VibePay has announced a major evolution of its platform, confirming that from March 2026 it will introduce weekly cashback rewards on eligible payments, while pausing peer-to-peer (P2P) payments to focus on building a rewards-first payments experience powered by Open Banking.
As part of the update, VibePay will launch VibePay Friday, a new weekly in-app feature that allows users to select a recent payment each week for a chance to receive the full amount back as cashback.
The rewards experience will be:
- Bank-agnostic, working across all major UK banks
- Credit-free and fee-free, powered by Open Banking
- Available on everyday spending, wherever users choose to pay
“This is about rewarding real spending,” said Chris Franklin, CMO of VibePay. “From March 2026, every eligible payment becomes a chance to get something back, regardless of bank or merchant. At the same time, we’re making a deliberate shift to focus on cashback and merchant payments, where Open Banking delivers the greatest value for both consumers and businesses.”
Alongside the launch of weekly rewards, VibePay confirmed it will pause P2P payments from March 2026. The decision enables the company to concentrate on two core priorities: delivering one of the UK’s most compelling cashback experiences and launching VibePay Checkout, a Pay-by-Bank checkout designed to reward consumers while offering merchants a lower-cost alternative to cards.
“Pausing P2P allows us to double down on what matters most,” Franklin added. “We’re building a rewards layer that sits on top of every UK bank and connects consumers and merchants in real time. This is a focused step forward, not a reduction in ambition.”
VibePay Checkout will allow users to pay merchants directly from their bank account, with every purchase automatically qualifying for weekly cashback rewards and unlocking personalised offers.
Unlike traditional card-based reward schemes, VibePay’s model works across all UK banks, with no credit checks, no interest, and no hidden fees.
By uniting payments, rewards, and merchant engagement into a single Open Banking ecosystem, VibePay aims to become the UK’s first payments experience that consumers actively choose, rather than simply default to.
