Pay iO Brings You this Week’s Open Banking News Stories

LeoVegas, the online casino operator, is now accepting payments via open banking in the UK and will roll this out to European markets in the near future. They are the first in the gaming industry to enable open banking payments via their platform and already have ten per cent of new customers depositing money in this way. This decreases transaction fees for the operator and improves the customer experience. 

Latvia-based Nordigen is now offering its open banking API mostly for free, with certain paid services. Nordigen believes other aggregators are charging too much so will offer account information for free and further analytics at a fee. The fintech currently gives access to three hundred banks in Europe which is between sixty and ninety per cent of the population of each country. 

Railsbank, the open banking platform has hired Louisa Murray as its Chief Operating Officer for the UK and Europe. MiddleGame Ventures and Ventura Capital recently led a $37m growth funding round for Railsbank. Murray has more than thirty years experience in financial services and has been named as a ‘Rising Woman in Crypto’ by Wirex and the Fintech Times. 

ECOMMPAY, the PSP and direct bank card acquirer has launched its solution ‘Open Banking by ECOMMPAY’ into Europe. Customers will now be able to connect to over four thousand banks in twenty-eight European countries. Merchants receive payments securely, in real-time and without having the additional cost of card fees. The process is fast and efficient and can be customised depending on the market.