Mastercard and Unzer partner to expand open banking payments in Europe

Mastercard and payment solutions provider Unzer have announced a partnership to drive the adoption of open banking payments in Germany, Austria, and Denmark. This collaboration aims to create a unified digital payment ecosystem, enabling seamless account-to-account transactions for e-commerce merchants through Unzer’s payment gateways.

The partnership leverages Mastercard’s advanced open banking infrastructure to enable Pay by Bank, a method that allows consumers to make direct payments from their bank accounts using secure authentication processes, including biometric verification. This approach eliminates the need for traditional card payments, offering enhanced security and efficiency in online transactions.

Aiming for seamless open banking payments

Unzer and Mastercard have emphasised the potential for this partnership to simplify the online payment process and broaden the options available to consumers and merchants. By enabling open banking payments, the collaboration aims to address growing demand for faster and more flexible digital payment solutions.

“At Unzer, we are committed to delivering the most integrated payment solutions, and our collaboration with Mastercard allows us to elevate that offering,” said Pascal Beij, Chief Commercial Officer at Unzer. “By tapping into Mastercard’s trusted open banking infrastructure, we can drive innovation and empower merchants with faster, more convenient payment experiences that meet the needs of today’s digital economy.”

Mastercard’s EVP for APEMEA Open Banking, Valérie Nowak, added: “We’re thrilled to drive the evolution of an account-based payment solution that will streamline online transactions, enhance security, and broaden payment options through our collaboration with Unzer

“For six decades, Mastercard has been safeguarding and powering the global payments landscape, and with our cutting-edge open banking technology, we’re now offering consumers and businesses in Germany even more flexible payment experiences.”

Industry context

This move comes as open banking continues to gain traction across Europe, with increasing adoption among consumers and businesses. Open banking payments are seen as a secure and cost-effective alternative to card-based transactions, leveraging existing banking infrastructure to enable real-time transfers.

For Mastercard, the partnership is part of its broader efforts to expand its open banking capabilities globally. Recent innovations such as Mastercard Connect Plus—designed to give users greater control over their financial data, set to roll out in the US by 2025—further highlight the company’s focus on open banking technology.

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