Yapily and Ordo collaborate in Covid-19 Fintech tie-up

Source: Yapily

Leading enterprise connectivity platform Yapily has announced it is working with payments company Ordo, to power Ordo’s 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’s 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’s 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’ account information and initiate payments from their bank accounts, using only an email address or mobile number. Yapily connects to their clients’ 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 ‘smart request’ 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’s 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 said, “Ordo’s 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’re delighted to be helping them to deliver the service. 

“Open 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’s inspirational to see volunteers come together to support the more vulnerable and we’re proud that our open banking API is helping to simplify and protect transactions between customers.”