is already present and benefiting from service in the UK.

Working in close partnership with Comma, Yapily has simplified the complex process of bulk payments – under Open Banking – in the UK. The proposal provides clients like Comma with the API connection they need to create a reliable, secure and scalable bulk payment function for their accounting, payroll and accountant clients.

Until now, bulk payments in the UK have only been available to medium and large businesses with corporate bank accounts. As such, many SMEs have been forced to rely on legacy and inefficient payment processes, which has caused significant headaches and problems when it comes to paying staff, vendors. and customers every time.

By leveraging Yapily’s bulk payment offering, Comma’s accountants and bookkeepers can create and share payment runs with customers; who in turn can pay bills, taxes and salaries in bulk on their phone or computer, with a few clicks from their own bank account. This enables accountants and bookkeepers to offer new payment services to clients, which they have been asked to do for many years. Operational efficiency is a critical benefit as SMEs seek to rebuild after the pandemic.

Tom Beckenham, CEO and Founder of Comma, said: “Comma was developed from a passion to help small businesses. Paying for anything manually is a tedious process and often affects the small business owner. By working closely and transparently with Yapily, we are now able to offer our customers a magical payment experience. This gives them time to focus on growing their business. We look forward to continuing our collaborative partnership with Yapily.

Robust mass payment structure

Leveraging its direct and in-depth relationships with many of the UK’s largest banks, Yapily is the first open banking infrastructure provider to test and release bulk payment functionality for 7 UK financial institutions.

FinTech worked with Comma and UK banks to highlight inconsistencies in behavior, bugs, and instances where API documentation does not reflect what’s in production to kickstart the most bulk payments offering. technically robust in the market. The work performed by Yapily & Comma reduces the risk of clients being caught up in inconsistencies and ensures the success of bulk payments at all levels.

Stefano Vaccino, CEO of Yapily, said: “We have seen a real and growing demand from our customers for bulk payment capabilities. We are proud to say that after hard work we have created a reliable bulk payment functionality for our UK customers. We have been fortunate to work with pioneering clients like Comma who have helped us test the functionality so that we can provide the most robust service possible.

“What may seem on the surface to be a simple implementation of the required endpoints has been a huge team effort and a great learning curve for us as an Open Banking infrastructure provider. We are already working on its deployment in Europe and we are excited to work with Comma and other customers to develop even more.

Yapily’s mass payment service will be rolled out to customers in Germany in the coming months and will look to fuel new mass payment proposals with more European customers in the future.

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