Today, the Nordic Open Banking infrastructure platform, Aiia, is launching its new payments services API to promote next-step payment solutions for millions of consumers and businesses across Europe.
As the goal of the European payment directive PSD2 is to create more competition and transparency in the financial landscape, we’re starting to see radical changes in the payment industry. To help businesses take advantage of the new payment opportunities, we’re super excited to announce our new payment service API, which is set to create cheaper and safer account-to-account payments. Now, companies from every industry can innovate new and more customer-centric payments solutions with one simple integration Rune Mai, CEO of Aiia says.
Aiia is one of the first API aggregators in Europe to create one simple payment solution that allows third-parties to build instant account-to-account payment services for both businesses and consumers. With the new payment initiation API, the aim is to help customers create seamless payments flows at a lower cost with reduced risks. This next step in real-time payments will redefine the payment industry radically, according to CEO, Rune Mai:
The demands from consumers and businesses in Europe and around Europe for instant account-to-account payments are fast arising, and we’re already seeing some really interesting third party solutions that will compete with traditional banks and card schemes to redefine and disrupt the payments industry as we know it. Our customers will be able to offer faster and more secure payments with substantial cost savings compared to the traditional card transaction fees. We believe this will be a win-win for both businesses and consumers. Rune Mai says.
The new payments services API will provide real-time account-to-account payments to enable the future of financial services for banks, merchants, and fintechs. With the vision to become the leading payment infrastructure in Europe, Aiia is at the forefront with an ecosystem that is connected to all Nordic bank accounts.
Aiia is close to announcing its first major customer using their payment service API in Europe and has been in touch with hundreds of companies across Europe ranging from banks to retailers.
Later this year, it’s expected that Aiia will expand its infrastructure to cover even deeper in the European market starting with the Netherlands
Founded in 2018 on the foundation of Danish fintech Spiir, Aiia is an open banking infrastructure platform supported by the Scandinavia's two largest banks, DNB and Danske Bank. The Nordic fintech scale-up is democratizing access to financial data and account-to-account payments through one simple API that connects to all Nordic banks on behalf of consumers and businesses. Aiia is building the eco-system of the future and infrastructure for companies from any industry that want to use financial data and simple payments to create new financial solutions in the era of Open Banking