Global payment gateway BlueSnap announced today that Yoyo, a mobile marketing and payments platform, has selected BlueSnap to power its international transactions.
Yoyo made the decisions to switch from another payment gateway to BlueSnap for its more comprehensive selection of APIs and stronger cross-border acquiring capabilities.
Launched in January 2014 in London, Yoyo is the only platform that seamlessly blends payments, loyalty and discovery to create better relationships between retailers and consumers. The Yoyo app is now available to 125,000 university students and faculty across the UK and processes over 50,000 transactions per month. With monthly transactions growing at 20% and retailers converting 12% to 15% of cash flow into electronic payments within just weeks of adopting Yoyo, the platform is seeing fast adoption and strong feedback from users.
With plans to expand throughout Europe and to the U.S., Yoyo needed a payments partner that could facilitate seamless entry into new markets. Yoyo made the decision to switch to BlueSnap.
"Yoyo is joining forces with BlueSnap because we needed a partner that is completely aligned with our business objectives," said Alain Falys, CEO of Yoyo. "BlueSnap can seamlessly assist with our international expansion strategy, with a technology that is easy to support and fully integrated with our own technology stack."
BlueSnap's comprehensive API library will make it easy for Yoyo to offer mobile payments in 180 countries, 29 languages and 60 currencies with 110 different payment options. By providing multiple acquirers in each market, BlueSnap also offers higher conversion rates than Yoyo's previous payment gateway.
"By combining payments, loyalty and discovery in a single platform, Yoyo is taking the lead in the mobile payment space," said Ralph Dangelmaier, CEO of BlueSnap. "We're proud that Yoyo has made the switch to BlueSnap, and we look forward to supporting their success."