Open Banking for Marketplaces & Platforms (2026)

Marketplaces use payment initiation (PIS) to let buyers pay directly from their bank at checkout (pay by bank), which is cheaper than cards and reduces chargebacks, and to push instant payouts to sellers. Account information (AIS) verifies that a seller owns the payout account during onboarding. Together these reduce fees, fraud, and reconciliation effort.

Choose a PIS-capable aggregator with strong bank coverage in your buyer and seller markets. TrueLayer, Tink, Yapily, GoCardless, and Volt all support payment initiation across the UK/EU; the best fit depends on your markets, payout needs, and whether you also want account verification. Validate settlement timing and target-bank support in each provider’s sandbox.

Usually yes — account-to-account payments via open banking avoid card interchange and scheme fees, and there are no card chargebacks. The trade-offs are buyer familiarity and that refunds/disputes work differently from cards, so many marketplaces offer pay by bank alongside card options.