News from the Wire

PPS powers Yolt's first card

Wednesday, October 28, 2020 — 08:45:13 (EDT)

London, 28th October 2020: PPS, formerly PrePay Solutions and subsidiary of Edenred, the everyday companion for people at work, today announces its partnership with Yolt, the smart money app, following the inaugural launch of its contactless debit Mastercard.

Following its first step into the payments space with Yolt Pay in 2019, the award-winning fintech is now working with PPS on the launch of its first physical card.

Thanks to PPS’ technology and licensing, Yolt’s product experience is enhanced, equipping customers with an e-money account linked to a PPS powered Mastercard debit card enabling the users to manage and spend money online and instore. Together with PPS, the Yolt app helps people to save on every single purchase with round ups and cashbacks on selected brands.

Born in 2017 out of a simple mission to give everyone the power to be smart with their money, over 1.5 million users have registered with the app to date. Yolt enables customers to bring together all of their accounts in one central place from the likes of American Express, Starling, Barclays and HSBC. By having all accounts in one central place, the app enables smart spending, budget tracking and financial goal setting.

Ray Brash, CEO of PPS, commented on the partnership: “Following the recent launch of Yolt Pay, we’re delighted to support this exciting fintech in the next leg of its evolution, with its first ever card. We look forward to the future of our partnership supporting the company with a roadmap of enhancements and new functionalities.”

Pauline van Brakel, Chief Product Officer, Yolt, added: “We’re incredibly proud of the progression of the Yolt app. Now, more than ever, is a time for people to be spending cautiously and saving where they can, preparing for any uncertainty that may lay ahead of us. We couldn’t have made this launch happen without the help of innovative partners such as PPS, who can improve our customer offering. In the future, we are excited about further enhancing our product by utilising PPS’ platform.”

To find out more about PPS visit: www.pps.edenred.com/

To find out more about Yolt visit: www.yolt.com/

About PPS

PPS, an Edenred subsidiary, is a one-stop-shop for prepaid and fintech programmes. It is a Mastercard Principal Member and an FCA regulated Electronic Money Institution, offering a range of services including processing, UK and SEPA banking solutions, BIN sponsorship, eWallet provision, compliance and fraud services, supply chain management, customer services and end-to-end program design and management.

PPS is the driver behind industry leading Fintech, PayTech, Regtech, incentives, benefits and fuel card programmes which operate across multiple media and form factors, including physical, virtual and NFC. PPS is the leading issuer of Apple, Google and Samsung Pay, with over 200 client programmes across over 30 countries globally.

About Yolt

Launched in 2017, Yolt gives everyone the power to be smart with their money. At the forefront of PSD2 and Open Banking, the smart thinking money app enables users to view their accounts, credit cards, pensions and investments in one place. In the past 2 years, Yolt has grown exponentially, with over one million registered users across the UK, Italy and France and maintains a 4+* rating in the app stores.

Trusted partners enable Yolt users to discover better deals based on their needs from the app. The latest integration with MoneySuperMarket is the first of if its kind, where users can compare and switch energy providers without leaving the Yolt app.

Yolt’s latest offering; Yolt Technology Services unlocks its Open Banking expertise to other organisations through a single and secure API. Managed and maintained by Yolt, this API connects businesses or customers to the main banks across Europe.

As a venture of ING Bank N.V. Yolt has the strength and stability of a corporate, yet thinks and acts in an agile way. To read more about the Yolt journey visit: www.yolt.com/

Follow PPS on Twitter: www.twitter.com/PrePaySolutions Follow Edenred on Twitter: www.twitter.com/Edenred

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Source: Company press release.