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8 advantages of open banking payments for any business

8 advantages of open banking payments for any business

Also known as Payment Initiation Services or PIS – open banking payments is a fast, transparent (in terms of pricing), and secure payment method, directly between two bank accounts.

In this post, we share a selection of reasons why businesses of all types – retailers, lenders, utility or subscription-based companies, or any other type of business, should consider adopting open banking as a payment method. Some of them, such as lower costs and reduced fraud, are quite straightforward. But others – such as future innovation and the flywheel combination with Account Information Services (AIS) – are less obvious but can come with an even greater ROI.

  1. Lower your cost of doing business
  2. Provide a seamless, secure payment flow for your customers
  3. Reduce fraud
  4. Benefit from faster cash flow
  5. Sell across Europe
  6. Set and forget with recurring payments
  7. Buy into innovation
  8. And finally, gain from a flywheel effect with account data


Read more in-depth information about the 8 advantages and how to apply them here.

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