Unlocking payment evolution: A2A and Open Banking

Friday 15 December 2023 11:57 CET | Editor: Vlad Macovei | Interview

Ecommpay explores A2A payments, emphasising simplicity, collaboration, and the role of tokenization for security, delving into trends and the promising trajectory in Open Banking payments.


Ecommpay explores A2A payments, simplicity, collaboration, and tokenization for security, delving into the trends of Open Banking payments.


What are the key advantages and disadvantages of A2A payments from both a customer and merchant perspective? Please provide specific examples or use cases.

When considering standard account-to-account payments from a customer's standpoint, there are notable advantages. The process is user-friendly and intuitive, providing a sense of security when customers are redirected to their bank for payment confirmation. Being within the familiar banking environment instils confidence that the transaction will proceed smoothly, with no risk of potential fraud. For customers, the primary benefits lie in the ease of use and the assurance of a secure transaction.

On the merchant side, incorporating standard account-to-account payments is a straightforward solution for improving the payment and checkout pages. The key advantage here is that funds are directly deposited into the merchant's bank account without any intermediaries involved in collecting and settling payments.

However, drawbacks include inconsistent user experiences across European regions and banks, leading to varying adoption rates due to unfamiliar payment flows. Consumers also face a notable disadvantage in the absence of chargebacks, unlike card payments, impacting security – especially evident in scenarios like post-COVID travel bookings. While merchants enjoy reduced chargeback concerns, consumers contend with a less secure payment method, requiring a longer process to reclaim funds in case of issues.


A2A payments face various challenges. How can businesses effectively navigate these challenges and harness the potential of A2A payments to improve their financial operations?

For merchants planning for account-to-account payments implementation, simplicity is crucial. They should collaborate with trusted Open Banking providers, ensuring a deep understanding of potential issues as the payment landscape evolves. Merchant confidence hinges on 100% security assurance from the chosen provider, with an expectation of prompt issue resolution for smooth financial operations and a healthy cash flow.

When considering implementing Open Banking in their business projects, what should merchants look for in an Open Banking provider to ensure a seamless and secure integration? Are there specific features or considerations that stand out?

As mentioned earlier, a crucial starting point is evaluating the Open Banking provider's market positioning. This involves scrutinising not just their claims but understanding their operational methods. API documentation clarity is a key indicator, ensuring user-friendly business implementation for Open Banking payments.

Given the multitude of Open Banking projects, it's wise to investigate businesses already partnered with the provider. Real examples offer valuable insights, helping assess the solution's practicality and compatibility with specific business needs.

Engaging in direct conversations with Open Banking providers is vital. Inquiring about expansion plans and service improvements demonstrates their commitment to development. A transparent approach instils confidence in merchants faced with choosing between different Open Banking providers.


Tokenization is an essential concept in modern payment systems. How does tokenization contribute to the security and efficiency of A2A payments, and what are the best practices for its implementation?

Tokenization plays a crucial role in ensuring the security of payments. The use of tokenization is instrumental in safeguarding payments and ensuring the secure transmission of sensitive information, which should remain confidential. This measure contributes significantly to the overall security of account-to-account payments, making the entire process efficient and secure.

Examining A2A payment trends underscores the paramount importance of security, with tokenization playing a key role. Implementing account-to-account payments requires acknowledging the pivotal role of Open Banking providers, especially with the participation of tier one and tier two brands, highlighting the significance of tokenization. The reliance of renowned brands on Open Banking providers for security, with tokenization as a focal point, reinforces the reliability and effectiveness of this approach in account-to-account payments.


What are the current trends and innovations in the field of A2A payments and Open Banking that businesses should be aware of to stay competitive in the evolving payment landscape?

Open Banking account-to-account payments have been around for a while, and it's intriguing to witness the evolving trends. Following the introduction of A2A payments, the focus shifted to improving user experiences in specific regions, aiming for smoother and more secure payment flows through banks.

Currently, the trend in account-to-account payments is moving towards 'advanced account-to-account payments.' This progression includes not only accepting funds directly but also providing additional services. For instance, payment confirmation notifies businesses when funds physically reach their bank accounts, enabling confident service or goods provision to consumers.

Another key feature is the ability for quick payouts and refunds, particularly crucial for online retailers. These speed up the return process, increasing the likelihood of customers making repeat purchases. For instance, a GBP 100 pair of Nike shoes can be easily returned using the advanced account-to-account payment solution, ensuring a swift and seamless refund with a simple click.

A fourth notable trend is the emphasis on providing a localised experience by offering bank accounts in specific regions for business expansion. Whether in Latvia, France, or elsewhere in Europe, businesses benefit from tailored local bank accounts.

In summary, the trajectory of Open Banking payments is promising, with ongoing developments paving the way for exciting advancements in the next few years. The continuous evolution of account-to-account payments is an area of great interest, and I eagerly anticipate witnessing how this landscape unfolds in the coming years.

This editorial piece was first published in the Open Finance Report 2023. We encourage you to download the report and find out the latest trends and developments in the world of Open Banking and Open Finance, as the road to Open Data continues.

About Arthur Ribakovs

Being one of the youngest managers in the fintech sector, Arthur plays a pivotal role in building strategic relationships with the company’s Open Banking partners. Arthur is also a Product Owner of Ecommpay's two flagship technologies: Open Banking Advanced and Account-to-Account.



About Ecommpay

Ecommpay is an entire fintech ecosystem that allows you to make online payments and payouts globally. Ecommpay’s solutions are based on analysis, and the company constantly monitors the payment process, which allows it to find the synergy between conversion and security for every client.

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Keywords: Open Banking, Open Finance, account-to-account payment, Open Banking payments, report
Categories: Banking & Fintech
Companies: ECOMMPAY
Countries: World
This article is part of category

Banking & Fintech


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