Let’s face it—card payments are becoming more of a headache for UK businesses. Rising processing fees, delayed access to your own money, and the constant threat of chargebacks mean it’s time to start looking elsewhere. That’s where open banking comes in. It allows customers to make direct, secure account-to-account payments—no card networks, no middlemen. For businesses, that means lower fees, faster settlements, and more control over cash flow.
What’s helped fuel this shift is the rise of API-based banking, which has made it easier than ever to share financial data securely and build better customer experiences. According to a Deloitte report on open banking, this infrastructure has become a launchpad for creating valuable, data-driven services that are transforming the way businesses operate.
Here’s a look at five standout open banking payment providers in the UK in 2025—and how they stack up depending on your business needs.
1. Atoa
Atoa is one of the most exciting entrants in the open banking space—designed specifically for UK businesses that are tired of card fees and chargeback risks. Instead of relying on card networks, Atoa enables fast, secure bank-to-bank payments that settle in real-time.
What makes Atoa stand out is its focus on simplicity and customer experience. You can collect payments through QR codes, SMS links, or even integrate Atoa into your invoices and accounting platforms like Xero, Sage, and QuickBooks. There’s no need for a merchant account, and setup is refreshingly quick.
Atoa is especially well-suited to businesses in hospitality, retail, travel, and professional services, where fast turnaround and smooth service matter. You also get access to smart features like a Google Reviews booster that prompts happy customers to leave feedback after they pay.
2. TrueLayer
TrueLayer is a recognised leader in open banking infrastructure, and it’s often the go-to choice for fintech companies, travel agencies, and ecommerce businesses. Rather than offering a ready-made payment app, TrueLayer gives you the building blocks—powerful APIs that let your development team create tailored payment experiences.
It’s a highly scalable option that supports features like instant bank transfers, account verification, and recurring payments. However, it does require a team with technical know-how to fully implement and maintain.
If you’re a high-growth company or a business looking to control every aspect of the user journey, TrueLayer offers unmatched flexibility.
3. Yapily
Unlike consumer-facing providers, Yapily works more behind the scenes. It’s a true infrastructure player, giving other fintechs, platforms, and banks the tools to build their own open banking experiences.
Yapily is ideal for large enterprises or SaaS companies needing deep connectivity to banking APIs across the UK and Europe. It supports everything from real-time payments to international expansion and recurring billing.
That said, Yapily isn’t designed for smaller businesses looking for a plug-and-play solution. You’ll need technical resources and a clear integration plan—but if customisation is a priority, it delivers.
4. Crezco
Crezco focuses on streamlining B2B invoice payments—an area often overlooked in the race to modernise payment flows. It’s a great fit for small to mid-sized companies that issue lots of invoices and want to get paid quickly without relying on card processors or slow bank transfers.
Crezco integrates directly with popular invoicing tools, enabling payers to settle invoices via open banking at the click of a button. Finance teams will appreciate the automatic reconciliation and user-friendly dashboard.
It’s especially useful for businesses in sectors like recruitment, construction, and consulting, where managing cash flow and reducing admin can have a big impact.
5. GoCardless
GoCardless is well known for helping businesses collect recurring payments via Direct Debit. But more recently, it’s embraced open banking through its Instant Bank Pay feature, allowing for one-off, real-time transactions as well.
This makes GoCardless a smart option for businesses that already rely on it for subscriptions or billing and want to add real-time payment capabilities without switching systems. It also offers strong integrations with CRMs, billing platforms, and accounting tools.
While it may not have the full feature set of newer open banking-first providers, it’s a solid choice for existing users who want to expand their options.
Open banking payment providers at a glance
Here’s a quick comparison to help you decide which one might be right for your business:
| Provider | Best for | Fees | Settlement time | Integration level |
|---|---|---|---|---|
| Atoa | Mid-sized or large UK businesses | Lower than cards | Instant | Plug-and-play with tools |
| TrueLayer | Fintechs & marketplaces with dev teams | Competitive | Near-instant | Requires developer support |
| Yapily | Enterprises needing infrastructure | Varies | Same-day or faster | API-first, dev-heavy |
| Crezco | B2B businesses with high invoice volume | Lower than cards | Same-day or next-day | Strong with invoicing platforms |
| GoCardless | Existing users needing open banking add-on | Competitive | Real-time (Instant Bank Pay) | Excellent with CRMs & accounting tools |
How to choose the right payment provider
Choosing the right provider comes down to your business needs, the types of payments you collect, and how much flexibility you require. Here are a few helpful questions to consider:
- Do you need instant settlements to keep your cash flow healthy?
- Are you primarily collecting one-off payments or recurring invoices?
- Do you want something that’s ready to use out of the box, or a more customisable platform for your developers?
- Are you trying to reduce processing fees or avoid chargebacks entirely?
There’s no one-size-fits-all answer. Some providers are ideal for platforms with in-house tech teams, while others are perfect for finance or hospitality businesses looking for a straightforward alternative to card payments.
Final thoughts
Card payments have served their purpose but they’re no longer the only option. With open banking, UK businesses now have access to faster, more affordable, and more secure ways to get paid. Whether you’re running a restaurant group, a growing consultancy, or a digital-first retail brand, open banking can help you streamline payments, improve cash flow, and reduce admin. And as customer expectations continue to evolve, choosing the right payment partner could be one of the smartest business decisions you make this year.
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