VibePay recently announced that it is continuing on its ambitious path of growth, with the integration of more UK banks and payment providers via open banking, and a business account function in its newly launched social payments app.
With 24 banks now integrated with the app, including new additions Starling, Capital One and Tesco, VibePay is aiming to boost engagement with its 50,000 users and drive more sign-ups amongst its Gen Z audience.
The addition of business accounts for the first time will open up VibePay to a small business audience and appeal to the many Gen Z-ers who earn money from selling on their social channels or platforms like Depop. This functionality will enable them to make and receive payments with no fees and provide instant access to funds and a transaction dashboard to track their payments.
The new app will see further functionality added over the next few weeks including:
- Vibe.me links: giving all users a personalised payment URL
- Vibe ID: an ‘online passport’ allowing users to link their bank account and seamlessly transact and interact with brands across the web
- QR codes: to scan for instant payments
- Vibe Shop: a new way to buy Vibe merchandise via pay with bank functionality
- Integration with VibeTickets: allowing its 100,000 users to make payments via VibePay with no fees
Luke Massie, founder of VibePay, said: “This new app is the culmination of months of work – we’ve taken invaluable feedback from the VibePay community and looked at how we can make the app bigger and better so it’s easier, more fun and an indispensable tool for our users’ lives.
“We’re built for Gen Z by Gen Z which means we’re able to reach this critical audience with a unique solution built on their lives. We can’t wait to roll out the new functionality over the coming weeks and see our community continue to grow. We’ve already got our sights set on the next phase of growth for 2020 and beyond.
“The fact that the new and improved app is integrated with more banks means that we can accommodate and engage even more users going forwards. Through a unified ID, consumers link their bank accounts, allowing them to pay and get paid through the app directly into their bank account with no middlemen, fees or delays. We will also give Gen Z in due course a place to see activity from their friends and from brands they transact and connect with – it’s an activity feed for their lives. The new functionality like QR codes and personalised vibe.me links will make payments even easier for our Gen Z users and give them an alternative to solutions offered by more traditional providers, which we have built specifically for them and how they live and transact online – from side hustles to Netflix subscriptions.”