Open banking is entering a new phase. What started as a regulatory initiative to improve competition and transparency is now reshaping how people pay, get paid, and manage their money. Today, in 2026, open banking is no longer just about accessing account data: it’s becoming the backbone of faster payments, smarter financial decisions, and more seamless digital experiences.
Regulation is playing a major role, from the expansion into open finance and the rollout of instant payments, to the emergence of digital identity frameworks like eIDAS 2.0. At the same time, consumer expectations are rising. People now expect payments to be instant, refunds to be immediate, and online journeys to be frictionless – regardless of the payment method they choose.
These shifts are pushing open banking out of the background and into the spotlight. For businesses, fintechs, and financial institutions alike, the question is no longer if open banking will deliver value, but where and how.
We’ll explore six essential open banking trends for 2026 – from the move towards open finance and instant payments, to real-world use cases that show how open banking is already delivering tangible impact today.
1. IPR is raising the bar for payments
The Instant Payments Regulation (IPR) is one of the EU’s most ambitious efforts to make payments faster, more transparent, and more reliable. While still being implemented, the first reporting by payment service providers (PSPs) is expected in April 2026, marking a key milestone in monitoring the regulation’s real-world impact.
So what does this mean for businesses and consumers? Simply put, instant is now the expectation. Pay by Bank, the account-to-account (A2A) payment method, is already gaining traction, thanks in large part to IPR. As Manfred Schulz, Head of Merchant Solutions at Brite Payments, explains:
“Previously, a bank transfer often involved a waiting time of one to two working days. Thanks to the Instant Payments Regulation, Pay by Bank payments are now processed within seconds – and that’s around the clock, even on weekends.”
This shift benefits everyone: businesses gain immediate payment certainty, can dispatch goods faster, and improve cash flow, while consumers enjoy instant confirmation that their order is secure. Media attention and initiatives like Wero are also raising awareness, making Pay by Bank a real alternative to credit cards and wallets.
Lena Hackelöer, CEO and Founder at Brite, adds that 2026 will be the year merchants start seeing payments as an ecosystem, not a battle:
“Instant transfers will become standard, but they won’t replace cards or wallets. Instead, they’ll sit alongside them, giving merchants new tools to manage costs and improve liquidity.”
Consumers, meanwhile, will expect the same speed and transparency across every payment type – from instant transfers to cards and wallets. To summarise, IPR isn’t just changing how we pay; it’s raising expectations for all payments, making speed, certainty, and transparency the new norm.
2. eIDAS regulation (eIDAS 2.0) verification and open banking
While eIDAS 2.0 doesn’t regulate payments directly, its impact on European e-commerce will be huge – especially when paired with open banking. By 2026, the revised framework will standardise digital identity, authentication, and trust services, creating a common foundation for frictionless online interactions.
At the heart of eIDAS 2.0 is the European Digital Identity Wallet (EUDIW): a secure, government-backed identity wallet that all EU Member States must make available by November 2026. For consumers, it’s a one-stop tool for storing and sharing verified identity attributes; for merchants, it promises faster and safer onboarding and payment flows.
Here’s where open banking comes in: combining the EUDIW with A2A payments can create seamless, near-instant checkout experiences. Verified credentials, such as IBANs, age confirmation, or proof of eligibility, can be used to securely pre-fill payment and verification fields, reducing friction and minimising fraud. Selective disclosure also ensures that consumers share only what’s necessary, protecting personal data while speeding up transactions.
The possibilities extend beyond security. Open banking and eIDAS 2.0 can enable smarter onboarding, personalised offers, and even more informed financial decisions. By linking trusted identity verification with real-time access to funds, merchants can offer smoother, safer, and faster payment experiences, giving consumers confidence and convenience in equal measure.
eIDAS 2.0 is the identity layer that finally brings payments and verification together, helping open banking payments reach their full potential in 2026.
3. Continued growth of Pay by Bank across all demographics
Pay by Bank, or A2A payments, is no longer just an early adopter trend: it’s becoming a mainstream payment method across Europe. Its growth is being driven by regulatory support like the IPR and by merchants seeking to reduce costs by bypassing card network fees.
Unlike traditional card payments, Pay by Bank settles funds directly into merchant accounts in real-time. That means orders can be processed immediately – payment is confirmed, not pending – which improves both operational efficiency and the customer experience. For businesses, this offers faster cash flow and reduced risk; for consumers, it delivers speed, simplicity, and security.
The numbers speak for themselves, with the German market being a prime example:
- 75% of users who have tried Pay by Bank plan to use it again.
- Key drivers for adoption include security (89%), low fees (88%), and ease of use (86%), with zero consumer fees and fast refunds being the most appealing features.
Through speed, cost efficiency, and regulatory backing, Pay by Bank is poised to expand further in 2026, moving beyond early adopters to capture mainstream acceptance across all demographics. Open banking is making A2A payments faster, cheaper, and more convenient than ever – and consumers are taking notice.
4. Instant refunds are becoming standard thanks to open banking-powered payments
As Pay by Bank and other instant A2A payment methods gain traction, consumers are starting to expect the same speed when it comes to refunds. Open banking-powered payments make this possible, allowing merchants to return funds immediately rather than waiting days for traditional card or bank transfers.
Providers like Brite have taken this a step further by separating the refund process from the original payment method. Using products such as Brite Instant Payouts, merchants can refund customers directly via A2A payment – even if the purchase was made by card or wallet. This flexibility improves customer satisfaction while streamlining operations.
The German market once again provides a clear example of rising expectations and adoption. According to our Online Payment Trends report 2025 for Germany:
- 43.6% of consumers expect to receive refunds within 60 seconds of initiating the process.
- Over 99% of SEPA Instant Payments are settled in seconds, demonstrating the stability and reliability of instant payment infrastructure.
