Yolt announced on Monday it has begun beta testing for its smart thinking money app, Yolt Pay. Yolt reported that in this early stage of Yolt Pay, users be able to initiate payments on the Yolt platform.
“We know it’s not perfect, but we wanted to get a version out to you, our community, in these early stages, to make sure we’re building the payment feature you want. We’ve worked together this way from the beginning, and we couldn’t be prouder of the app we’ve built!”
Through beta testing, Yolt is focusing on two “core journeys,” which are the following:
- Moving Money between accounts
- Settling up with friends and family
Yolt also revealed:
“Throughout 2018 we worked hard – with a lot of help from our vocal community of testers – to connect all major high street banks to Yolt via their open APIs – the first third party provider to do so! These API connections makes it easier than ever to collaborate with other financial services to bring you new and exciting features. Now, we’re taking the next big step in the Open Banking journey with the launch of our Payment Initiation Service, that’s the tech that drives Yolt Pay!”
Yolt noted that there are currently six banks that are supporting its Opening Banking process:
- Lloyds
- Bank of Scotland
- Halifax
- RBS
- Natwest
- Ulster Bank
Yolt went on to add:
“Yolt Pay may be powered by Open Banking, but it’s built with you! As we’ve said, we’re launching Yolt Pay in Beta so that we can work with you to make it the very best it can be. We spent the last year collecting your feedback through surveys, twitter polls, meetups, and testing a very early alpha version. That’s how we got to where we are now, and it’s time to open things up to even more people!”
As previously reported, Yolt is on a mission to innovate and collaborate in order to give everyone the “power to be smart with their money.” Since launching, the company has extended into Italy and France.