Paytrail and Mastercard Partner on Open Banking Payments for E-Commerce

In July 2022, Paytrail and Mastercard announced a partnership to empower millions of open banking payments within the European e-commerce ecosystem. The collaboration leverages Paytrail's established payment platform and Mastercard's open banking infrastructure to provide merchants with account-to-account payment options alongside traditional card payments. The partnership aims to give consumers more payment choices at checkout while offering merchants lower-cost payment acceptance.

By integrating open banking payments into e-commerce workflows, the partnership represents an embedded finance play that bypasses traditional card rails for certain transactions. Mastercard's involvement underscores the card network's strategic pivot toward multi-rail payment capabilities including open banking. The partnership is expected to impact the Nordic and broader European e-commerce markets where Paytrail operates.

Financial terms of the partnership were not disclosed.