Tue, 15 Apr 2025 | BUSINESS SALE
Global Pay by Bank platform, Banked, has bought UK-based consumer payments app VibePay, to accelerate global Pay by Bank adoption through consumer and merchant incentives.
VibePay connects people, brands, sellers and banks with real-time messaging and instant payments. Like Cash App and Venmo in the US, the company has gained a loyal Gen Z and Millennial following, pioneering ‘Conversational Commerce’ through a blend of personalised offers, peer-to-peer payments and financial insights.
Banked’s acquisition of VibePay will, it said, address a gap in the market by rewarding debit users who have been overlooked in traditional credit card ecosystems. In 2023, the UK debit payments market made up 86% of card payments, but the people who make those payments receive less than 2% of the rewards. The partnership will bring together Banked’s payment infrastructure platform with Vibe Pay’s next-generation consumer experiences and merchant insights tooling.
VibePay’s new AI-powered insights and buyer recommendation engine - an industry first in Open Banking - was another key driver behind the acquisition. Initially focused on the UK, this will allow Banked’s partners and merchants to target verified Pay by Bank users through VibePay’s channels, delivering tailored offers and messages that drive sales, increase basket sizes, and boost engagement.
The acquisition was supported by Vibe Pay’s long-time supporter and investor, Candy Ventures, founded by Nick Candy. Steven Smith, Director of Candy Ventures, and Vibe Pay’s founder and CEO, Luke Massie, will join the Banked board at the completion of the acquisition. The acquisition is awaiting FCA approval, after which the deal will be complete.
Luke Massie, Founder of VibePay, said: “This is an incredibly exciting new chapter for VibePay and our community. We’ve spent years building technology that genuinely connects people – not just for transactions, but for experiences. By joining forces with Banked, we now have the infrastructure, global reach, and merchant access to supercharge what we’ve built, and deliver real value to consumers at scale.”
Brad Goodall, CEO of Banked, said; “The combination of Banked and VibePay will drive Pay by Bank adoption through innovative consumer incentives – on par with credit cards – and empower merchants with deep data insights to drive acquisition and retention like never before. I couldn’t be more excited to have Luke and the team joining Banked to create the best Pay by Bank experience in the world and accelerate market adoption for our banking technology partners, merchants, and consumers.”
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