LONDON—VibePay here has been given the green light from the U.K. Financial Conduct Authority to provide direct-to-bank payments using open banking.
The first product to market will be a consumer app launching in September 2019, allowing friends to socially plan and pay in groups, BankingTech reported.
“The VibePay app makes it easier for groups of friends to plan and pay for their social activities. It takes the pain out of collecting council tax from flatmates and planning holidays with friends,” said Luke Massie, CEO at VibePay.
VibePay will also be introducing a B2B solution, allowing consumers to pay direct from their bank when they’re shopping online, BankingTech said.