Payments and Open Banking

Payment of the Future

Payments are increasingly cashless, and the industry’s role in fostering inclusion has become a significant priority. Cashless Payments also support the development of digital economies and drive innovation — all while functioning as a stable backbone for our economies. 

PwC support for Open Banking

PwC has developed a dedicated Payments, Cards & Open Banking practice that meets the needs of all financial and cross-industry players in the market, providing multidisciplinary support through a team of professionals with specialized expertise in each area of interest.

PwC's practice, which was established in the Financial Services sector to support banking players and operators specializing in the payment sector, has over time also developed into other market segments — including Insurance, Transportation, Energy, and Retail — achieving a comprehensive coverage of the market.

The EMEA Payments & Open Banking Centre of Excellence, in synergy with PwC's Payments Global Practice, accelerated the evolution, enabling the acquisition of solid knowledge and experience at the national and international level and turning ongoing market challenges into opportunities.

Palantir Global Alliance


Offer overview

Industry Merchant Aggregator Payment Networks  
Financial Services Acquirers Credit  
Retail Processors Debit  
Travel & Entertainment Issuers P2P  
Transportation Digital Wallet    
  Cards Providers    


  • Retailers
  • Travel & Entertainment
  • Healthcare

Merchant Aggregators

  • Acquirers
  • Processors
  • ISOs
  • Payfacts


Payment Networks

  • Credit
  • Debit
  • B2B
  • P2P
  • RTP

Cards and Consumer Payments

  • Credit
  • Debit
  • P2P
  • Wallets
  • Other

What we bring to the table

We know the industry

  • Embracing "fintech" and innovative approaches
  • Driving growth and operating performance
  • Digital Wallets
  • API as a platform leveraging open banking API's
  • Customer journeys in banking and finance apps
  • Shift of customers to cashless payments

We know the business needs

  • Process rationalization, efficiency and reengineering
  • Legacy and emerging payment technologies
  • Delivering on data and analytics
  • Customer journeys in banking and finance apps
  • Digital Transformation and payments modernization
  • Reduced risk and compliance exposure
  • Reduced revenue leakage and improved recovery

We can deliver

  • An IT payment strategy: This includes assessing the current situation, identifying opportunities for improvement and developing a roadmap
  • We can help clients develop and implement digital payment solutions, such as mobile payments, e-wallets, and peer-to-peer payments
  • We can assist in navigating the complex regulatory environment in the payments industry. This includes ensuring IT compliance with applicable regulations and standards, such as PSD2, GDPR, and Instant Payments

Our main areas of expertise

Payments and Open Banking

We offer innovation, management and optimization of the payment lifecycle because it involves various steps that must work perfectly in order to ensure security.

We leverage innovation so as to manage and optimize the payment lifecycle, including technical and security aspects. We develop new payment strategies or redesign existing ones in order to develop multibank systems and cross-border services.

Another aspect covered is that all the different processes must comply with the industry regulations (PSD2, PSD3, Instant Payments, SEPA).


We help the client in define new solutions that can facilitate customers' transformations – different products and customer segments optimization – and new operating model implementation.

We identify technology performance improvement programs with the aim of enhancing the competitive advantage and increasing the efficiency of the segment (cost saving).

Card payments and transactions must be processed in a secure, stable and quick way. Issuer, financial institutions, acquirer, merchants and customers – all parties involved in the value chain depend on process excellence. With an optimal card issuing process it is possible to create a truly differentiated customer experience at both physical and digital touch points.

Payment Services Directive 2

Payment Services Directive 2 enables bank customers to use third-party providers to manage their finances. As a result, customers can expect certain universal standards and protections when they make payments using their cards or mobiles, if they send or receive payments within the EU.

The aim of PSD2 is to:

  • Increase innovation through Access to Accounts (XS2A)​
  • Enhance security and reduce fraud through Strong Customer Authentication (SCA)​
  • Improve consumer trust as a result of banned surcharging

Payment Services Directive 3 

Facilitate cross-border payment solutions by creating more choice, more diversification, and strengthened resilience. ​

PSD3 also aims to create a regulatory framework to unify the fragmented approaches currently adopted by different EU member states.

The new regulations will therefore support the Retail Payment Strategy’s goal of facilitating cheaper international payments, adopting global messaging standards, and supporting links between payment systems in different jurisdictions. ​

Open API and technology platform

Open APIs allow us to use valuable data from banks and let us create our own interface that fits the customer’s needs. This way the client is free to choose and is not dependent on the bank’s system. As a further attraction, flexibility is provided with mobile banking API interface structures.

In addition, waiting for your transactions is a thing of the past, as we offer real time and instant payment implementations. These real-time service experiences are a driving factor in the industry across the world.

Security must be the number one priority in this field, which is why we provide 3DS (3-D Secure) and ACS (Access Control Server) integrations. 3DS is an added layer of security for online credit and debit card transactions while ACS allows authentication and authorization of transactions in real time.

Required fields are marked with an asterisk(*)

By submitting your email address, you acknowledge that you have read the Privacy Statement and that you consent to our processing data in accordance with the Privacy Statement (including international transfers). If you change your mind at any time about wishing to receive the information from us, you can send us an email message using the Contact Us page.

Contact us

Enzo Orsi

Enzo Orsi

Partner, Head of Financial Services Technology Consulting, PwC Austria

Tel: +43 699 16305209

Valeria Garofalo

Valeria Garofalo

Manager, PwC Austria

Tel: +43 676 833 773 142