The Road to Open Payments

Banks and payment service providers in Europe are developing innovative open payment solutions for online commerce.

London, 29 April 2020 – The digitalization of commerce continues to drive customer demand for new payment solutions that are faster, more transparent, less risky, and cost efficient. In Europe, the second Payment Services Directive has allowed PSPs to leverage payment initiation services and offer open payments to end users as an alternative to cards and other legacy payment methods. And companies have significant interest in open payments, given the potential to create new payment experiences with lower fees and to reduce risk.

This report, sponsored by Token, provides insights into the introduction of open payments in Europe. It is based on 15 interviews that Aite Group conducted between January and March 2020 with payment executives from banks and other PSPs as well as card schemes active in Europe. The interviews are complemented with reliable and publicly available data from central banks, industry associations, company investor presentations, and annual reports.

This 27-page Impact Report contains eight figures and three tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ABN Amro, CBI Globe, EBA Clearing, Klarna, Mastercard, Mobey Forum, MobilePay, Mollie, Payconiq, paydirekt, PayPal, Paysafe, Redsys, Salt Edge, SIBS, Swish, Tink, TrueLayer, Trustly, Twint, Vipps, and Visa.

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