Mastercard has announced a partnership with UK fintech provider Cardstream to extend Open Banking payments within Cardstream’s Payment Facilitator-as-a-Service (PFaaS) platform. This initiative, revealed on 1 August 2025, is aimed at enabling merchants and retailers across the UK to accept Single Immediate Payments (SIP) directly from customers’ bank accounts, broadening payout and deposit options beyond standard card networks. The solution leverages Mastercard’s secure Open Banking technology and prepares for commercial variable recurring payments expected to roll out in late 2025, following regulatory clarification.
Cardstream’s enhanced platform will allow for the processing, collection, and disbursement of open banking transactions more efficiently. UK players and operators may benefit from faster settlements and reduced transaction fees, as immediate bank-to-bank payments remove the delays typically associated with traditional card withdrawals. Support for variable recurring payments, due in 2025, will further enable direct payment of regular bills—such as subscriptions or gaming deposits—straight from a customer’s account.
- Key facts:
- Cardstream’s PFaaS now supports secure Open Banking integrations powered by Mastercard.
- Single Immediate Payments (SIP) available for merchants; recurring payment support coming in 2025.
- Open Banking offers lower fees and quicker liquidity compared to card-based transactions.
| Feature | Benefit | Timeline |
|---|---|---|
| Single Immediate Payments | Quicker merchant payouts | Q4 2025 |
| Variable Recurring Payments | Direct bill/recurring withdrawals | Regulatory approval, late 2025 |
| Open Banking Security | Seamless, bank-level authentication | Ongoing |
Adam Sharpe, CEO of Cardstream, noted: “There’s strong demand for open banking payments as a secure and convenient way to pay alongside cards. We’ve long collaborated with Mastercard on innovations like network tokenization and Click to Pay, and we’re excited to offer a turnkey solution that lets payment providers launch branded Open Banking Merchant Services quickly.” Valerie Nowak, Executive Vice President, Head of Open Banking, APEMEA at Mastercard, added: “The open banking market is set for significant growth in Europe. Our commitment is to foster an innovative, accessible, and secure payments ecosystem. By empowering Cardstream, we can support both issuing and acquiring customers with a comprehensive open banking solution and thereby enhance payment choice for their customers.”
The move underlines a growing trend towards faster, more flexible payments in both retail and online casino environments. For further information, see Mastercard’s official announcement here.
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