With open banking enabling faster settlement, refunds are becoming nearly as instantaneous as purchases themselves. This yea,r instant refunds will no longer be a premium feature; they’ll be the standard consumers expect.
5. From open banking to open finance
For years, open banking has focused primarily on giving third parties secure access to current and savings account data. That’s about to change.
The biggest open banking trend heading into 2026 is the shift from open banking to open finance: a broader, more ambitious model of data sharing that reflects how people actually manage their money.
As regulatory frameworks mature, this transition is becoming unavoidable. In the UK, the Future of Payments (FDP) initiative is expanding beyond payments and accounts, while the EU’s Financial Data Access (FIDA) regulation is laying the groundwork for mandatory data sharing across a broader range of financial products. Together, they’re forcing the industry to think bigger than balances and transactions.
What’s new:
Open finance expands data access well beyond checking and savings accounts. With user consent, third-party apps will be able to tap into a person’s entire financial life – including mortgages, pensions, insurance policies, credit products, and investment portfolios.
In practical terms, this means financial apps no longer operate in silos. Instead of seeing just what’s in your bank account, they can understand how your debts, assets, and long-term savings interact.
Why it matters:
This shift unlocks what many in the industry call ‘whole of wealth’ visibility: rather than showing a snapshot of cash in and cash out, open finance enables platforms to build a full financial picture.
An app could spot that you’re sitting on low-interest savings while paying a high-rate mortgage and automatically suggest refinancing, overpayments, or smarter fund allocation to improve your overall net worth.
For consumers, this means more personalised, proactive financial guidance. For fintechs and financial institutions, it’s the foundation for a new generation of intelligent, outcome-driven products – not just tools that report data, but ones that actively help users make better financial decisions.
In short, open finance turns open banking from a data access framework into a value creation engine. And in 2026, that shift moves firmly from theory into reality.
Open banking trends and ‘data solutions’ are transforming and enriching payments
Open finance, powered by account information services (AIS), is taking Know Your Customer (KYC) beyond simple identity checks. By accessing customer‑consented data across accounts, transactions, loans, investments, and insurance, businesses can gain a fuller, real-time view of financial behaviour.
For lenders, this means faster, fairer, and more accurate decisions. AIS data supports smarter affordability checks, credit underwriting, and risk assessment – even for customers with thin or unconventional credit histories. Open banking data is no longer just about compliance; it’s a strategic tool for better customer insight and decision-making.
Learn more: Open Banking for Consumer Loans
6. Open banking is set to help deliver value across a range of use cases
By 2026, open banking is no longer just a payments upgrade: it’s a value engine powering smarter, more seamless experiences across entirely different industries. From donations and travel money to EV charging, open banking-powered payments and data solutions are proving their flexibility in real-world scenarios.
Driving donations with less friction
Charities and nonprofits often struggle with limited resources and heavy administrative workloads. Open banking, powered by AIS, is helping remove these barriers. Solutions like Brite’s Data Solutions help boost engagement by allowing organisations to securely retrieve donor bank account details (with consent), simplifying direct debit setup and improving transparency and compliance.
Nordic organisations such as the Swedish Heart Lung Foundation, Suicide Zero, and the Swedish Sea Rescue Society are already benefiting, alongside fundraising platforms like Octany. As Octany’s Co-founder and CEO Elise Hammarström explains, removing the need for donors to enter bank details manually can be the difference between securing a donation or losing it – a change that improved direct debit signup success by 24% in just one month.
Smarter travel money with Pay by Bank
Open banking is also transforming the way consumers purchase travel money. Through partnerships like Brite and FOREX, customers can now purchase foreign currency online using Pay by Bank, paying directly from their account via trusted bank authentication. There’s no need to enter card details or create new accounts: payments are instant, secure, and frictionless, making trip preparation simpler and faster.
EV charging goes open banking-native
EV charging is another area where open banking is gaining momentum. Companies like Monta and Northe are using open banking, AIS, and A2A payments to simplify charging payments, personalise experiences, and streamline operations for charge point operators. As EV adoption grows, open banking enables more sophisticated use cases – from reducing transaction complexity to connecting charging directly with utilities and employer reimbursement models.
Across all three examples, the pattern is clear. By removing friction, reducing costs, and using real-time data intelligently, open banking is quietly delivering tangible value – far beyond traditional payments – and opening the door to even more innovation in 2026 and beyond.
Looking ahead: Open banking moves from infrastructure to impact
By 2026, open banking will have firmly exited its experimental phase. What began as a regulatory push for safer data sharing is evolving into a practical foundation for faster payments, smarter decision-making, and enhanced customer experiences across various industries.
The common thread across all six trends is expectation. Consumers increasingly expect payments to be instant, refunds to be immediate, and onboarding to be frictionless. Merchants and financial institutions, meanwhile, are seeking ways to reduce costs, enhance liquidity, and foster trust – without introducing operational complexity. Open banking is uniquely positioned to deliver on both sides.
What’s also becoming clear is that open banking no longer exists in isolation. Its convergence with open finance, digital identity (eIDAS 2.0), and instant payment infrastructure is creating an ecosystem where payments, data, and verification work seamlessly together. The result isn’t just better payments – it’s better outcomes.
Looking ahead, the winners will be those who move early: businesses that treat open banking not as a compliance exercise, but as a strategic capability. As regulation matures and adoption broadens across demographics and use cases, open banking will quietly underpin some of the most meaningful innovations in financial services.
In 2026 and beyond, open banking won’t be the headline – it’ll be the standard.
Conclusion
Ultimately, open banking in 2026 is enabling smarter online payments and more seamless digital experiences.
If you would like to make the most of these latest open banking trends for 2026, then get in touch with Brite Payments experts today.
