Unzer unveils ‘Direct Bank Transfer’ based on Mastercard’s Open Banking infrastructure

Germany-based payment and software solutions provider Unzer has introduced ‘Direct Bank Transfer’, a new Open Banking payment method, as part of a collaboration with Mastercard.

Unzer’s ‘Direct Bank Transfer’ allows customers to pay directly from their bank accounts without needing a credit or debit card.

The new service has been available to merchants in Germany since January 2025, and works across all SEPA countries.

Unzer plans to roll it out to additional European markets later this year.

Transactions are processed via existing bank authentication systems, such as biometric verification.

For merchants, the Pay by Bank product addresses challenges such as card limits and fraud risk, while reducing the likelihood of declined transactions, according to Unzer.

The new Open Banking payment product is the first initiative following the company’s collaboration with Mastercard.

“With Unzer Direct Transfer, we’ve launched a simple and trustworthy payment method based on Mastercard’s Open Banking infrastructure,” 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 plans to offer a white-label option, so that merchants can customise the checkout process to align with their branding.

Pascal Beij, chief commercial officer at Unzer, added: “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.”

Mastercard Open Banking became the strategic Open Banking partner of Unzer in Germany, Austria and Denmark, in November last year.