Kayl is a mobile app that helps users pay off credit‑card debt by automating small, regular payments. It offers three repayment methods—rounding up spare change, doubling it, or using a Smart Pay algorithm—to match what users can afford, and gamifies progress with habit‑based goals and badges. The service connects securely to bank accounts via UK Open Banking, providing encrypted, real‑time transaction data and a simplified one‑page statement view.
Funding
Funding not disclosed
Founders
Product
Problem
Many credit‑card holders struggle to reduce debt because making regular payments requires discipline and effort, and the complexity of statements makes it hard to track progress.
Solution
Kayl is a mobile app that automates small, recurring payments toward credit‑card balances. Users can round up spare change, double the rounded amount, or let the Smart Pay engine calculate an affordable contribution. The app consolidates multiple card statements into a single, easy‑to‑read page and uses gamified goals and badge rewards to keep users motivated. All data connections and transactions are protected with bank‑level encryption and comply with UK Open Banking standards, ensuring secure access to financial information.
Target Audience
Kayl targets credit‑card users who want a low‑effort, secure way to accelerate debt repayment, particularly those comfortable using mobile banking apps.
Features
- Automatic payment options: round‑up, double‑up, or Smart Pay‑determined amounts
- One‑page visual summary of all linked credit‑card statements for clear financial insight
- Gamification system with achievable goals, badges, and rewards to encourage consistent repayment
- Direct integration with UK Open Banking for secure, real‑time access to account data
- Bank‑level encryption ensures all personal and transaction data remain private and protected
- Payments are made directly to linked credit cards; funds never leave the user’s bank account