Headquartered in Luxembourg with an office in Hamburg, Germany, Yapital, a subsidiary of e-commerce giant Otto Group, is an innovative payment solution that helps people with their daily transaction issues. Unlike many other payment solutions, Yapital utilizes multiple payment options, including QR code technology, encrypted online credentials and even a Yapital MasterCard. This unique setup frees customers to use Yapital in a variety of settings instead of only certain situations such as physical, in-store purchases. In addition, Yapital allows its users to synchronize their profiles across multiple devices with their website and free app, making it incredibly easy for people to follow all their transactions at any time from anywhere.
Yapital is incredibly secure, using world-class risk management and data centers and the highest security standards as governed by European law.
“We have built a robust and nice product,” Nils Winkler, Yapital’s CEO noted. “It’s a great addition to the current [commerce] value chain.”
Currently, Yapital users are able to directly transfer money from their phone, tablet or computer to merchants or other users through a peer-to-peer service. The money is sent instantly, finances are seen in real time and it is for free! These characteristics help to make Yapital successful in a competitive payment solution marketplace. In order to successfully use Yapital, customers must initially fund their account with a credit card or through a bank account. After the first funding, users can choose between activating ‘auto funding’ or using Yapital as a prepaid account. While some individuals may be hesitant to share such financial information, Yapital is incredibly secure, using world-class risk management and data centers and the highest security standards as governed by European law.
Now that a high caliber product has been built and partnerships formed, Yapital is looking to grow its user base and will launch a marketing campaign in the coming months. The firm’s goal is to acquire at least one million users by one year following the launch of its marketing campaign. In addition, the company is looking to both grow in Luxembourg and expand to the Austrian and Swiss markets in the near future.
“Currently, we have 25 employees in Luxembourg,” Winkler stated. “By the end of the fiscal year, I wouldn’t be surprised if we had up to 80. With our rapid growth, we need more and more risk managers and support staff, for example.”
The future of Yapital looks very bright, and the firm is proud to say that they will be growing from Luxembourg.
In addition to the growth of their current solutions, those at Yapital are excited to see how their platform progresses in the coming months. Two services currently being developed allow consumers to request money from a peer and another would allow customers to scan a QR code while window shopping and make a purchase on-the-go. These products and more will further bolster Yapital’s user base and differentiate it even more from other e-payment solutions.
The future of Yapital looks very bright, and the firm is proud to say that they will be growing from Luxembourg. The company strives to be active members of the Luxembourg business ecosystem; in fact, Yapital is a main sponsor of the ICT Spring, the largest technology event in the Grand Duchy. The firm also possesses a Luxembourg e-money institutions license, which allows it to be part of the e-payment solutions sector.
“We came to Luxembourg because it has fantastic ICT and financial clusters.” Winkler said. “It also has a great central European location. We feel that our company can really grow being based in Luxembourg.”
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