Global Pay by Bank platform Banked has acquired UK-based consumer payments app VibePay, with both Candy Ventures and VibePay founder Luke Massie set to join the Banked board.
The combination of Banked’s payment infrastructure platform with VibePay’s consumer experiences and merchant insights tooling aims to accelerate global Pay by Bank adoption.
Banked’s acquisition of VibePay will address what it sees as “a gap in the market”, by rewarding debit users, which have been “overlooked” in traditional credit card ecosystems.
Following the acquisition, VibePay will operate under the Banked umbrella, giving consumers access to personalised rewards, cashback, and exclusive offers with every Pay by Bank transaction in the VibePay app.
The partnership will initially be focused on the UK to allow Banked’s partners and merchants the ability to target verified Pay by Bank users through VibePay’s channels to create tailored messages and offers.
Steven Smith, director of Candy Ventures, which is a long-time supporter of and investor in VibePay will also join the board of Banked, at completion of the acquisition, which is awaiting Financial Conduct Authority approval.
Massie 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.”
Once launched in the UK, Banked and VibePay intend to begin market expansion of the technology to distribution partners, merchants and consumers, globally.
Brad Goodall, founder and chief executive officer of Banked
Brad Goodall, chief executive officer of Banked, added: “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.”
It is Banked’s second acquisition in the past 12 months, after buying Australian Pay by Bank provider Waave in October 2024, strengthening its presence across the UK, EU, US and Australia.
Banked recently partnered with National Australia Bank to launch Pay by Bank for Amazon.com.au customers in Australia.
Listen to Conor Tiernan, VibePay’s head of insights, on the Open Banking Expo Unplugged podcast series, as he discusses how VibePay is driving “conversational commerce”.
Further reading: FIS forms strategic partnership with Banked for Pay by Bank
