PPS to power smart money app Yolt’s first physical card

By Megha Bhattacharya

PPS, previously PrePay Solutions and subsidiary of Edendred, today announced its partnership with smart money app, Yolt in a bid to support the latter in launching its first physical card. Yolt will be leveraging PPS’ technology and licensing for enhancing its product experience as well as offering customers with an e-money account linked to PPS powered Mastercard debit card.

Ray Brash, CEO of PPS, commented on the partnership, “Following the recent launch of Yolt Pay, we’re delighted to support this exciting fintech in the next leg of its evolution, with its first-ever card. We look forward to the future of our partnership supporting the company with a roadmap of enhancements and new functionalities.”

Recently, Yolt announced that it is heading into a beta period. This will allow the company to test a new update of its smart spending and savings-focused application. Yolt stated that it would be testing a series of new and free features for catering to the shift in consumers’ financial priorities and help users during the pandemic.

Pauline van Brakel, Chief Product Officer, Yolt, added, “We’re incredibly proud of the progression of the Yolt app. Now, more than ever, is a time for people to be spending cautiously and saving where they can, preparing for any uncertainty that may lay ahead of us. We couldn’t have made this launch happen without the help of innovative partners such as PPS, who can improve our customer offering. In the future, we are excited about further enhancing our product by utilising PPS’ platform.”

PPS, this month, announced its partnership with FinTech Vybe. Vybe will utilise PPS’ e-money licenses and tech infrastructure for rolling out PPS-powered Mastercard virtual card as standard. The FinTech’s users can select a physical, contactless card, that can be used for POS payments and ATM withdrawals anywhere that accepts Mastercard.