Global

Nationwide Incorporates Experian’s New Digital Income Verification Service

Open Banking Expo

“The UK’s largest building society Nationwide has become the first major lender to incorporate Experian’s income and employment verification service ‘Work Report’ into the mortgage application process to speed up checks.”

Tags: UK

Global

Unzer and Mastercard Enter Payments Partnership

Yahoo Finance

“Fintech company Unzer has selected Mastercard as its open banking partner to power e-commerce payments through its payment gateways in Germany, Austria, and Denmark.”

Tags: Austria Denmark Germany

Industry

Games Marketplace Integrates Volt’s Pay by Bank Solution

Open Banking Expo

“Global marketplace for video games Kinguin has partnered with global real-time payments platform Volt to integrate Pay by Bank, thereby enabling its users to purchase games directly from their bank account. Through the new Open Banking payments partnership, Kinguin’s 18 million users will be able to purchase games and in-game goods using Volt’s Pay by […]

Companies

A Deep Dive into Pay by Bank and Open Banking

Nacha

“On the surface it sounds really familiar: Pay your bills online, directly from your bank account. But what makes pay by bank different and how does open banking facilitate this process?”

Tags: Nacha

Companies

Zing Works With Tink to Rollout Two New Top-up Options for Members

Open Banking Expo

“International money app Zing, which is part of HSBC, has worked with Visa’s Open Banking platform Tink to launch automatic and one-tap top-ups for all members. By utilising Open Banking variable recurring payments (VRP), the two new top-up options will enable Zing’s members to add funds from seven major banks within 30 seconds.”

Tags: Tink

Global

Hong Kong Monetary Authority Launches Developer Platform for Data Sharing Initiative

Open Banking Expo

“The Hong Kong Monetary Authority has launched a developer platform in collaboration with the Hong Kong Science and Technology Parks Corporation (HKSTP), as part of its Interbank Account Data Sharing (IADS) initiative.”

Tags: Hong Kong

Companies

Trustly to Process $100 Billion Annually, Leading the Pay by Bank Surge

Trustly

“Trustly, the global leader in Open Banking Payments, is on track towards processing $100 billion in Total Payments Value in 2024, underscoring a shift in the payments industry as merchants continue to explore card alternatives. To date, over 112 million consumers have used Trustly’s products globally, showcasing the appeal of Pay by Bank options at […]

Tags: Trustly

Companies

Mastercard Pilots New Open Banking ‘Data Command Centre’

Open Banking Expo

“Mastercard has introduced a new data command centre, ‘Mastercard Connect Plus’, that will give consumers control of where, how and with whom their financial data is shared. The new tool will enable individuals to search for and link their bank accounts, view which third-parties have consent to access that account’s data, and grant and revoke […]

Tags: Mastercard

Companies

Token Partners With Santander to Steer Future of Open Banking Payments

Token

“Token.io announced a partnership with Santander UK. Santander will leverage Token.io’s infrastructure to offer payment directly from an external bank account as a credit card repayment option.”

Tags: Token.io

Companies

Promoting Pay by Bank across London with Tink and Splitwise

Open Banking Expo

“Tink, A Visa Solution, recently ran an out-of-home campaign with its partner Splitwise, showcasing how the bill-sharing app has introduced Pay by Bank payments, so that users can pay friends and family more easily.”

Tags: Tink Visa

Companies

Are You Ready for Open Banking and the Proposed CFPB Rule?

Atlanta Fed

“Consumer financial data is the foundation of payments, investments, and loans that, when used safely, can support a well-functioning and inclusive economy. Think of open banking as permissioned access to personal financial data. Consumers can authorize third parties to retrieve their information to transform it into useful services.”

Tags: Federal Reserve

Industry

Looking Ahead to the Final Open Banking Rule: Key Issues to Watch

Financial Technology Association

“This fall, the Consumer Financial Protection Bureau (CFPB) is expected to issue a final open banking rule establishing personal financial data rights, culminating more than a decade-long process under Section 1033 of the Dodd-Frank Act. The landmark open banking rule could accelerate competition and choice by empowering consumers with greater control of their personal financial […]

Companies

Where Pay by Bank is Heading for American Consumers

Nacha

““What’s really going to drive ACH or pay by bank in the U.S. is value. Whether that’s flexibility, whether that’s incentives, whether that’s something that that end user is not going to get from their bank—that’s what’s ultimately going to drive adoption of pay by bank,” said McFerrin, Vice President of Enterprise Growth at Trustly Inc., a […]

Tags: Nacha Trustly

Companies

ClearBank and TrueLayer Reveal Closed-Loop Payments Partnership Results

Open Banking Expo

“ClearBank has revealed the results of its work with TrueLayer on closed-loop payments in the UK, with payment volumes increasing by seven times since the debut of the collaboration in January 2023.”

Tags: TrueLayer

Industry

Link Money Teams up With Ticketing Operator to Offer Pay by Bank

Open Banking Expo

“US-based Open Banking payments platform Link Money has partnered to bring Pay by Bank to ticketing payments. Link Money has teamed up with Anchor Operating System, an all-in-one ticketing and operating system, to integrate its Pay by Bank solution into Anchor’s ticketing services.”