Yolt tests out payments with UK banks
ING-backed money app Yolt has moved into testing payment initiation services (PIS) with UK banks and launched Yolt Pay Beta.
This latest feature will enable users to initiate payments and move money between other users’ accounts via the app.
Yolt’s UK community can now test payments with six high street banks – Lloyds, Bank of Scotland, Halifax, RBS, Natwest and Ulster Bank – before a full roll-out later this year.
The firm says UK users can do the trial, provide feedback, make suggestions and aid in building and developing the new functionality.
Frank Jan, CEO of Yolt, says the community “shapes every aspect of Yolt” and “together, we will continue to pave the way in open banking and prove what is possible through the power of financial APIs and beyond”.
Since its launch in January 2018, Yolt explains that it is the first third party provider to test this open banking capability with its community following the first PIS payment made with Lloyds in February 2018.
Yolt is keeping busy. Back in January, it unveiled its open beta for all iOS and Android users in both Italy and France.