Mastercard and Unzer partner to drive open banking in Europe

By Gloria Methri

Unzer, a provider of payment and software solutions, has selected Mastercard as its strategic open banking partner in Germany, Austria and Denmark. The partnership aims to enhance open banking account-based transactions to power eCommerce payments across Unzer’s payment gateways.

Through this partnership, Unzer and Mastercard aim to create a unified digital payment ecosystem by leveraging Mastercard’s Open Banking-driven solutions, enabling access to pay by bank. These innovations will offer consumers more secure and seamless payment options, providing greater flexibility when making online purchases.

In contrast to traditional payment methods, open banking enables any bank account holder to make fast digital payments directly to a merchant. These transactions are initiated through existing bank authentication processes, including biometric verification, making the payment process both straightforward and efficient.

“At Unzer, we are committed to delivering the most integrated payment solutions, and our collaboration with Mastercard allows us to elevate that offering,” said Pascal Beij, Chief Commercial Officer at Unzer. “By tapping into Mastercard’s trusted open banking infrastructure, we can drive innovation and empower merchants with faster, more convenient payment experiences that meet the needs of today’s digital economy.”

“We are thrilled to drive the evolution of an account-based payment solution that will streamline online transactions, enhance security, and broaden payment options through our collaboration with Unzer,” said Valérie Nowak, EVP, APEMEA Open Banking at Mastercard. “For six decades  years, Mastercard has been safeguarding and powering the global payments landscape, and with our cutting-edge open banking technology, we are now offering consumers and businesses in Germany  even more flexible payment experiences.”