Digital banking startup Yapeal has chosen card-issuing platform Marqeta to help energise its digital wallet.
The Marqeta platform facilitates the use of digital wallets for storing tokenised cards and making payments.
Utilising Marqeta’s instant card issuing capabilities, Yapeal’s digital wallet will offer a range of personal finance features, including the ability to issue a mobile ready debit card that can connect to mobile payment apps, starting with Google Pay, and Apple Pay and Samsung Pay coming soon.
Yapeal will provide access to multiple currencies and help its customers manage money through budgeting tools.
“Our customers can now set up accounts in just minutes”
“With the help of Marqeta, our customers can now set up an account and begin using their debit cards to shop online in just minutes. The Swiss banking sector has long been lagging behind other areas,” said Daniel Capraro, Co-Founder and Chief Product Officer of Yapeal.
Yapeal says it has been able to significantly reduce the monthly subscription cost all Swiss consumers pay for their bank accounts.
Its digital wallet bundle will include access to a full Swiss current account, a Visa debit card, mobile payments and additional features of the wallet – including online card control, saving targets and even access to expert advice.
Marqeta will be pivotal in enabling Yapeal’s Mobile Wallet functionality with support for Google Pay, and Apple Pay and Samsung Pay in the near future, as it seamlessly provides a token to the digital wallet.
“The Marqeta platform has been at the core of creating our current card offering.”
The process of setting up tokenised payment capabilities with other providers would usually have taken over six months with a team of around sixty people.
With Marqeta, Yapeal was able to implement tokenisation in approximately one month with just one developer spending a fraction of their time on the project.
“The Marqeta platform has been at the core of creating our current card offering, the most prominent feature in our portfolio,” said Thomas Hilgendorff, CEO of Yapeal.