The collaboration aims to improve account-based Open Banking payments, simplifying ecommerce transactions across Unzer’s payment gateways.
The partnership integrates Mastercard’s Open Banking-driven technology to enable pay-by-bank solutions, offering consumers secure and simple payment options. By leveraging this technology, Unzer and Mastercard are working toward a unified digital payment ecosystem that prioritises flexibility and efficiency for online purchases.
Unlike traditional payment methods, Open Banking facilitates direct payments from a customer’s bank account to merchants. These transactions use existing bank authentication processes, such as biometric verification, to ensure a fast, secure, and user-friendly payment experience.
The collaboration also aligns with evolving consumer demands for innovative and convenient digital payment solutions. With Unzer’s expertise in payment systems and Mastercard’s established open banking infrastructure, the initiative is poised to drive digital payment adoption across key European markets.
This development underscores the growing importance of Open Banking in modernising payment ecosystems and improving the ecommerce experience for businesses and consumers alike.
As part of its commitment to shaping the future of payments, Mastercard has embraced Open Banking, a movement that allows consumers and businesses to benefit from more secure, flexible, and simplified financial services. By leveraging its extensive global network and technology infrastructure, Mastercard has developed a range of Open Banking solutions that help businesses offer fast, simple payment experiences. The company's Open Banking platform enables third-party providers to access bank account data and facilitate real-time payments, fostering a more integrated and accessible financial ecosystem.
Over the years, Mastercard has established strategic partnerships with key players in the Open Banking space to drive adoption and create innovative payment solutions. This includes collaborations with fintech companies, banks, and regulatory bodies.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now