Yaspa offers real-time account-to-account payment solutions using open banking technology, enabling businesses to process secure transactions and refunds instantly without the need for cards or apps. By integrating KYC and risk management tools, Yaspa reduces fraud and accelerates customer onboarding, enhancing operational efficiency for businesses across the UK and Europe.
Funding
$1.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GFMVFounders
Product
Problem
Traditional payment methods often involve high transaction fees, slow settlement times, and increased risk of fraud, creating friction for both businesses and consumers. Existing KYC and affordability checks can be cumbersome and time-consuming, leading to delays in customer onboarding and reduced conversion rates.
Solution
Yaspa provides a real-time, account-to-account payment solution powered by open banking, enabling businesses to process secure transactions and payouts instantly without the need for cards, codes, or apps. By leveraging open banking APIs, Yaspa facilitates direct bank payments and withdrawals, reducing transaction costs and accelerating settlement times. The platform integrates KYC, affordability, and risk management tools, streamlining customer onboarding and minimizing fraud. Yaspa's "Intelligent Payments" solution combines Pay by Bank with AI-powered verification and real-time risk assessment, providing actionable intelligence for smarter decisions and stronger compliance.
Target Audience
Yaspa targets businesses across various sectors, including iGaming, eCommerce, ePOS, utilities, charities, and trading platforms, seeking to improve payment processes, reduce fraud, and enhance customer onboarding.
Features
- Instant bank payments and payouts via open banking APIs for real-time transactions
- Account Verification to reduce fraud and streamline KYC processes
- Verification Plus, offering real-time data and insights on customer affordability and risk scoring
- Virtual Accounts for creating on-demand e-money accounts with individual virtual IBANs
- Intelligent Payments, combining Pay by Bank, AI-powered verification, and real-time risk assessment
- Real-time data access on user behavior, financial insights, and fraud indicators via a customizable dashboard
- Support for various industries including iGaming, eCommerce, ePOS, Utilities, Charities, and Trading