How Open Banking is forging a new era in payments in Europe

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Open Banking holds enormous promise for PSPs to make many payment functions faster, cheaper and more efficient.

About the report:

Our latest report reviews the new landscape after COVID-19. As the global economy continues to recover from the pandemic, a new payments landscape is emerging and holds many opportunities for Payment Service Providers (PSPs). Now, there is a greater number of merchants looking to accept electronic payments for the first time as they implement online offerings to complement or replace physical presences, and more revenue flowing through digital channels.

Despite plentiful growth opportunities, keeping up with the tech landscape can be onerous for merchants. Account-to-account payments are an addition to an ever growing list of new payment types, and open banking data for onboarding may seem like an additional complication. In partnership with Plaid, PSPs can provide all of the necessary solutions for merchants to improve their payment journeys and onboarding so their customers can tailor offerings to the local market needs.

Learn about the benefits of Open Banking for PSPs, including:

  • Higher conversion rates for their merchant customers
  • Lower fraud rates
  • A simplified payment experience for both merchants and consumers

Download the report today and learn how Open Banking is forging a new era in payments.