UK FinTech VibePay enhances Open Banking services for users

By Megha Bhattacharya

UK-based open banking service provider, VibePay today announced that it will be bringing AISP and PISP together for enabling customers to connect all of their bank accounts to the app. This will allow them to view all of their balances, transactions and make payments in one place, irrespective of their banks.

Luke Massie, CEO of VibePay, said, “For the first time on the app we are making use of AISP and bringing this technology alongside our payments functionality. This is a significant step on our mission to drive the adoption of Open Banking and an example of how our work is bringing this technology to life, whilst delivering tangible benefits to consumers. We want to be the go-to brand for consumers; they come to us and get all of the information they need on their finances.”

According to VibePay, its users can now connect their UK bank accounts to the app, view their latest balances and transactions, receive push notifications to get updates on payments as well as take control of regular direct debits.

Massie added, “We’ve seen China and the US lead the way with WeChat and CashApp, yet consumers in Europe are still using outdated methods of logging into multiple accounts to view balances and make transactions. We have been crying out for similar super apps which extend into our everyday lives; VibePay is Europe’s answer to this.”

Recently, VibePay announced a partnership with StreamElements to power instant payments and transform processing of tips. VibePay’s integration will enable gamers to instantly send and receive money from viewers and subscribers, directly from account to account for free. The FinTech is also launching its affiliate programme, which rewards streamers for connecting their viewers to VibePay. This includes referral rewards, sponsored giveaways and competitions. The company also announced new integrations with more UK banks and payment providers along with the launch of a business account function in its social payments app.