PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Nets and OpenWay Collaborate on Monetization of PSD2 and Open Banking

By PaymentsJournal
December 14, 2017
in Press Releases
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Nets logo

Nets logo

14 December 2017 –  Nets, the Nordic digital payments specialist, and OpenWay Group, the leading digital payment software developer and vendor, today publish a white paper for stakeholders seeking to monetize from PSD2 and open banking.

The paper is entitled “PSD2 Consumer Solution: for payment players adopting PSD2 as a step towards Open Banking services & revenue streams”. It explores stakeholder opportunities in open banking and addresses key business challenges presented by shifting consumer mentalities and expectations. It also highlights the conventional and emerging monetization drivers relevant to PISPs, AISPs and ASPSPs.

The authors propose a new concept, the ELASTIC user journey, which defines what consumers expect from a service provider at each stage in their payment experience. The paper also explains how an open banking architecture can deliver against these requirements.

Banks, merchants and other PSPs can use the checklists from this white paper to assess their readiness for PSD2 and open banking.

 The core idea of the white paper is that providing digital interfaces to well-established banking services and complying with evolving regulations is no longer sufficient to stay competitive in the market – it is the service offering that matters. For any service provider, one of the key objectives is to provide fast customer onboarding and promote spending on the basis of the enhanced service cycle.

“As the industry moves towards open banking, we can predict changes in the revenue dynamics of credit-based products,” comments Tuomas Nenonen, CMS Product and Business Development, Nets. “Banks will benefit greatly if they are able to transition from the product paradigm towards thinking holistically about credit line/liquidity management. Today ‘credit’ usually means cards or loans, but in the future credit will be distributed easily across different products. The new credit offering will also enable higher revenues by being able to carry different flexible fees and interests.”

“Payment processors are well-positioned to provide a complete solution that is both PSD2-compliant and open banking-oriented,” adds Alexander Tikhomirov, Business Development, OpenWay Group. “Banks and merchants can manage the early-adopter risk by leveraging the processors’ technological leadership and market knowledge. As for OpenWay, we are supplying the innovative WAY4 platform that supports Nets in their mission to deliver maximum benefits to their customers: PISPs, AISPs and ASPSPs.”

 The white paper, PSD2 Consumer Solution: for payment players adopting PSD2 as a step towards Open Banking services & revenue streams, is available for download without charge here.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: NetsOpen BankingPSD2

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    ai phishing

    The Fraud Epidemic Is Testing the Limits of Cybersecurity

    February 6, 2026
    stablecoins b2b payments

    Stablecoins and the Future of B2B Payments: Faster, Cheaper, Better

    February 5, 2026
    Payment Facilitator

    The Payment Facilitator Model as a Growth Strategy for ISVs

    February 4, 2026
    Simplifying Payment Processing? Payment Orchestration Can Help , multi-acquiring merchants

    Multi-Acquiring Is the New Standard—Are Merchants Ready?

    February 3, 2026
    ACH Network, credit-push fraud, ACH payments growth

    What’s Driving the Rapid Growth in ACH Payments

    February 2, 2026
    chatgpt payments

    How Merchants Should Navigate the Rise of Agentic AI

    January 30, 2026
    fraud passkey

    Why the Future of Financial Fraud Prevention Is Passwordless

    January 29, 2026
    payments AI

    When Can Payments Trust AI?

    January 28, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result