Mastercard is launching a partnership with UK fintech Yoyo Wallet; Yoyo is a mobile wallet that can be used at point of sale to earn rewards at a variety of UK retailers; Mastercard’s Pay by Bank app will connect with Yoyo’s API alongside Mastercard’s Vocalink platform to let users purchase through their own banking apps without the need for passwords; with the Yoyo partnership Pay by Bank will now be able to provide loyalty services for merchants. Michael Rolph, CEO of Yoyo Wallet said, “The combined Yoyo and Pay by Bank app proposition will provide both customers and retailers with added speed and security at the point-of-sale, as well as an omnichannel payment and loyalty experience that is unrivaled in the market.” Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.