Highlights:

  • Yolt is a money management app that has allowed its debit-card holders to make payments via Apple Pay.
  • After integration, Yolt is serving as a one-stop shopping solution for its consumer’s needs.
  • The company claims approximately 1.5 million consumers based in the United Kingdom (UK), Italy, and France.

Integration between Yolt and Apple Pay

Yolt is a leading money management app that has allowed its debit-card holders to make payments digitally via Apple Pay.

Now, Yolt’s users can benefit from digital payments through their Apple Watches or iPhones instead of settling transactions with debit cards or cash. The integration of Yolt and Apple Pay made it possible. By integrating with Apple Pay, Yolt serves as a one-stop shopping solution for its consumer’s needs, making its services more accessible.

Expert view

Pauline van Brakel, Chief Product Officer (CPO) at Yolt, commented: “Yolt app has been designed to assist customers with saving while being able to make in-store and online purchases. Brakel added that as some retailers in the UK plan to reopen this week, her company is looking forward to making this process a lot easier by integrating with Apple Pay. This should allow the firm’s customers to take advantage of a “safe, secure and private” way to spend while saving with their Yolt Card using iPhone and Apple Watch.”

Digital payment application

Additionally, with an option to use Apple Pay for in-store purchases, Yolt’s users would be able to use their Apple devices to buy products and services online. Consumers will also get the benefit of purchasing products in apps downloaded using the App Store.

Yolt added Apple Pay a few months ago after the company undertook primary updates to its app. The Fintech firm had performed beta testing before introducing the latest version of the app (that was available to iOS users in October 2020).

After serving as a money management service provider, Yolt introduced its first account and contactless payments card. However, the company has an established history as a financial management platform. Yolt had initially offered Open Banking solutions. After introducing PSD2 in early 2018, Yolt was notably the first third-party API (Application Programming Interface). This status was before it started out offering more services along with maintaining its open banking division, Yolt Technology Services.

The company claims approximately 1.5 million consumers based in the United Kingdom (UK), Italy, and France.

Yolt has teamed up with Raisin, as per last year’s report, to provide access to a competitive savings account in France, UK, and Italy. Yolt users could apply for a Raisin account, accessing a wide array of products, choose from competitive Raisin offers, and see their deposits directly within the Yolt app.