London-based Osu, a new invoicing and payment app for the self-employed announced its partnership with Yapily, a leading open banking infrastructure provider based in the city.
Seamless payments to self-employed
As of now, there are 4.5 million self-employed professionals in the UK and many of these businesses rely on time-consuming payment processes to manage their day-to-day finances. With the partnership between Osu and Yapily, self-employed professionals get a way to receive payments sans fees or settlement delays.
This partnership comes at the right time as the self-employed are already hit due to the pandemic, eliminating the cost of getting paid and automating tasks including sending invoices, accepting payments, and chasing customers are critical to managing their cashflow.
Using Yapily’s open banking infrastructure, Osu enables a seamless payments experience for its customers. Osu removes traditional pain points affecting the self-employed when it comes to payments such as high fees, settlement delays, and error-prone bank transfers. This is possible as it builds its payment request flow on top of Yapily’s API infrastructure rather than integrating with a card-based payment service provider.
Noam Nevo, CEO & Co-founder of Osu commented, “Our app allows the self-employed to receive payments without fees or settlement delays so that they can carry on with their day-to-day with no worry of losing out on vital funds. Yapily’s infrastructure enables this to happen, so it was a no-brainer to partner with them. We’re planning on introducing a host of new business management features this year, and with support from Yapily, we believe our offering will continue to make life easier for the self-employed as they look to rebuild from a challenging year.”
Stefano Vaccino, CEO of Yapily said, “This partnership is an exciting development for Open Banking and demonstrates the benefits our infrastructure can bring to the changing – and growing – landscape of the self-employed. Our partnership with Osu very much aligns with our mission of driving financial inclusion. We’re looking forward to how this partnership develops into other innovative solutions that will, no doubt, prove invaluable to business owners.”
Cutting-edge payment tools
Osu founded by Noam Nevo, Daniel Scott, and Alon Zion in 2020 gives freelancers and the self-employed access to cutting-edge payment tools. Through its easy-to-use payments app, Osu lightens the load for self-employed professionals across the UK and helps them achieve more for their efforts such as more earnings, more time, and more opportunity to build.
As of now, the Osu app has helped over 1,000 self-employed professionals build and grow their operations, assisting them to successfully accept hundreds of thousands of pounds worth of payments. Recently, Osu raised seeding round of over £2 million and is in plans to increase its customer base to 10,000 active users by the end of 2021.
Users of the Osu app get a 30-day free trial sans providing any card details. After 30 days, they can take up a three-month subscription by paying £4.99 for the Lite plan, £9.99 for the Standard or £19.99 for the Pro plan.
Yapily: Heads up!
Founded by Stefano Vaccino in 2017, Yapily lets companies to share financial data and access payment infrastructure. Designed and built for Open Finance, Yapily enables fairer and better financial products for everyone. It provides infrastructure for industry leaders including American Express, Intuit Quickbooks, Moneyfarm and BUX.