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Oslo's Two taps Yapily to offer BNPL services to UK SMEs

Oslo's Two taps Yapily to offer BNPL services to UK SMEs

Open banking platform Yapily has partnered with B2B buy now, pay later start-up Two, enabling merchants to offer BNPL services to their business customers instantly at checkout.

The Norwegian BNPL player intends to embed open banking data from Yapily into the checkout process for its e-commerce business customers. Under the collaboration, Two will be able to instantly retrieve the buyer’s account information to support its real-time ID verification checks. This includes fetching user information such as name and date of birth, as well as transaction data to support fraud analysis.

Once approved, the business customer then has the option to pay up to 90 days after the purchase is made.

Deane Barton, head of product at Two, says: “Many SMEs across Europe are in recovery mode after spending nearly two years dealing with an unpredictable economic climate. With Yapily and open banking, we are able to provide a safer, cheaper, and easier financial bridge for businesses that are ready to move forward. The intersection between BNPL and open banking is an exciting place to be. Together, we are shaping the future of financial services as we know it.”

The partnership will see open banking rolled out to Two customers across the UK, with more European markets to follow. It follows the news that Yapily has agreed to acquire German open banking outfit FinAPI to extend its outreach acroos Europe.

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