Request to pay by TPP

1. Consumer gives consent to data sharing while purchasing a product and agrees to pay the merchant via Request to Pay

2. Merchant forwards the request to the TPP integrated with the Acquirer

3. TPP receives merchant account details from the Acquirer

4. TPP initiates the payment request to the consumer’s bank .

5. Issuer receives the consumer’s authorization and completes the payment

6. Acquirer receives the payment into the merchant’s account

Trustly is a European Payment Initiator Service Provider (PISP) integrated with the Acquirer. Trustly’s A2A payments embed into TPP apps, enabling online merchants to add Trustly as a payment option for consumers.

Streamlined account opening

1. Consumer consents to data sharing

2. Merchants, marketplaces, o credit bureaus, and other Fis consent to data sharing

3. TPP aggregates consumer data and shares validated consumer information with Acquirer

4. Merchant requests Information from an Acquirer and receives authenticated consumer payment data

5. Merchant sets up an account for the consumer and prefills payment information

6. Consumer uses the new account to make a purchase

BaaS

1. Acquirers provide financial services, including merchant lending, and shares services over APIs

2. BaaS platform provider (payment aggregator; e.g. Stripe) receives lending services from various banks and bundles them to extend lending services on behalf of the banks

3. Distributor (e.g. Shopify) embeds the lending services, offering an integrated credit experience for merchants.

Payment initiation service providers

Users of payment initiation service providers (PISPs) growth is expected based on forecasts, with payment use cases gaining popularity. Payment ecosystem players including PISPs and Banks are exploring many payment use cases, including account reloads/first-time top-ups, account-to-account (A2A) payments, bulk payments, invoicing for small and medium-sized enterprises (SMEs), person-to-person (P2P) payments, and payments links

• PSP payment apps: e.g. Vibe
• A consumer using a card number to recognize a user’s account number to initiate an A2A payment : e.g. Volt.io
• Real-Time payments-based A2A (Consumers and Merchants) platform: e.g. Zepto and RealNet

Premium APIs

API marketplaces: e.g. Barclays, BBVA, Capital One

E-KYC

Digital KYC: e.g. Sugnzy and True Layer

Credit scoring

• Credit solutions such as credit verification (e.g. Zilch) and credit score checks (e.g. Credit Kudos)
• Solutions to check customer financial history (e.g. Basiq) and income (e.g. Frollo)

Sustainable Finance

• Meniga carbon footprint solution
• Switch Automation energy efficiency analysis

Banking as a Platform

• Revolut and Fuzo offer multiple services, including Crypto trading
• N26’s partnership with a loan marketplace

Banking as a Service

• Goldman Sachs and JP Morgan are offering BaaS to help smaller banks and enable transaction banking and treasury management
• Standard Chartered, BBVA, Railsr, Green Dot, Synctera and Starling Bank offer BaaS platforms and enable a full suite of consumer bannking products