How Open Banking Works in Romania

Romania’s payment infrastructure reached a turning point in 2024: over €70 million processed monthly through open banking in Romania, with corporate bulk payments accounting for 77% of total transaction value. For SMEs, enterprise platforms, importers, and high-risk merchants, this shift represents a direct operational advantage — and TODA Pay delivers the infrastructure to capture it.

What PSD2 Means for Romanian Open Banking

The European Commission enacted PSD2 in 2018, mandating that all EU banks — including Romania’s — open secure API channels to licensed third-party providers. Romania’s National Bank (BNR) enforces compliance and issues the two licences that define open banking Romania’s operating structure.

Licensed providers fall into two categories:

• PISP — Payment Initiation Service Providers: Initiate A2A payments directly from customer bank accounts, enabling pay-by-bank checkout and automated bulk disbursements.
• AISP — Account Information Service Providers: Access read-only account and transaction data for KYC verification, risk scoring, and cash flow monitoring across multiple banks.
• SCA — Strong Customer Authentication: PSD2 requires two-factor verification — combining knowledge, possession, or biometrics — on every payment authorisation.

The incoming PSD3 directive extends these frameworks, expanding permitted use cases and strengthening cross-border payment interoperability across the EU.

Open Banking Romania — Key Market Data

Central and Eastern Europe currently registers 11 million open banking users, with projections exceeding 50 million by 2027. Romania holds the second-largest population in the CEE region at 19 million, with 52 active bank APIs across 15 account providers — a foundation that already supports production-scale transaction volumes.

PSD2 API error rates dropped from 15% in 2022 to 0.8% in 2024 — Romania’s open banking infrastructure now operates at enterprise reliability standards.

How Romanian Banks Deliver Open Banking APIs

Romanian banks implement PSD2 via the Berlin Group NextGenPSD2 standard, using redirect-based authentication flows where customers confirm payments inside their own banking application. The major institutions covering over 80% of active accounts include:

• Banca Transilvania (BT Pay): Redirect flow with automatic app-switching; supports biometric authentication and SEPA Instant.
• BCR — Banca Comercială Română (BCR Mobile): Erste Group infrastructure; comprehensive API performance with biometric SCA.
• BRD / ING Romania / Raiffeisen Romania: Each operates redirect-based flows aligned with international group standards for consistent cross-border API behaviour.
• UniCredit Bank România: Strengthened market position following the 2025 merger with Alpha Bank; approximately 11% asset market share.

All major banks support both domestic RON payments via the SENT system operated by Transfond and EUR payments via SEPA Credit Transfer, with broad adoption of Plăți Instant for real-time local settlements.

Open Banking Payment Use Cases for Romanian Businesses

Open banking in Romania moves beyond regulatory compliance into concrete operational infrastructure. Businesses across industries deploy it to replace costly, restricted, or slow traditional payment channels.

Four deployment scenarios deliver the highest commercial return:

• A2A pay-by-bank checkout: Customers authorise payments directly from their bank account — no card data entry, no network fees, instant settlement.
• Corporate bulk payments: Automate payroll, supplier disbursements, and multi-account treasury operations; bulk payment APIs reduced processing overhead by 77% of total OB transaction value in 2024.
• KYC and risk scoring via AISP: Access verified, real-time bank transaction data to assess creditworthiness, verify identities, and forecast lifetime value without manual documentation.
• Cross-border and high-risk merchant processing: PSD2-licensed PSPs provide compliant payment infrastructure for industries where card acquiring is restricted or cost-prohibitive.

Each scenario reduces intermediary dependency, lowers per-transaction cost, and delivers data visibility that card-based processing cannot match.

Connect to Open Banking Payments in Romania

TODA Pay provides PSD2-compliant open banking payment infrastructure built for the business segments that standard banking underserves — high-risk merchants, importers, SaaS platforms, and enterprise operations requiring bulk payment automation across CEE markets.

Key capabilities available through the platform:

• Direct A2A payment processing with instant SEPA settlement across Romanian and EU banks
• Bulk payment API for corporate disbursements, payroll, and multi-entity treasury management
• AISP-powered KYC and real-time financial data access for risk scoring and onboarding automation
• Dedicated compliance support for high-risk industry categories requiring PSD2-licenced processing

Romania’s open banking market grows at a pace that rewards early infrastructure decisions. TODA Pay connects your business to that infrastructure today — request a consultation to assess your payment architecture.

Frequently Asked Questions

What is open banking in Romania?

Open banking in Romania is a PSD2-regulated system that lets BNR-licensed third-party providers access bank account data and initiate payments via secure APIs. Businesses use it to accept A2A payments, automate cash flow, and reduce transaction costs without relying on card networks.

How is open banking regulated in Romania?

The National Bank of Romania enforces PSD2 requirements, licensing TPPs as AISPs or PISPs before granting API access to customer bank accounts. The incoming PSD3 directive will further expand permitted open banking services and strengthen consumer data protections across the EU.

Which banks in Romania support open banking APIs?

Major Romanian banks — Banca Transilvania, BCR, BRD, ING Romania, Raiffeisen, and UniCredit — provide PSD2-compliant APIs covering over 80% of active bank accounts. All institutions implement redirect-based authentication with Strong Customer Authentication via their mobile banking applications.

What are the benefits of open banking for merchants in Romania?

Merchants processing payments via open banking Romania eliminate card network fees, receive funds instantly through SEPA Instant or Plăți Instant, and face zero chargeback exposure on A2A transactions. Real-time account data access also enables automated reconciliation, KYC verification, and risk scoring without additional third-party infrastructure.

How can high-risk businesses use open banking in Romania?

High-risk merchants access open banking in Romania to obtain payment processing outside traditional card acquiring, which is frequently restricted or overpriced for their industries. PSD2-licensed PSPs deliver compliant A2A infrastructure supporting cross-border settlements, bulk disbursements, and real-time financial data — without the restrictions of conventional merchant accounts.