Neonomics Launches Open Banking Checkout Solution in Finland

Open banking provider Neonomics has launched its new online checkout solution in Finland.

The Oslo-based FinTech announced the expansion of its open banking-powered payment solution in a blog post on Tuesday (Feb. 7), stating that eCommerce merchants in Finland will now be able to integrate its account-to-account payments solution, which was previously only available in Norway.

The company added that it intends to roll out the checkout solution across the Nordics in the coming months.

“Our new Checkout product is truly what’s going to take open banking to the next level,” Neonomics Head of Product Nils Christian Roscher-Nielsen said in the announcement. “Now any business can easily leverage open banking in their payment experience by simply adding it to your payment options using just a few lines of code.”

The company’s aim in developing the new offering, he said, “was to keep all the benefits of open banking; security, low cost and combine it with the ultimate design-driven user experience.”

As PYMNTS has reported, Europe’s open banking platforms have expanded across the continent as the field has matured and consolidated. For example, Trustly recently finalized its acquisition of Ecospend as it looks to expand in the U.K.

Because firms like Neonomics rely on being able to connect to different banks’ application programming interfaces (APIs), it has taken several years of partnerships and mergers for the space to reach its current level of connectivity.

For example, French payment service provider Worldline expanded its own open banking coverage by teaming up with Neonomics in November.

As PYMNTS reported at the time, the partnership will allow Worldline to expand its account-to-account payments and data aggregation coverage to the Nordic region including Norway, Sweden, Denmark and Finland.

In a press release announcing the team-up, Worldline said the collaboration with Neonomics puts the two companies on track to become “the first pan-European pure PSD2 API providers,” with a combined reach of 3,500 banks in 22 European countries.

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