Leading enterprise connectivity platform Yapily has announced it is working with payments company Ordo, to power Ordo鈥檚 new payments service. The platform, which launched at the beginning of April and provides users with simple, swift and secure invoicing, tracking and payments, has launched with its Neighbour2Neighbour initiative – helping small businesses, volunteers and their neighbours during the COVID-19 crisis.
Ordo鈥檚 new service supports volunteers, friends or family who are running errands, such as collecting and paying for shopping or essential items, on behalf of critical workers and those self-isolating who are unable to make it to the shops themselves. Currently, volunteers either have to share confidential details with strangers to receive payments, or they have to share physical notes and coins between one another, which presents a potential infection risk.
Ordo鈥檚 Neighbour2Neighbour initiative ensures volunteers can instantly request and receive payments digitally from those who have received help. Through its secure and scalable open banking API, Yapily enables Ordo to access its users鈥� account information and initiate payments from their bank accounts, using only an email address or mobile number. Yapily connects to their clients鈥� bank accounts, allowing them to focus on delivering faster access to financial services, while Yapily manages the seamless connectivity behind the scenes.
The service works by the person needing to be paid back, sending a 鈥榮mart request鈥� for payment to the person who needs to pay – for example, for money owed for shopping done for a self-isolating neighbour. The service then tracks payments for both parties so everyone can see what鈥檚 been paid when and by whom.
Ordo also recognises times are tough for small businesses too, and they are extending their free trial bundles to businesses to help keep them going during COVID-19.
Stefano Vaccino, CEO at Yapily聽said, 鈥淥rdo鈥檚 new Neighbour2Neighbour service is a simple and effective solution to a sad situation within our communities – helping people pay for and share money. It epitomises the power of open banking for good, for both our society and our economy, and we鈥檙e delighted to be helping them to deliver the service.
鈥淥pen banking means payments can be made for a fraction of the cost, which for many businesses who are experiencing challenging times, is a crucial cost-saving. It鈥檚 inspirational to see volunteers come together to support the more vulnerable and we鈥檙e proud that our open banking API is helping to simplify and protect transactions between customers.鈥�
Craig Tillotson, CEO at Ordo聽said 鈥漁ur partnership with Yapily has allowed us to launch with a broad range of banks, making the Ordo service even more attractive to our users at this difficult time.聽 Yapily鈥檚 expertise in open banking, and our own background in payments services and Faster Payments means we鈥檝e got a service that volunteers and small businesses can use today, confident that we will deliver them simple, swift and secure payments鈥�
Yapily鈥檚聽 proprietary open API enables companies to access the financial information needed to meet rising customer expectations in banking, lending, payments, accounting and money management. It has Fortune 500 companies and fast growth fintechs as clients, including Intuit QuickBooks.
