Open Banking Payments
Bank-powered payments. Smarter, faster, safer. Direct bank-to-bank transfers powered by Open Banking APIs.
Instant Payments via Open Banking
Connect to thousands of banks across the UK and Europe via Open Banking APIs. No cards, no delays, no hidden fees — just direct bank-to-bank transfers that settle in seconds.
- UK Faster Payments Service (FPS)
- SEPA Instant & SEPA Credit Transfer (EU)
- No card fees, no chargebacks
- Works with all major UK/EU banks
Get Paid Fast
Instant bank-to-bank transfers from your customers, directly into your account. Use across web, mobile, in-store, or SMS — wherever your customers are.
- Instant bank-to-bank transfers
- Use across web, mobile, in-store, or SMS
- Pay by Link, SMS Payment, QR Code
- eCommerce API integrated checkout
Global Reach
Regional capabilities spanning UK, EU, and Global markets. Knectd adapts to local payment rails so you can accept payments from customers anywhere.
- UK: Open Banking (PISP), QR, SMS via FPS
- EU: PSD2 Bank Transfer via SEPA Instant
- Global: Supported via partner bank rails
- Coming Q3-Q4 2026: expanded global coverage
Why Merchants Love Knectd
| Benefit | Description |
|---|---|
| No Card Fees | Save up to 80% on processing costs |
| Faster Settlement | Money lands in seconds, not days |
| Secure by Design | Bank-authenticated login, no card storage risks |
| Chargeback-Free | No reversals or disputes — ever |
| Compliance-Ready | UK FCA and EU PSD2 aligned infrastructure |
Common Questions About Open Banking Pay-ins
What is Open Banking and how does it work for payments?
Open Banking is a regulatory framework (PSD2) that allows authorised third parties to initiate payments directly from a customer's bank account. Instead of using card networks, Knectd connects to banks via secure APIs to process instant bank-to-bank transfers — eliminating card fees and chargebacks entirely.
How much can businesses save with Open Banking vs card payments?
Businesses typically save up to 80% on processing costs by switching from card rails to Open Banking. A merchant processing £10M annually could save £150,000–£250,000 per year, as Open Banking bypasses interchange fees, scheme fees, and acquirer margins.
How fast do Open Banking payments settle?
Open Banking payments via Knectd settle in seconds, not days. UK transactions use Faster Payments Service (FPS) for near-instant settlement, while EU transactions use SEPA Instant for sub-10-second clearing across the eurozone.
Ready to accept instant payments?
Get started with Knectd Open Banking today. No card fees, no chargebacks.