Ant International, a digital payment and financial services leader dedicated to building an inclusive and sustainable global commerce ecosystem, is expanding its existing partnership with Yapily, the leading European open banking platform to introduce Europe’s first-ever commercial variable recurring payments (VRPs) for e-commerce via Open Banking on mobile payment platforms.

This new payment method debuts first on HungryPanda, the leading Asian food delivery platform, offering a more convenient and seamless option for customers making mobile payments. This launch includes both commercial VRP “One Click Payment” and standard Open Banking payment “Pay by Bank”, powered by Antom, Ant International’s global merchant payment processing solution.

Starting today, HungryPanda users in the UK can elevate their food delivery experience by placing orders via their mobile devices and seamlessly completing payments directly from their bank accounts. This streamlined payment process not only enhances user satisfaction but also provides merchants with the added benefit of reduced transaction costs.

Implementing open banking changes for mobile payments

The deployment of Open Banking solutions marks the latest development of Ant International’s partnership with Yapily to explore and implement Open Banking technologies on mobile payment platforms. It intends to enable consumers who bank with UK financial institutions to make payments to merchants across the world via Antom, directly from their bank accounts, with a smooth and secure payment experience. The launch will benefit its UK customers, who are mobile-savvy and prefer convenient digital payment options.

This collaboration marks the first step of a wider roll-out of Open Banking technologies to more mobile services. Globally, Antom supports merchants in over 40 countries and provides them with one-stop, vertical-specific digital payment solutions. Open Banking enables UK merchants to benefit from the Antom global digital payment solution using their preferred bank account.

Pietro Candela, Ant International’s Head of Business Development in Europe said: “The UK and Europe is on the front lines of open banking. We’re pleased to continue our collaboration with Yapily to develop payment solutions that bring value and convenience to European consumers and global merchants, including Hungry Panda, and we’re excited to see continued adoption of this technology with our partner merchants as it scales across the platform.”

Stefano Vaccino, CEO and Founder of Yapily said: “We’re delighted to bring the benefits of open banking and commercial VRP to Europe. VRP technology is faster and more secure when making payments, giving an improved experience for both merchants and customers. By innovating finance in this way, we can power a more open and productive economy to the benefit of businesses and consumers. As a London-founded fintech, we’re delighted that the UK is the first country to enable this technology of the future.”

Kelu Liu, CEO and Founder of HungryPanda said: “Our partnership with Ant International enables HungryPanda customers in the UK to order their favourite dishes more conveniently and securely using a preferred payment wallet.”