Paytently and Mastercard unveil new Open Banking solution

Source: Mastercard

Paytently, the specialist payments orchestration platform, has launched Paytently Open Banking powered by Mastercard Open Finance, an account-to-account payment option at checkout that lets customers pay directly from their bank and helps merchants increase conversion rates and improve cash flow.

This comes as Mastercard research shows that more than three-quarters of consumers in leading markets already use Open Banking, fuelling demand for instant, account-to-account payments at checkout, giving merchants with “Pay by Bank” functionality a competitive edge.

Leveraging Mastercard’s Open Banking connectivity and Paytently’s orchestration layer, Paytently Open Banking streamlines payments end-to-end, bringing secure bank authentication, payment initiation, and enhanced reconciliation within a single flow for greater operational efficiency. Paytently’s proprietary orchestration engine routes each transaction over the most effective rail for instant payment confirmation and faster settlement.

“This collaboration with Mastercard marks a significant step forward in our mission to deliver robust, scalable payment solutions for sectors that demand more from their payments partner,” said Samuel Barrett, co-founder and chief executive officer of Paytently.

“By combining our orchestration expertise with Mastercard’s Open Banking technology, we’re enabling merchants to move money faster, reduce operational friction, and ultimately create a more seamless experience for their customers.”

“Our collaboration with Paytently brings the benefits of Open Banking payments to more merchants who value speed, transparency, and flexibility in their transactions,” said Valerie Nowak, executive vice president, head of Open Finance APEMEA at Mastercard.

“By combining Mastercard’s secure Open Finance infrastructure with Paytently’s expertise in complex payment environments, we’re enabling businesses to offer their customers another trusted and seamless way to pay.”

The partnership reflects a strong alignment between Mastercard’s global scale and secure Open Finance infrastructure, and Paytently’s agility and expertise in orchestrating payments for various sectors. Together, they are bringing an advanced Open Banking payment solution to market that delivers on speed, reliability, and customer experience.

Further reading: Mastercard unveils A2A payments sandbox in the UK