With the help of Marqeta’s modern card issuing platform, YAPEAL customers can set up a full Swiss current account in just ten minutes
Digital fintech start-up YAPEAL has launched a new, innovative digital wallet, powered by Marqeta modern card issuing platform. Having received the first ever fintech licence in Switzerland from FINMA, YAPEAL will provide customers with a full Swiss current account and a mobile-ready Visa debit card in just ten minutes, a process that would usually take a week. Utilising Marqeta’s instant card issuing capabilities, the digital wallet will offer a range of personal finance features, including the ability to issue a mobile ready debit card that can connect to mobile payment apps, starting with Google Pay, and Apple Pay and Samsung Pay coming soon. YAPEAL will help its customers, Yapsters, to intelligently manage money through budgeting tools and provide access to multiple currencies.
“The Marqeta platform has been at the core of creating our current card offering, the most prominent feature in our portfolio”
“Taking a week to be able to open a bank account and receive a debit card is just too long in today’s digital world. With the help of Marqeta, our customers can now set up an account and begin using their debit cards to shop online in just minutes. The Swiss banking sector has long been lagging behind other areas; banking innovations haven’t kept pace with the infrastructure in other industries, like leisure and retail. This is the gap that we are looking to close with our new, disruptive digital wallet,” said Daniel Capraro, Co-Founder and Chief Product Officer, YAPEAL. “Marqeta has been central to us achieving this goal, with a modern payments platform and a shared vision to redefine financial services. With Marqeta, we created the entire offering process in two and a half months, one that would have taken eighteen months with other providers. We’re thrilled to be bringing this speed to the Swiss market and, looking to the future, hope to do the same internationally.”
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YAPEAL has been able to significantly reduce the monthly subscription cost all Swiss consumers pay for their bank accounts. Its digital wallet bundle will include access to a full Swiss current account, a Visa debit card, mobile payments and additional features of the wallet – including online card control, saving targets and even access to expert advice. Built on Marqeta’s card issuing platform, the digital wallet offers faster and cheaper payments at a speed that is truly unique to the Swiss market.
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