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Open Banking App VibePay Launches in the UK

VibePay, the social payment app allowing users to get paid back by their friends, has launched today to selected members of the Vibe Community.

VibePay is a Payment Initiation Service (PIS), enabling secure direct-from-bank payments via Open Banking technology. In the new consumer app, which is free to download and use, users can create groups for social events and share a unique payment link for friends to pay them back in seconds.

1,000 members of the Vibe Community have now been invited to test the app for the first time, and will be able to leave their feedback in the VibePay Community Forum. 

Recent research shows that 1 in 4 Brits are owed money by their mates, and on average Brits are left £98 out of pocket. 

Luke Massie, CEO and founder of VibePay said:

“The phenomenal support from the Vibe Community shows that we’re onto something great with VibePay. Their input has shaped the product we’re releasing today, and we’re excited to work closely with our users to make VibePay the best payments app out there.”

The VibePay app has been developed with input from the Vibe Community, to help solve a real problem for young people today – the awkwardness around asking friends to pay them back. Recent research shows that 1 in 4 Brits are owed money by their mates, and on average Brits are left £98 out of pocket. 

A bank-agnostic payment gateway

VibePay has been built as an aggregation layer over the Open Banking APIs to create a bank-agnostic payment gateway. Following the consumer app launch, VibePay for Business will launch later this year – allowing consumers to pay direct from their bank when they’re shopping online.

Author

  • Editorial Director of the The Fintech Times

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