Ant International is expanding its existing partnership with Yapily to introduce Europe’s first-ever commercial variable recurring payments (VRPs) for e-commerce via Open Banking on mobile payment platforms.

This new payment method debuts first on HungryPanda, the Asian food delivery platform, offering a convenient and seamless option for customers making mobile payments. This launch includes both commercial VRP “One Click Payment” and standard Open Banking payment “Pay by Bank”, powered by Antom, Ant International’s global merchant payment processing solution.

HungryPanda users in the UK can elevate their food delivery experience by placing orders via their mobile devices and seamlessly completing payments directly from their bank accounts. This streamlined payment process enhances user satisfaction and provides merchants with the added benefit of reduced transaction costs.

Ant International is exploring and implementing Open Banking

The deployment of Open Banking solutions marks the latest development of Ant International’s partnership with Yapily to explore and implement Open Banking technologies on mobile payment platforms. It intends to enable consumers who bank with UK financial institutions to make payments to merchants across the world via Antom, directly from their bank accounts, with a smooth and secure payment experience. The launch will benefit its UK customers, who are mobile-savvy and prefer convenient digital payment options.

Pietro Candela, Ant International’s Head of Business Development in Europe said: “The UK and Europe is on the front lines of open banking. We’re pleased to continue our collaboration with Yapily to develop payment solutions which bring value and convenience to European consumers and global merchants, including Hungry Panda, and we’re excited to see continued adoption of this technology with our partner merchants as it scales across the platform.”

Stefano Vaccino, CEO and Founder of Yapily, commented: “We’re delighted to bring the benefits of open banking and commercial VRP to Europe. VRP technology is faster and more secure when making payments, giving an improved experience for both merchants and customers. By innovating finance in this way, we can power a more open and productive economy to the benefit of businesses and consumers.”

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By GlobalData