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OpenPayd is a London-based banking-as-a-service platform that provides financial services for businesses through a single API.

History

OpenPayd was founded in London in 2018 by Ozan Özerk, the founder of European Merchant Bank and Eurotrader. It initially focused on payments and banking for businesses through modular technology and a global license network. The company expanded its operations internationally, opening offices in Malta, Bulgaria, Turkey, and France. In 2020, OpenPayd launched banking and payment services for digital currency businesses, allowing to access banking and payment networks.

In 2022, OpenPayd began offering Open Banking across the UK and Europe. In 2023, OpenPayd was "Highly Commended" in the Paytech Company of the Year category at the Fintech Awards London. In early 2024 it partnered with TrueLayer to expand its Open Banking capabilities.

Operations

OpenPayd is listed as SettleGo Solutions Ltd and operates under the name OpenPayd. It is authorised and regulated by the Financial Conduct Authority (FCA) as an Electronic Money Institution in the UK. OpenPayd Financial Services Malta Limited is authorised and regulated by the Malta Financial Services Authority as a Financial Institution across Europe. Businesses use OpenPayd to send and accept payments across multiple methods and currencies, to hold and manage funds in accounts, e-wallets, and virtual IBANs, and to perform foreign exchange services.

OpenPayd gives access to Faster Payments, SEPA, SEPA Instant, SWIFT, CHAPS, Bacs, ACH, PIX, Fedwire, etc.

The platform serves various industries, including financial services, iGaming, brokerage, and digital assets. Customers include eToro, Crypto.com, OKX, Libertex, B2C2, Bitfinex and Caxton. OpenPayd processes over €70 billion in annual payment volume.

References

1. Towner, Lauren (2024-11-06). "Dr. Ozan Ozerk Spoke at 'Fintech Forward' about Embedded Finance's Progress and Potential". FF News | Fintech Finance. Retrieved 2024-12-27.
2. England, Joanna (2022-04-27). "OpenPayd Founder on BaaS Trends & new Marketplace Challenges". fintechmagazine.com. Retrieved 2024-12-27.
3. "OpenPayd: Fintech's Sharpest Swiss Army Knife - FinanceFeeds". 2023-06-05. Retrieved 2024-12-27.
4. Barsy, Thibault de (2019-04-04). "Ozan parent brand, OpenPayd launches with a mission to 'Unlock Banking'". thepaymentsassociation.org. The Payments Association. Retrieved 2024-12-27.
5. "The People of Fintech: Medical Doctor & Serial Fintech Entrepreneur Ozan Özerk". Euro Weekly News. 2023-06-05. Retrieved 2024-12-27.
6. "OpenPayd unveils crypto banking and payments proposition amid unprecedented sector growth". thepaymentsassociation.org. The Payments Association. 2020-07-10. Retrieved 2024-12-27.
7. "Yapily and OpenPayd join hands to meet soaring demand for embedded finance in the UK". Tech.eu. 2022-06-06. Retrieved 2024-12-27.
8. "2023 Awards". Fintech Awards London 2024. Retrieved 2024-12-27.
9. "OpenPayd: Fintech's Sharpest Swiss Army Knife". FinanceFeeds. 2023-06-05. Retrieved 2024-12-27.
10. Williams, Callum (2022-08-30). "A Payments Nirvana is 'an absolute endgame for payments'". paymentexpert.com. Retrieved 2024-12-27.
11. "The People of Fintech: Medical Doctor & Serial Fintech Entrepreneur Ozan Özerk". Euro Weekly News. 2023-06-05. Retrieved 2024-12-27.
12. "OpenPayd: Fintech's Sharpest Swiss Army Knife - FinanceFeeds". 2023-06-05. Retrieved 2024-12-27.
13. Browne, Ryan (2024-06-13). "Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say". CNBC. Retrieved 2024-12-27.
14. Browne, Ryan (2021-07-22). "Blockchain start-ups raised a record $4.4 billion in the second quarter despite the slump in crypto prices". CNBC. Retrieved 2024-12-27.
15. "OpenPayd Partners With Social Investment Platform eToro for Near-Instant Payments". PYMNTS.com. 2022-09-27. Retrieved 2024-12-27.
16. Orme-Claye, Ted (2024-06-04). "Embedded finance rising value laid bare by OpenPayd growth". Retrieved 2024-12-27.
17. Watson, Melania. "OpenPayd's annual recurring revenue tops GBP £40 million". IT Brief UK. Archived from the original on 2024-06-08. Retrieved 2024-12-27.
18. "B2C2 partners with OpenPayd". thepaypers.com. Retrieved 2024-12-27.
19. "Bitfinex Enables Instant Euro Payments with OpenPayd Partnership". Financial and Business News | Finance Magnates. 2022-04-14. Retrieved 2024-12-27.
20. "Caxton and OpenPayd augment payments with embedded finance infrastructure". thepaypers.com. Retrieved 2024-12-27.
21. "OpenPayd Doubles Growth and Reaches Profitability - Fintech". thepower50.com. June 11, 2024. Retrieved 2024-12-27.

• Financial technology companies
• Companies established in 2018
• Companies based in London