What is Open Payments?

An API aggregator and platform as a service (PaaS) provider that will help you automate your banking needs with regards to account & transaction information and payment initiation. As an aggregator we simplify your connectivity to the network of banking, with one single API.

What is Open Banking?

The decentralization of banking services and information. Previously banks monopolized the industry, but with Open Banking the user will control and own their data and allow for other services to perform payments and collect account information on their behalf.

Is Open Banking secure?

Open Banking is very secure. Essentially as secure as your online banking. The Open Banking API endpoints have been built by the banks themselves and have been put through extensive testing by both the banks and the regulated third Parties like Open Payments. We are regulated by the Swedish FSA and we truly rely on the PSD2 directive set out by the EU. This means that we don't do any creative engineering or try to do shortcuts.

What is ISO and how is it combined with Open Banking?

ISO 20022 is a traditional ISO standard for electronic data interchange between financial institutions. If you already have a setup for ISO we can replace the process and combine ISO-data and provide all information as if it was Open Banking data. Access all data via one API and reduce cost and improve processes.

What is PSD2 and why should I care?

The second Payment Services Directive (PSD2) is the legal framework setting the standard for the banks to adopt to the Open Banking landscape. It incentivises the banks to provide open APIs for anyone with a valid license to connect to.

Do I need a license to use Open Payments banking solutions?

No, Open Payments is a licensed account information & payment initiation provider by the Swedish FSA. You can utilize our license free of charge, but if you are a licensed provider you can of course use your own license.

Do I need an authentication?

Open Banking is for your convenience and the owner of every account needs to authenticate initially for accessing data. With our PSD2-service no data is accessed without your authentication and you always know what sort of data that is provided. With Open Payments PSD2-solution this is done by the same process as you are used to, with the bank's standard process of authentication.

Why is Open Payments connected to Bankgirot in Sweden?

Bankgirot is a Swedish institution managing pay-ins & pay-outs and therefore provides data not accessible by banks or traditional Open Banking solutions. To be able to provide full access to your business account we are connected with Bankgirot and provides all data as if it was Open Banking data, in one single API.

How do I contact support?

You can contact support at support@openpayments.io

One API | Open Payments

One API

Endless opportunities

We are obsessed with building elegant, high-quality APIs and bank integrations, transforming legacy bank and payment infrastructure into state-of-the art products.

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One API

Open Payments connects you to multiple banks through one single unified API. This removes the complexity and frictions of many diverse integrations – saving both time and money. In other words, we are the empowering infrastructure behind your solutions. We have the solution for any FinTech, E-commerce, ERP system, subscription payment provider and other types of financial services.

The platform

Open Payments was founded in 2017 with the aim of being part of shaping open banking and the way we access and use financial services. Since then we have been developing our easy-to-use, secure and PSD2 compliant platform.

Based in Sweden

We are a Swedish VC funded start-up and one of the pioneers within PSD2 and what is referred to as Open banking. We provide a groundbreaking platform that gives you access to financial information and services so that you easily, securely and quickly can develop the best possible services for your customers and users – based on PSD2.

Licensed for you

We are licensed by Finansinspektionen, Sweden’s financial supervisory authority, and our secure and qualitative platform supports both Account Information and Payment Initiation for both corporate accounts and private accounts.

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Career

We are a fun and ambitious team with an office in the center of Stockholm - and are now growing our diverse team to support our expansion across Europe.

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