Open Banking by ECOMMPAY
Use our Open Banking API to connect to thousands of banks effortlessly anywhere in Europe. Enrich customer experience and create financial transparency for your customers.
Get In Touch
Use our Open Banking API to connect to thousands of banks effortlessly anywhere in Europe. Enrich customer experience and create financial transparency for your customers.
Get In TouchOpen Banking is an innovative financial technology that enables third-party providers to access banks’ data to build custom services. The new service allows customers to have easy and transparent control over their data and money with the bank. It’s fast and secure, all with no cards and no data entry.
Accept payments from your customers in real-time, directly to your bank account.
Olga Karablina
Partners Team Lead at ECOMMPAY
Understanding the benefits for both you and your customers is vital to get the most from Open Banking. With 77.7% of the European population owning a bank account, the advantages to Open Banking are numerous for both parties.
Here are some of the key benefits for both merchants and customers.
Users pay directly from online banking, not with credit cards. So there is no chargeback risk for merchants.
Banks have full control over the various services their customers need, e.g. advice, loans, transfers, and financing. With Open Banking everything is managed under a single administration.
Open Banking opens up financial markets, offering new infrastructure for payments. Start offering your customers an easier way to pay.
It’s fast and does not require any intermediaries.
Taking into account different currencies, regions, and other localisation requirements.
All-access is based on PSD2 account access API issued and trusted by banks.
Customers access data is secure and fully compliant with GDPR requirements.
All customers have to do is log in to online banking via their mobile app, and accept the payment.
All financial data is in one place, allowing a quick credit decision on loans and other transactions.
It’s a payment marketplace of sorts. It allows you to effectively manage your accounts and payments
Open Banking allows approved third-party providers (TPPs) to access financial information directly to provide payment initiation through API connections.
Open Banking is also a leap forwards from a technical and security standpoint. PSD2 introduces mandatory Strong Customer Authentication (SCA), meaning individuals and businesses can only access their data through secure online gateways.
The UK, Latvia, Estonia, Lithuania, Netherlands are available now. Portugal, Austria, France, Germany and more coming soon.
100+ payment methods. We integrate new ways to pay regularly, assisting clients to enter new markets.
We have several data centres, enabling us to guarantee a 99.99% uptime for our payment infrastructure.
Advanced anti-fraud, payment links, smart cascading and routing, and many more.
Products and solutions are tailored to individual client requirements, making sure they get exactly the right payment platforms for their business.
Receive regular, relevant advice on optimising your business operations. Each account manager is tasked with making sure your business gets the attention it deserves.
ECOMMPAY provides us with a bespoke technical and financial solution, supporting us in growing our business and managing our account using a dedicated individual approach.
ECOMMPAY is a reliable partner with whom we work in Asia and Europe. The company possesses unique experience and knowledge of all the intricacies of working with acquiring banks, and local payment systems. There is always a quick response from the team to any of our requests, including payment solutions and technologies testing, which is one of the main areas of our business success.
Head of Division, Payment Systems Group, Softline eCommerce
ECOMMPAY engineers bespoke payment solutions for e-Commerce merchants. The Authorised Payment Institution is regulated by the Financial Conduct Authority (license 607597) and holds both VISA and Mastercard Principal Membership.
