Denmark’s Openpay teams up with Yapily for cross-border payments

Danish fintech Openpay has partnered with Open Banking API provider Yapily to facilitate cross-border, peer-to-peer money transfers in the Nordics.

The Openpay app allows users to execute immediate, fee-free money transfers without caps on transaction volumes, and provides expense sharing and settlement functionality.

The service will initially be available to account holders in Denmark, but will be rolled out to Sweden, Norway, the UK and Germany later this year.

Yapily’s Lisa Gutu

The app currently integrates with 23 banks, including Danske Bank, Nykredit, and Jyske Bank.

Through the partnership, Yapily will enable Openpay to connect to more than 2,000 banks across 19 European countries.

Aske Behrsin, chief executive officer of Openpay, said he launched the Openpay app following MobilePay’s decision to discontinue WeShare, an expense-sharing app with 1.2 million users in Denmark.

MobilePay is a mobile payment app available in Denmark, Greenland and Finland.

“Since then, we have grown steadily, reaching 7,500 users even before our official launch,” Behrsin said.

“As we approach the season of Julefrokost and big Christmas gatherings, our app becomes particularly useful for those looking to effortlessly manage shared expenses.”

Behrsin has also revealed plans to launch a debit card service in 2024 and to introduce merchant services thereafter.

“Yapily’s vision is to create better, fairer financial services and Openpay embodies this sentiment with their ambition to provide a true cross-border P2P payment experience. We are looking forward to supporting their growth plans as they expand across Europe,” added Lisa Gutu, vice president Europe at Yapily.

Gutu was appointed earlier this year to help grow Yapily’s customer base in key European markets, including Germany, France, Italy, Spain, the Nordics, and Netherlands.

She is also responsible for driving adoption in newer markets, such as Portugal and the Baltics.