Mastercard Open Banking has become the strategic Open Banking partner of payment and software solutions provider Unzer in Germany, Austria and Denmark.
By partnering, the aim is to “enhance” Open Banking account-based payments to deliver ecommerce payments across Unzer’s payment gateways.
Working together, Unzer and Mastercard will create a unified digital payment ecosystem by using Mastercard Open Banking-driven solutions to enable access to Pay by Bank, giving consumers more payment options at checkout.
Open Banking transactions are initiated through existing bank authentication processes, including biometric verification, which according to Mastercard Open Banking, makes the payment process both “straightforward and efficient”.
“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.”
Valérie Nowak, executive vice president, APEMEA Open Banking at Mastercard, 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.”
Last month, Mastercard introduced a new data command centre, ‘Mastercard Connect Plus’, that will give consumers control of where, how and with whom their financial data is shared.
Mastercard is piloting Connect Plus this year and intends to make it fully available in the US in 2025.
Further reading: Mastercard Open Banking expands income verification solution
