How to leverage PSD2, Open Banking, and Account-to-Account payments to reduce transaction costs and boost conversion.
savings vs cards
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Direct payments from a bank account — no cards, no acquirer, no chargebacks.
The payer authorizes the transfer directly in their banking app. Funds arrive in the merchant's account with no intermediaries.
Unlike card payments, bank transfers via Open Banking are not subject to chargeback procedures — funds are protected.
Without interchange fees and card scheme costs, transaction fees drop by 50–80% compared to card processing.
A single API for Open Banking across multiple jurisdictions.
Integrate once and accept A2A payments from European banks (PSD2), UK banks (OBIE), and other regions through a single interface.
Offer Open Banking by default and card processing as a fallback. Lower cost, full coverage.
A webhook with the payment status arrives within seconds of bank authorization. Goods can be shipped immediately.
PSD2 in Europe, OBIE in the UK, similar initiatives in Brazil, Australia, and Saudi Arabia — Open Banking is becoming a global standard. For PSPs, this isn't a threat but an opportunity: those who offer A2A payments alongside cards gain a competitive edge through lower fees and higher conversion.
The key advantage of A2A payments is cost. A card transaction includes interchange fees, scheme fees, and acquirer commissions. A bank transfer via Open Banking bypasses all these layers: money goes directly from the payer's bank to the payee's bank. For merchants with thin margins — e-commerce, marketplaces, subscription services — this can be the deciding factor.
That said, Open Banking doesn't fully replace cards — it complements them. The optimal strategy for a PSP: offer A2A as the preferred method (explaining the savings) and cards as a fallback. 4Pay.online lets you implement this strategy through a single API: one request to create a transaction, and the system decides — card or Open Banking — based on routing configuration.
Three setup wizards. The operator completes them without development work.
Registering a third-party provider on your side: roles, standard, eIDAS certificates and OAuth2 keys.
The client's consent: scope of rights, accounts and validity period — with explicit authorisation or rejection.
Connecting your organisation to another bank as an AISP or PISP, with a test consent before going live.
A consent is not a formality but an object with its own lifetime: the platform revokes access when it expires and keeps a log of every access to client data.