TrueLayer handles more than USD 150 billion in annualised payment volume. EU payment rules reached Council position on 5 November 2026.
Why this market is moving now
- The EU's new Payment Services Regulation reached Council position on 5 November 2026, with a plenary vote indicated for 14 December 2026.
- EU lawmakers agreed the PSD2 review on 27 November 2025, which sets new open banking rules for providers in the EU.
- Card networks are building open banking payments, with Visa scaling Tink to thousands of bank connections by September 2026.
- Pay by bank volumes are growing, with TrueLayer reporting more than USD 150 billion a year.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| Plaid's platform supports over 12,000 financial institutions and over 9,000 digital financial services built on it. | 12,000 financial institutions (over) | 2026 | |
| Plaid handles over one million daily connections with financial institutions across 20 countries. | 20 countries | 2026 | |
| TrueLayer handles more than USD 150 billion in annualised payment volume and more than 30 million consumers in its pay by bank network (company figures). | 150 USD billion annualised payment volume (more than) | 2026 | |
| Tink, the open banking platform owned by Visa, advertises 6,000 bank connections. | 6000 connections | 2026 | |
| Since acquiring Tink in 2022, Visa has scaled its open banking payments network to thousands of bank connections, mainly in Europe and Latin America. | 2022 year Tink was acquired | 2026 | |
| About 2,000 banks and institutions integrate with Yapily's platform across 19 countries. | 2,000 banks and institutions | 2026 | |
| The European Parliament and the Council reached political agreement on the PSD2 review, the new Payment Services Directive and Payment Services Regulation, on 27 November 2025. | 27 November 2025 | 2025 | |
| The Council position on the EU Payment Services Regulation was published on 5 November 2026, with a second-reading plenary vote indicated for 14 December 2026. | 14/12/2026 indicative plenary date | 2026 | |
| The EU Financial Data Access (FIDA) proposal, which would extend data sharing beyond payment accounts, was still awaiting Parliament's first-reading position in November 2026, with no event listed after 18 December 2024. | 18/12/2024 date of last listed event | 2026 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
Plaid
Data network supporting over 12,000 financial institutions across 20 countries.
Tink (Visa)
Open banking platform bought by Visa in 2022, with 6,000 advertised connections.
TrueLayer
Pay by bank network with more than 30 million consumers and over USD 150 billion annualised volume.
Yapily
Open banking API provider covering about 2,000 banks in 19 countries.
Mastercard
Runs an open finance platform that lets data providers and third parties access permissioned consumer and small business data (
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
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Frequently asked questions
How big is the global open banking market?
The largest platforms show its scale. Plaid supports over 12,000 financial institutions across 20 countries, and TrueLayer handles more than USD 150 billion in annualised payment volume.
Who are the largest open banking providers?
Large providers include Plaid, with over 12,000 financial institutions, Visa's Tink, with 6,000 advertised connections, TrueLayer and Yapily, which covers about 2,000 banks in 19 countries.
Are card networks moving into open banking?
Yes. Visa bought Tink in 2022 and has scaled its open banking payments network to thousands of bank connections as of September 2026.
What is the status of PSD3 and the Payment Services Regulation?
EU lawmakers reached political agreement on 27 November 2025. The Council position on the regulation was published on 5 November 2026, and a plenary vote is indicated for 14 December 2026.
What is FIDA and when will it apply?
FIDA is the EU proposal to extend data sharing beyond payment accounts. It was still awaiting Parliament's first-reading position in November 2026, so no date applies yet.
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