Global

Budget 2024: Canada’s Consumer-Driven Banking Framework

Canada

“Consumer-driven banking, also known as open banking or consumer-directed finance, refers to frameworks that allow consumers and small businesses to securely transfer their financial data through an application programming interface (API) to approved service providers of their choice.”

Tags: Canada

Companies

Klarna Adds Open Banking Settlements for 18 Million Consumers and 32,000 Retailers

Klarna

“Klarna has begun to roll out open banking-powered settlements in the UK, which means consumers can now pay Klarna directly from their bank account instead of using a debit card, bypassing card networks.”

Tags: Klarna

Companies

Mastercard Simplifies Subscription Management With Smart Subscriptions

Mastercard

“Mastercard unveils Smart Subscriptions, an open-banking powered subscriptions management solution that financial institutions can easily plug into their consumer banking applications.”

Tags: Mastercard

Companies

Mastercard and Nexi Team up to Advance Open Banking Payments Across Europe

Mastercard

“Nexi has chosen Mastercard as its strategic partner across Europe to support open banking account-based payments. Through this partnership, Mastercard Open Banking will facilitate e-commerce payments across Nexi’s gateways serving merchants across Europe.”

Tags: Mastercard

Industry

BankSocial Announces "Web3-Powered" RTP Open Banking Payments Features for Credit Unions at CUNA Governmental Affairs Conference

PR Newswire

“BankSocial today announced active implementation of payments capabilities designed with Web3 compatibility in mind. BankSocial future-proofs Credit Union payment platforms to support their members in the exploding world of open banking and digital assets.”

Companies

Socure and Trustly Partner to Offer Industry-First Streamlined Onboarding and Open Banking Payments Process for Merchants and Fintechs

PR Newswire

“Socure and Trustly announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.”

Tags: Socure Trustly

Companies

Mastercard Open Banking Enhances the Debit and Prepaid Digital Account Opening Experience

Mastercard

“Mastercard announced the Open Banking for Account Opening program, providing a foundational set of open banking products as a core benefit to Mastercard consumer and small business debit issuers as well as consumer prepaid issuers in the U.S.”

Tags: Mastercard

Companies

Dwolla Launches New Open Banking Services Bolstering A2A Payment Offerings

Yahoo Finance

“Dwolla announced the launch of its Open Banking Services extending Dwolla’s account-to-account (A2A) offering to include instant account verification, balance checks and fraud mitigation.”

Tags: Dwolla

Companies

FIS Widens Access to Open Banking Through Collaboration With Banked

Business Wire

“FIS® announced it has entered a strategic partnership with Banked, a leading provider of open banking solutions, to drive new pay-by-bank offerings for both businesses and consumers.”

Tags: FIS

Industry

Radial and Link Money Partner to Introduce Pay by Bank, a Secure and Cost-Effective Payment Solution for Global Merchants

Business Wire

Radial, Inc. announced a partnership on Pay by Bank, a payment solution developed by Link Financial Technologies, Inc. (dba Link Money), a US-based open banking payment platform.

Companies

Ant International and Yapily Launch Europe’s First Commercial Variable Recurring Payments for e-Commerce, in Partnership with HungryPanda

Yapily

“Ant International is expanding its existing partnership with Yapily to introduce Europe’s first-ever commercial variable recurring payments (VRPs) for e-commerce via Open Banking on mobile payment platforms.”

Tags: Ant Group Yapily

Global

Volt and Bumper Partner to Bring Open Banking to Major Car Dealerships in the UK and Europe

Volt

“Volt, the global real-time payments platform, announces its partnership with Bumper, a payment platform for car dealerships, to harness the power of open banking and real-time payments so that consumers can pay for vehicle deposits, repairs, parts, services and even purchase vehicles outright.”

Tags: Europe UK

Industry

PSD3 Tries to Keep Pace With Open Banking Expansion

The Banker

“The adoption of the third iteration of the Payment Services Directive may be seen in 2025, which — among other changes — looks to improve the framework for open banking, a market which is expected to continue growing exponentially and exceed $31bn in 2024, up from $24.67bn in 2023.”

Companies

Ecospend Becomes First Provider Accepted Onto Open Banking DPS

Electronic Payments International

“Ecospend has become the first provider of open banking solutions to be accepted onto the Crown Commercial Services new Open Banking Dynamic Purchasing System (DPS) enabling all public sector entities in the UK to access its services.”

Tags: Ecospend

Global

Payments NZ Seeks Authorisation to Further Develop Its Open Banking Framework

Commerce Commission of New Zealand

“The Commerce Commission has received an application from Payments NZ Limited (Payments NZ) seeking authorisation to work with API providers and third parties to develop arrangements that, according to Payments NZ, will facilitate a more well-utilised, secure and innovative open banking framework.”

Tags: New Zealand