UK challenger bank, Starling, has announced a partnership with mobile payment and loyalty platform, Yoyo.
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The latter will tap into Starling’s Open Banking-compliant API to let users link their Starling account to a Yoyo wallet. As a result, when they pay at one of Yoyo’s retail partners using their Starling card, they automatically collect any loyalty points on offer.
Anne Boden, CEO, Staring Bank, says: “The past four months has seen us launch our Marketplace and partner with such an array of innovators in FinTech. Our partnership with Yoyo only serves to reinforce our core vision to empower consumers, reward our customers, and reduce day-to-day burdens of personal finance. Together, we can demonstrate to the industry the importance of Open Banking that puts customers first. We are excited to be leading the changes in the industry ahead of the incoming regulations in the UK and Europe in 2018.”
Alain Falys, CEO and co-founder of Yoyo, comments: “This partnership marks the start of the next phase in our mission to add even more value to the payments process and attach retailer loyalty to the wider banking experience. Our strength has always laid in attracting early adopters – with this latest partnership everyone can benefit from a fully combined payment and rewards experience regardless of how they choose to pay.”