Over the past few years, Open Banking has been hailed as the future of payments in Europe. By allowing users to initiate a bank transfer directly from their account via secure APIs, it promised to reduce card fees, speed up transactions, and improve security.
And it works — in part. But if you’ve tried relying only on a classical Open Banking (PIS) solution for your payment flows, you’ve probably noticed the limitations.
This is exactly where Yowpay changes the game.
🔍 The Promise — and Limits — of Classical Open Banking
Open Banking PIS solutions excel in:
- Speed: Transactions can be near-instant in supported banks.
- Security: Authentication happens within the user’s bank environment.
- Cost: Lower fees than card payments.
But here’s the reality most merchants face when they use PIS as their only SEPA payment method:
1️⃣ Limited Market Coverage
Even in 2025, many consumers still prefer manual bank transfers or QR-based payments. PIS adoption is uneven across Europe — in some countries, it’s well under 30% of SEPA payment traffic.
2️⃣ No Universal User Experience
Not all banks have smooth Open Banking interfaces. A clunky or unfamiliar flow can lead to dropped checkouts.
3️⃣ Customer Behaviour Is Hard to Change
Many users stick to what they know — copying an IBAN into their bank app or scanning a QR code. PIS-only providers can’t capture those customers.
4️⃣ Reconciliation Gaps
Without built-in reference management, matching PIS payments to invoices or orders can still require manual work — especially when dealing with refunds, partial payments, or recurring flows.
💡 How Yowpay Completes the SEPA Payment Tunnel
Where a classical Open Banking provider offers one door into SEPA payments, Yowpay builds the whole house.
Yowpay supports all three SEPA payment initiation methods in one unified system:
- PIS (Open Banking) – instant, PSD2-compliant, secure.
- Manual SEPA – for users who want the classic copy/paste bank transfer.
- EPC QR Code – mobile-friendly, error-free, and fast.
The result? No customer is left behind. Whether they prefer an app connection, a manual input, or a quick scan, Yowpay gives them a seamless path to payment.
🔄 More Than Just Payment Initiation
Yowpay doesn’t just connect to the rails — it optimizes the entire payment journey:
- Smart Payment Links with unique references to ensure automatic reconciliation.
- Real-Time Tracking for both instant and standard SEPA transfers.
- Business IBANs for sectors that struggle with traditional banking, including regulated gambling, high-risk verticals, and cross-border commerce.
- Conversion Optimization by letting the customer choose their preferred method without leaving your branded checkout environment.
📊 The Competitive Edge
With classical Open Banking, your conversion rate is at the mercy of user familiarity and bank UX. With Yowpay:
- You capture more transactions by offering multiple SEPA entry points.
- You reduce operational costs by automating reconciliation and removing manual payment matching.
- You future-proof your payments by supporting instant SEPA, QR, and manual flows in one integration.
🔚 Final Thought
Open Banking was a big leap forward for SEPA payments — but it’s not the finish line. The future belongs to providers who combine technical coverage, regulatory compliance, and user choice.
That’s why Yowpay is needed: not to replace Open Banking, but to complete it.