Why should I pay with Yaspa?
Making a payment with Yaspa via open banking is simple, fast and reduces fraud. Payments take seconds (not days) with no need for apps, cards or codes. Read on to find out why…
When it comes to making a payment online, whether it’s for those new shoes you’ve been eyeing up or that much-needed holiday, it can be overwhelming. With so many options at checkout, it may feel easier to just go with what you know and trust - even if that means going in search of your card and typing out impossible-to-remember numbers, or hunting for your phone and a signal to get a one-time code that always expires too soon…
But are we all missing a trick here? Checkout processes are getting more of a faff in an effort to keep them secure. That’s the right thing to do, but paying with a card can increasingly become a headache. With open banking, there’s an easier, safer way to pay.*
What is Yaspa and how does it work?
Yaspa is a cardless payment platform which, through the power of open banking, allows you make an instant payment using any of your banks’ accounts directly to the account of the business you’re paying, typically with your mobile phone*.
Yaspa just kicks off the payment, telling your bank exactly where to pay and how much money to send, and asking your bank to get you to authorise it. All data is pre-filled so you don’t need to type anything; you don’t need any extra apps or codes; and your money is sent immediately - so no waiting around for money to leave your account, helping you to better manage your cash flow.
But it’s much easier to understand once you’ve seen it in action:
Simple, isn’t it?
Quick, simple and frictionless. That being said, there’s a lot that’s going on behind the scenes in this process, so let’s break it down further.
Why should I pay with Yaspa?
You don’t need a debit or credit card
Simply by clicking the Yaspa payment link, you can pay anywhere that accepts Yaspa, whether you're at home or on the go. You won't have to worry about locating your payment card or entering incorrect information, as the entire process is cardless. This results in a speedy payment process that's 36x faster than traditional card payments.
Reduced risk of fraud
Did you know that a typical card payment involves at least four intermediaries when you pay a merchant? With Yaspa your money goes from one account to another, cutting out the middlemen (and risk of interception). Yaspa also reduces the likelihood of fraudulent transactions because card details are not stored and the process uses your bank's identification process. This is because numerous security measures and protocols are in place to safeguard your information, making bank authentication one of the safest processes available.
It’s a delight to use
We’re obsessed with user experience (UX). We continually test the language and user journey of our payments to ensure they feel seamless and minimise basket abandonment. And our laser-focus on UX is paying off - we’ve seen our customer’s conversion rates double from 35% to 70%.
Pay With Yaspa: Simplifying the way we pay
So, that’s Yaspa in a nutshell. Hopefully, you’ll give us a try when you’re next shopping for trainers or groceries and you see our logo at checkout. And if you can’t see us yet on your favourite websites, let us know and we’ll get in touch!
And if you’re a merchant looking to offer your customers a better way to pay, see it for yourself and try a payment by making a £1 donation to Shelter here, and for a full demo or to talk to us about the options, contact us here.
* Who are we to talk? Yaspa is an award-winning cardless payment platform, started by former WorldPay CTO, James Neville. In the past few years, we’ve grown from a fledgling start-up to a competitive player in the payments space. Why is this? The simplicity and reliability of the platform for starters. We have a team dedicated to creating the best user experience, in order to - frankly - ensure you don’t have to give it a moment’s thought without compromising peace of mind.
For the merchants you’re spending your money with, we have a range of benefits including easy implementation, reduced fraud thanks to built-in bank account verification (which means you can trust them and they can trust you) and instant settlement - so no friction, meaning less cart abandonment.
** Other devices are also available! You can pay using open banking via your web browser too, but mobile is by far the easiest way.
This article is a revision of one published in March 2022.