YeePay partners with ClearBank to accelerate European payments expansion
By Aarav Garg
Today
APAC
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Digital Banking
YeePay has selected ClearBank as its safeguarding bank provider in the UK and Europe, supporting its expansion into international markets.
The partnership has aimed to strengthen YeePay's offering by enabling merchants to access local, regulated banking and payment infrastructure when entering European markets. This includes capabilities to collect and pay out funds domestically, helping reduce operational complexity and support compliant cross-border activity.
ClearBank's world-class offering, alignment on regulatory process and innovative banking infrastructure will be vital to unlocking our expansion into the UK and European markets. ClearBank's experience in supporting Asian fintechs on this journey made it an easy decision for us to select it as our partner. We look forward to tapping into this expertise and using the strengths of both our businesses to enable our EMI licence applications as we start to serve merchants directly.
- Yu Chen, co-founder of YeePay
YeePay processes more than $720 billion in transactions annually and operates across over 200 countries and regions. Its expansion strategy has focused on securing local licences in key markets, including the UK and the Netherlands, to meet demand for regulated payment services.
Since obtaining our European banking licence, we have seen increasing interest from Asian based clients seeking dependable banking services across Europe and the UK. Our partnership with YeePay demonstrates how we combine scalable infrastructure with strong regulatory expertise to support international growth. By aligning on compliance, speed to market and operational excellence, we are well placed to help YeePay bring its high-quality payments services to more customers across our markets,
- Mark Fairless, Group CEO of ClearBank
Through the collaboration, ClearBank will support YeePay's applications for Electronic Money Institution licences with the Financial Conduct Authority and De Nederlandsche Bank. Once approved, YeePay will be able to access UK and European payment schemes indirectly and issue local virtual IBANs to merchants for collections, payouts and safeguarding purposes.
ClearBank will also onboard existing regulated entities within the YeePay group, enabling certain payment activities to be conducted under current regulatory permissions.
The agreement reflects increasing demand from Asia-based FinTechs seeking regulated entry into European markets, as firms prioritise local infrastructure and compliance to support cross-border growth.
