Adyen Unveils an Open‑Banking Payment Revolution
Picture this: you’re buying a new gadget online, you pick a payment method, and without a single card swipe, the money just slides straight from your bank to the merchant. That’s the fresh twist Adyen is rolling out, and it’s officially live in the UK.
Why It’s a Big Deal
- Purely Open‑Banking – Uses EU’s PSD2 rules to call banks’ APIs directly.
- 99%+ reach – Connects to more than 90% of UK consumer accounts.
- No chargebacks – Payments are authenticated on the bank side, so fraud charges disappear.
- Instant settlements – Real‑time credit transfers let merchants ship products right away.
- Lower fees on big spend – The direct path cuts processing costs for high‑value transactions.
How It Works
During checkout, the shopper picks “Open‑Banking” as their payment choice. They’re then redirected to their bank’s own online banking portal. From there they confirm with whatever they use habitually—Face‑ID, Touch‑ID, or a password. The bank pushes the money straight to the merchant, and Adyen manages the whole flow behind the scenes.
Industry Voices
Myles Dawson, Adyen UK MD says, “We’re constantly looking to make payments smoother. Bank transfers in Europe already beat cards for fraud protection and friction, so we’re excited to bring this to the UK.”
Dan Goldlake, OBE, Open Banking Implementation Entity adds, “Another killer example of open banking spuring innovation. It streamlines payments and boosts collaboration between banks and merchants.”
First Big Player: KLM Royal Dutch Airlines
Major airline KLM is the first brand to adopt the new system. Pieter Groeneveld explains, “Launching in the UK—our most vital foreign market—lets our customers pick a safe, seamless payment method when booking flights or buying gear. We stay on the cutting edge of online payment.”
Ready to See It In Action?
Try the new open‑banking checkout on your next online purchase and feel the difference. No card needed, no extra fuss—just a smooth, secure transfer straight from your bank to the merchant.
