Chester fintech links up with global payments expert PayPal
Chester-based fintech, AperiData, has partnered with global operator PayPoint in what has been described as a ‘transformational collaboration’.
They say the partnership marks a significant milestone in the evolution of the UK’s open banking offerings, setting the stage for the modernisation of the Consumer Credit scoring market through real-time data integration.
Stephen Ashworth, AperiData CEO, said: “At a time when the cost of living crisis continues to impact millions of consumers, and regulatory focus increases on their fair treatment, this partnership with PayPoint allows us to ensure our joint clients have the services they need to ensure good customer outcomes.”
AperiData’s approach combines the power of open banking data with PayPoint’s expertise in payment and retail services, enabling organisations to serve their customers digitally, with unparalleled accuracy and in real-time. By doing so, this strategic alliance extends the accessibility of appropriate and affordable financial solutions to under-served communities, ushering in a new era of financial inclusion.
Myerson Solicitors advised on the partnership, and Carla Murray, head of commercial at Myerson working with AperiData, said: “This partnership demonstrates an unwavering commitment to digitising affordability calculations, precisely when they are needed most during the ongoing cost of living crisis in the UK.
“It was a pleasure to be able to support Aperidata on this matter. Chris Moss – advisor on Burnley’s Bank of Dave – and I worked collaboratively with PayPoint’s compliance team to ensure both parties were able to navigate the complex regulatory and data issues open banking and data sharing of this nature entails.”
By embedding AperiData’s credit referencing and open banking capabilities into PayPoint’s payment services, clients gain a comprehensive understanding of their financial landscape. This integration empowers businesses to streamline operations, reduce paper dependency, and, ultimately achieve improved consumer outcomes.
