Press Release

Open Payments and Youcal enter into Open Banking partnership

By November 17, 2020 February 15th, 2021 No Comments

Stockholm, 17 November 2020

The innovative fintech companies Youcal and Open Payments enter into a partnership of PSD2 based Open Banking services. The collaboration encompasses API access to all major Swedish banks, with more Nordic banks in the pipeline.

Youcal has a team of industry experts from companies like Tradera, Payson and Trustly. Their vision is delivering a platform for payments services where business logic and not technology choices, will determine application and development opportunities. The collaboration with Open Payments enables Youcal customers to access Open Payment’s portfolio of payment and information services (PIS and AIS).

“Our customers know that we often think outside the box when it comes to maximising the benefits of payment and information solutions in the marketplace. If we can improve our customers’ combined payment options and create new transactional flows, we will do that. The new collaboration with Open Payments will be very important to enable this going forward” says Petter Sehlin, Founder of Youcal.

The Youcal customer base has grown substantially during the past year. The company has over 3000 service providers connected to the platform and a variety of marketplaces in its portfolio.

Open Payments is a Swedish start-up and one of the pioneers within PSD2 and Open Banking. They provide a groundbreaking platform that gives access to different types of financial services through a unique and secure API. Open Payments recently closed an investment round of 3MEUR from investors such as Industrifonden.

“We look forward to a long term collaboration with Youcal – a company, just like OpenPayments, that is driven by innovation. This is a very exciting collaboration which is the beginning of something very big. Together we will maximise customer value and improve payments experiences through the openness and flexibility that we offer in our Open Banking platform” says Louise Brandt, CCO and Co-founder of Open Payments.

The partnership with Open Payments enables Youcal customers to access a variety of financial information and payment services. Both parties are regulated in accordance with PSD2 with required permissions for risk management and compliance regulations. “Innovative payment flows are great, but they can never be implemented at the expense of increased risk” says Petter Sehlin, Founder of Youcal.

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About Youcal

Youcal was founded in 2017 and is an innovative Nordic Payments platform.
The company enables service providers and marketplaces to customise payment solutions based on business logic, not technology choices.
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About Open Payments Europe

Open Payments Europe is a Swedish venture capital funded fintech company that, through its unique platform for developers and third-party providers, offers a cutting edge “Platform as a Service” (PaaS) infrastructure that is required for Open Banking to become a reality. Founded in 2017, and with offices in Stockholm, Open Payments aim to become the hub of the new ecosystem for Open Banking.
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