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Progress In Open Banking: MasterCard Introduces Pay By Link

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Big news, European open banking has gotten a massive boost. There is now a bigdebut of MasterCard’s Pay by Link payments on Aiia. Aiia is a leading open banking platform in Europe. Now, with the Pay by Link payment feature, customers can now pay businesses with a payment link. Pay by Link will begin in the Nordic regions first. Other parts of Europe will get it by the end of the year.

Still on open banking, Tink, an open bank platform and the Revolut Fintech app and joining forces. Revolut customers in Europe will soon be able to transfer cash into their Revolut accounts easily. They will do this using Tink’s PIS or payment initiation tech. This will allow the further penetration of open banking in Europe as the PIS tech allows customers to transfer from any bank account using the Revolut app.

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