WALTHAM, Mass., Nov. 3, 2014 /PRNewswire/ -- Global payment gateway BlueSnap announced today that Yoyo, a mobile marketing and payments platform, has selected BlueSnap to power its international transactions. Yoyo made the decisions to switch from another payment gateway to BlueSnap for its more comprehensive selection of APIs and stronger cross-border acquiring capabilities.
Launched in January 2014 in London, Yoyo is the only platform that seamlessly blends payments, loyalty and discovery to create better relationships between retailers and consumers. The Yoyo app is now available to 125,000 university students and faculty across the UK and processes over 50,000 transactions per month. With monthly transactions growing at 20% and retailers converting 12% to 15% of cash flow into electronic payments within just weeks of adopting Yoyo, the platform is seeing fast adoption and strong feedback from users.
With plans to expand throughout Europe and to the U.S., Yoyo needed a payments partner that could facilitate seamless entry into new markets. Yoyo made the decision to switch to BlueSnap.
"Yoyo is joining forces with BlueSnap because we needed a partner that is completely aligned with our business objectives," said Alain Falys, CEO of Yoyo. "BlueSnap can seamlessly assist with our international expansion strategy, with a technology that is easy to support and fully integrated with our own technology stack."
BlueSnap's comprehensive API library will make it easy for Yoyo to offer mobile payments in 180 countries, 29 languages and 60 currencies with 110 different payment options. By providing multiple acquirers in each market, BlueSnap also offers higher conversion rates than Yoyo's previous payment gateway.
"By combining payments, loyalty and discovery in a single platform, Yoyo is taking the lead in the mobile payment space," said Ralph Dangelmaier, CEO of BlueSnap. "We're proud that Yoyo has made the switch to BlueSnap, and we look forward to supporting their success."
Founded in 2013, Yoyo is the only platform that seamlessly blends payments, loyalty, and discovery. Users download Yoyo on the App Store or Google Play, and attach a funding method to top-up their account. Yoyo integrates into the retailer's till system and uses a unique QR-code for each transaction, which is scanned at the point of sale using a scanner. Users collect loyalty points automatically in the app and can receive offers and promotions from their favourite retailers direct into their app. It removes the need for both cash and loyalty stamp cards. The platform gives retailers a set of tools which enable them to better target their customers with relevant rewards, offers and incentives.
Yoyo is now live at some of the UK's largest universities, corporate head offices and at a number of retailer chains across London. The app will be available to over 300,000 people by the end of 2014, and is currently powering over 50,000 transactions a month, a number expected to more than double by year end 2014. Earlier this year, Yoyo was named as one of the Top 10 hottest startups in London by WIRED UK magazine.
BlueSnap is a smarter international payment gateway powering the checkout process for eCommerce merchants worldwide, and fueling growth for online businesses serving digital, physical and mobile markets. BlueSnap has reinvented and optimized the checkout experience by combining intelligent payment routing, frictionless one-click checkout, cross-border payments, award-winning Smart Subscriptions, multiple integration options and dynamic ecommerce tools. With over 10 years of experience serving merchants around the globe and supporting shoppers in 180 countries with localization in 29 languages, 60 currencies and 110 payment types, BlueSnap is fulfilling its promise to convert more shoppers to buyers worldwide. Learn more at www.bluesnap.com.
"BlueSnap", its logo, and "Smart Subscriptions" are trademarks of BlueSnap, Inc.