Open Banking · Europe · Available
Open Banking (UK) in the United Kingdom
Open Banking (UK) accounts for 12 % of e-commerce payments in the United Kingdom (Open Banking Limited, impact report, 2025). Payments are made in GBP; the method supports pay-in, payout, refund; settlement: instant; chargebacks: not possible. The payments regulator in the United Kingdom is Financial Conduct Authority (FCA). Providers for Open Banking (UK) in the United Kingdom in the Tranzify catalogue: Token.io, TrueLayer, Volt, Yapily.
Key facts
- share of e-commerce payments · United Kingdom
- 12 % (Open Banking Limited, impact report, 2025)
- Currency
- GBP (Pound sterling)
- Operations
- Pay-in · Payout · Refund
- Settlement
- instant
- Chargebacks
- not possible
- Payments regulator
- Financial Conduct Authority (FCA)
Providers for Open Banking (UK) in the United Kingdom
How a payment goes through
- 1The payer picks their bank on the checkout
- 2They approve the exact amount in the bank's app
- 3The licensed provider initiates the transfer over the instant rail
- 4Settlement in seconds; webhook to the merchant; no chargebacks
Other payment methods in the United Kingdom
| Type | Payment methods | share of e-commerce payments |
|---|---|---|
| Cards | Visa | — |
| Cards | Mastercard | — |
| Wallets | Apple Pay | — |
| Wallets | Google Pay | — |
| Bank transfers & instant payments | Faster Payments (UK) | — |
| Crypto | USDT (Tether) | — |
| Wallets | PayPal | — |
| Buy now, pay later | Klarna | — |
Frequently asked questions
Which providers offer Open Banking (UK) in the United Kingdom?+
In the Tranzify catalogue Open Banking (UK) in the United Kingdom is offered by Token.io, TrueLayer, Volt, Yapily. A client connects its own account with the provider as a terminal; routing and cascading between several providers are set up in the back office.
How widely is Open Banking (UK) used in the United Kingdom?+
According to Open Banking Limited, impact report, 2025, Open Banking (UK) has a share of 12 % of e-commerce payments in the United Kingdom.
Which operations does Open Banking (UK) support in the United Kingdom?+
Open Banking (UK) supports pay-in, payout, refund. Settlement is instant and chargebacks are not possible; the amounts are in GBP.
Who holds the licence for Open Banking (UK) in the United Kingdom?+
Tranzify is software. The licensed client, a payment institution, an acquirer or its partner, contracts with the providers and the merchants; the platform routes the payments, records them in the journal and reports them. The payments regulator in the United Kingdom is Financial Conduct Authority (FCA).
Articles about United Kingdom
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