Open banking technologies are rapidly changing payment methods around the world, ushering us into a future of instant, secure, and simple payments. For example, in Europe, services like Satispay with over 5 million users and 380,000 merchants across Italy, France, and Luxembourg, and TWINT in Switzerland, with more than 6 million users and 773 million annual transactions, show how local innovation can transform national payment habits (1)(2). In Brazil, new open banking APIs enable contactless NFC payments directly from a bank account, without cards or apps. In India, 97% of all digital payments are processed through non-bank apps (3). These examples show how open banking can transform entire economies, making everyday payments faster, safer, and more affordable. At SSV SmartPay, we want to bring this same level of progress to the UK, helping businesses and consumers experience the simplicity and efficiency already reshaping the world’s financial landscape. The number of open banking users in the UK has exceeded 15 million (4). That confirms that we at SSV SmartPay are moving in the right direction.

Thanks to PSD2, which enables banks to provide secure access to customer data with their permission, fintech companies have been able to develop and create innovative payment and financial solutions. Since then, the open banking market has seen rapid growth. As of October 2025, open banking in Europe is showing steady growth, as businesses increasingly switch to direct bank transfers and implement Pay-By-Bank solutions. At a CAGR of 23.8%, open banking is projected to generate $44.9 billion in revenue.

Special momentum is observed in the instant bank payments segment: from October 2025, sending SEPA Instant payments will cost banks and PSPs the same as regular transfers, removing a key barrier to the widespread adoption of Pay-by-Bank and increasing competition with card-based schemes. Despite challenges such as standardization, increasing digital literacy, and building user trust, the market currently presents unique opportunities for us at SSV SmartPay to develop payment methods that are faster, safer, and more cost-effective than traditional ones (5)

Brazil is currently a leader in fintech and payment technologies. Residents can already transfer money easily and instantly, without fees, through the state-owned Pix system. Now, Brazil has begun implementing contactless payments through open banking, allowing users to pay directly from their bank account by simply holding their phone to a terminal, without cards or opening apps. Thanks to these innovations, banks, tech companies, and users are becoming part of a single ecosystem. These examples allow the entire world to follow this global trend and see how open banking technologies can make finance smarter, faster, and more accessible. We at SSV SmartPay are already doing this, demonstrating in the UK how the world of finance can change.

Global players such as eBay, PayPal, Amex, and Google have already realized that the future lies in instant account-to-account transfers without intermediaries and high fees, and they cannot afford to remain on the sidelines. Therefore, they have begun actively integrating open banking technologies into their payment solutions.  However, while these companies are focusing on scale, we at SSV SmartPay are focusing on accessibility and simplicity, helping small and large companies alike have access to open banking payment options.

SSV SmartPay built a payment system based on three key principles:

• Speed ​​- We enable instant payments between banks without intermediaries and delays. At the same time, we want to help businesses retain more profit by keeping fees as low as 0.5% per transaction with 20p min. 
• Security – Authorization occurs directly in the banking app or web portal, avoiding data transfer to third parties.
• Intelligence – We provide everything businesses need for simple transactions: payments by QR codes and links, e-commerce plugins, and a flexible API. And most importantly, SSV Smartpay scales to any size, from sole proprietors to large companies.

We work every day to advance the world of finance and help our clients maximize their profits and keep their customers satisfied.

Scan QR Code and download our app today, start accepting secure, fast and flexible payments, giving clients more control.
 

Sources: 

• (1) Antonio L.Escarzaga, EU-Startups, Article: Milan-based Satispay secures €60 million to expand its mobile payments and employee benefits platform
• (2) TWINT, Article: 773 million TWINT transactions: more sovereignty for users and merchants  
• (3) Light, Jeremy. Let Your Payment Flow: Contactless Account-to-Account Mobile Payments Without Opening an App. Substack, 25 Sep 2025. 
• (4) Open Banking (02.09.2025). Article:  2 Billion API calls and 15 Million users* – a landmark month for open banking in the UK 
• (5) Open banking in Europe: A 2025 market overview