Open Banking platform Yapily is partnering with B2B Buy Now, Pay Later (BNPL) start-up Two.
The partnership aims to target the “€400bn SME finance gap” in Europe and will enable merchants to offer BNPL services to their business customers at checkout.
Using Yapily data, when a business chooses to pay with Two at an online checkout, the BNPL firm can retrieve the buyer’s account information to support its real-time ID verification checks.
When approved, the business customer then has the option to pay up to 90 days after the purchase is made.
“It's great to see yet another innovative FinTech company like Two challenging the status quo to deliver greater flexibility for businesses across Europe,” said Stefano Vaccino, founder and chief executive, Yapily. “This is a brilliant example of how Open Banking can help cash-strapped businesses at a time when they need it most.”
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