Open Banking 101: An Introduction to the Way Payments Will Work in the Future

15th March 2019
Callum Godwin
Callum Godwin

Report Overview

Open banking. PISPs and AISPs. APIs. PSD2. These are all terms that are hot industry topics right now, but what these things mean for the merchant community is often over-looked. In our latest white paper, we’ve gone back to basics to explain what open banking is, why it’s so important, and what merchants should be doing to prepare for the changes it will (hopefully) bring.

Payments is on the cusp of a revolution, and everyone with the best interests of the merchant community at heart hoped that PSD2 and the open banking initiative would be the catalyst for that change. In the coming years, we believe that payments will be seen more and more as a revenue-driving and customer-experience-improving opportunity for merchants, and less of the burden it is often unfortunately thought of now. How big of a revolution, and how much of a benefit merchants receive from these changes, depends greatly on the actions they take now.

Topics Covered:

Open Banking 101

What does it mean for merchants and what should U.S. merchants do now?

Opportunities and Threats

Cost, experience, trust, data - we explore the threats and opportunities of open banking.

A Global Perspective

We investigate how other countries around the world have used open banking so far.

The U.S. Experience

Industry groups must come together in the U.S. to create a framework for open banking.

Banks have focused far too long on protecting aging revenue streams and cost containment, not on customer services, innovation or competing with their brethren.

Mark Horwedel | Ex-Director of Payments at Walmart, Ex-CEO of Merchant Advisory Group

Please note, if you don’t receive the white paper within 5 minutes, it may be stuck in your junk/spam filter. If you have any further issues, or questions about the report please email Alex Ellwood at

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