Unzer, a leader in payment and software solutions, has introduced “Direct Bank Transfer,” a payment method powered by open banking that allows customers to pay directly from their bank accounts without needing a credit or debit card. „Starting in January 2025, the service is available to merchants in Germany and works seamlessly across all SEPA countries, with plans to roll it out to additional European markets later this year.” – according to the press release.
„Transactions are processed through existing bank authentication systems, such as biometric verification, ensuring a simple, fast, and efficient experience. For merchants, the pay-by-bank product addresses common challenges such as card limits and fraud risk while reducing the likelihood of declined transactions.” – the company explained.
“With Unzer Direct Transfer, we’ve launched a simple and trustworthy payment method based on Mastercard’s open banking platform,” said Timo Seifert – Director Product at Unzer. “Merchants benefit from faster settlements and higher conversion rates while giving customers an easy and secure way to pay. It’s a smarter, more transparent payment method that benefits everyone.”
Unzer also plans to offer a white-label option, where Unzer operates behind the scenes, allowing merchants to customize the checkout process to match their branding. This helps build trust and loyalty with customers, reduces cart abandonment, and creates a seamless shopping experience.
Unzer’s new product is the first initiative stemming from the company’s collaboration with Mastercard. The goal is to create a streamlined digital payment system using Mastercard’s Open Banking technology for smooth e-commerce transactions via Unzer’s gateways.
Pascal Beij – Chief Commercial Officer at Unzer, said: “By combining Unzer’s technology with Mastercard’s open banking platform, we’re driving innovation and empowering merchants with faster, more convenient payment experiences that meet the demands of today’s digital economy.”
Looking ahead, Unzer is developing an Account Information Service (AIS) as part of its open banking roadmap. This service will allow secure access to customer banking data, such as account balances and transaction history, via APIs. With customer consent, businesses can use this data for a variety of purposes, such as streamlining financial management and offering personalized services. AIS provides customers with a consolidated view of their finances across multiple accounts, enhancing transparency and control.
Unzer provides an ecosystem that enables businesses to digitalise through simple and integrated payment and software solutions. From online purchases and in-store mobile POS systems to final settlement and essential business processes, Unzer simplifies and optimises retail operations. This all-in-one approach helps merchants run their businesses more efficiently while ensuring a seamless shopping experience for their customers.
More than 85,000 merchants across Europe already use Unzer’s ecosystem. The company employs around 750 people in eight offices in Germany, Austria, Denmark and Luxembourg.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
