In this blog post, we’ll recap the key insights from the session and explain how our open banking solutions, including Variable Recurring Payments (VRP), are driving efficiency for businesses like Pleo and their customers.
Unlocking Seamless Wallet Top-ups
Pleo, a popular spend management platform, allows businesses to provide company cards to employees for work-related expenses. However, ensuring the wallet is always topped up with sufficient funds has traditionally been a manual, time-consuming process. This type of avoidable bottleneck is what open banking was designed to solve, providing a faster, frictionless payment experience.
Integrating Yapily’s open banking API, Pleo has now transformed its wallet top-up process. Businesses can top up their Pleo wallets instantly, ensuring their employees always have the funds they need. During the webinar, Clara Schindler from Pleo described how this innovation has removed the delays and inefficiencies associated with traditional methods like direct debits and wire transfers, which could take days.
Yapily can offer this high speed option as it connects businesses to the Faster Payments real-time payment rail. As such, wallet top-ups can now be completed within minutes or even seconds, offering businesses better control over their cash flow and operations.
Revolutionising Wallet Top-ups with VRP
One of the key innovations we discussed during the webinar was the Variable Recurring Payments (VRP) feature. VRP allows businesses to automate their wallet top-ups, removing the need for manual intervention entirely. If a Pleo wallet balance drops below a certain threshold, VRP automatically transfers the necessary funds from the business’s bank account to the Pleo wallet in real-time.
Serena, Yapily’s product lead for VRP, highlighted how this technology is revolutionising liquidity management for businesses. For example, a marketing agency using Pleo for ad spend can rely on VRP to ensure their funds are topped up automatically, without worrying about potential delays that could disrupt their campaigns.
Audience Poll Insights
During the webinar, we asked our audience about their experience with open banking and which use cases they find most relevant for their businesses. The results revealed exciting trends in the adoption of open banking solutions:
Is your business currently using open banking?
- Yes: 60%
- No, I am keen to start: 28%
- No, I am still learning about it: 12%
It’s clear that while many businesses have already integrated open banking into their operations, others are keen to explore its potential.
As for which open banking products or use cases were most relevant for their business needs, here’s what we found:
- Wallet top-ups (Payments / VRP): 31%
- Bulk Payments: 21%
- Account Information Services (AIS): 21%
- Variable Recurring Payments (VRP): 16%
- Data Enrichment - Transaction Categorisation: 11%
These results highlight the growing demand for automated payment solutions, particularly in the area of wallet top-ups and VRP, which were the most popular use cases. It’s clear that businesses are increasingly turning to open banking to streamline their operations and improve cash flow management.
How Yapily’s Open Banking Solutions Drive Value
Pleo’s story is just one example of how Yapily’s open banking API can be leveraged to streamline processes for businesses. However, open banking’s benefits don’t end there, and are relevant to many companies across all sectors:
Real-time visibility: Open banking gives businesses real-time access to their bank account balances, helping them plan and manage liquidity more effectively.
Enhanced customer experience: By reducing delays and simplifying the process, open banking allows businesses to focus on what matters most—growing their operations.
Instant, low fee A2A Payments: Provide instant payment initiation services from one account to another. No middlemen, no hidden fees, limitless possibilities.
Get Started with Yapily Today
Open banking is no longer a future concept; it’s here now, making financial processes faster, smarter, and more secure. At Yapily, we are committed to helping businesses like Pleo unlock the full potential of open banking to improve efficiency and financial management.
Whether you’re looking to implement instant wallet top-ups, Variable Recurring Payments, or any other open banking solution, Yapily has the tools to help you succeed. Join the growing number of businesses that are already benefiting from seamless integrations, automated payments, and real-time financial insights.
Ready to get started? Reach out to Yapily today to explore how our open banking solutions can transform your business.
For more information, visit our resource centre or watch the full webinar recording here.
