Citizen, a UK-based leading provider of payment services, has rebranded to Yaspa. The change comes as a strategic move to reflect the company’s evolving role in the fast-growing world of paytech.
When the business was launched in 2017, our focus was on building trusted identities for individuals – citizens. Open banking has been a core part of delivering that data, and that trust, and we have seen extraordinary success on the payments side. The idea of using data to inform trust is still core to our proposition – but there’s no getting away from the fact that ‘citizen’ is a generic term, and there are several other large ‘Citizen’ brands out there, including in financial services.
A recent survey by YouGov, a global opinion and data company, conducted by Yaspa showed that the name Yaspa was rated as more memorable, especially among the under 50s, compared to its predecessor, Citizen.
We were looking for a name that was simple, memorable and easy for non-English speakers to pronounce. Working with both external agencies and our own teams, after much brainstorming the word ‘yaspa’ took seed. Its constituent letters reflect what we do ‘PAY’ and how we do it ‘ASAP’, and it has a feel that is as friendly and approachable as our business customers find us to work with. We’ve nurtured it gently over the last few months and it has continued to stand strong.
In addition to the challenge of sharing a name with multiple companies, Citizen faced a digital branding obstacle. While they used the PayWithCitizen.com domain, the more intuitive Citizen.com was owned by another business, an app offering location-based safety alerts. Such a discrepancy often leads to consumer confusion, lost traffic and emails, and ineffective advertising.
Yaspa secured the exact brand match domain name Yaspa.com, helping prevent confusion, and ensuring customers and communications reach the right place. Such a solid brand strategy with a unique and memorable brand name with the matching global domain name, paves the way for Yaspa’s growth in the very competitive online payment services sector.
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