Banked has acquired the UK-based consumer payments app VibePay to enhance the adoption of Pay by Bank through incentives for both consumers and merchants.
VibePay connects individuals, brands, sellers, and banks through real-time messaging and instant payments, providing personalized offers, peer-to-peer payments, and financial insights. This acquisition aims to fill a market gap by offering rewards for debit users who have been overlooked by traditional credit card programs.
Under Banked’s management, consumers will have access to personalized rewards, cashback, and exclusive offers with every Pay by Bank transaction made through the VibePay app. VibePay’s new AI-driven insights and buyer recommendation engine were significant factors in this acquisition. Initially focused on the UK, these features will enable Banked’s partners and merchants to target verified Pay by Bank users via VibePay’s channels, delivering tailored offers and communications.
Brad Goodall, CEO of Banked, stated: “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 enhance acquisition and retention like never before.”
This marks Banked’s second acquisition in the past 12 months, following its purchase of Australian Pay by Bank provider Waave in October 2024. Following that acquisition, Banked partnered with National Australia Bank to launch Pay by Bank for Amazon customers in Australia.