Open banking in Cyprus

Effortlessly integrate our diverse range of open banking solutions to accelerate transactions and streamline financial flows adding flexibility at the checkout page.
Experts in payment space
A unique combination of technology and services covering all aspects of eCommerce
Appetites for medium and high – risk
Personal onboarding and account manager available 24/7
Safe and Reliable partner
Settlements paid always on time
Local market compliance and security: SCA, 3D Secure, SSL certificates
Data Intelligence
Global presence
Payment processing in 140+ countries
50+ Supported currencies
Multi-language Gateway
Connections with global payment service providers
Complex things with us made simple
User friendly API Our API is as easy as three fingers
Fully secured Fully compliant with PCI DSS Level 1
Cost-efficient Safe time and money using our fully packed out of the box solution
Lightning fast onboarding Get approved within a day
Seamless integration From the words to a business in a matter of clicks
Daily
analytics Get real-time insights, track user key metrics, monitor trends, and make data-driven decisions with comprehensive reports and analytics
Advanced
security Our security systems are
top-notch and up-to-date with
the latest standards
Reliable
support We provide 24/7 support
for all our clients with
a dedicated team
Innovative
solutions We deliver innovative
solutions tailored
to your business needs
Global
reach Our services are available globally
ensuring we can meet
your needs anywhere
Our specialists provide technical support at all stages of connection to the platform and provide consultations on various issues:
1
What are the regions DNS PAY serve?
2
What payment solutions does DNS PAY offer?
3
How much time is needed for integration?
4
What type of integrations do you support?
How does the integration work? Cutting edge cascading & routing system that will supercharge your acceptance rates and conversions. Transactions are routed to the most efficient payment method, minimizing decline rates and maximizing acceptance rates.
Let us secure your transactions while you focus on new opportunities for your business

FAQ

What is Open Banking and how does it work?
Open Banking is a system that allows banks to securely share financial data with licensed third-party services through APIs. With user consent, this enables new features like direct payments, budgeting tools, and account aggregation — all with full control and transparency.
Is Open Banking safe?
Yes. Open Banking follows strict security standards, including strong encryption and user authentication. In the EU, including Cyprus, it is regulated by the PSD2 directive, which ensures data protection and transparency.
What are the benefits of Open Banking for businesses?
Businesses can reduce payment costs, speed up transactions, and access real-time financial data. Open Banking also enables better customer experiences through personalized financial services.
How is Open Banking different from traditional online banking?
Open Banking lets users securely share their banking data with third-party apps and services, unlocking more features like budgeting tools, comparisons, and faster payments — unlike traditional online banking, which keeps everything inside the bank.
Is Open Banking available for businesses in Cyprus?
Yes, Open Banking is fully available for businesses in Cyprus. Merchants can connect with local banks and access real-time financial data, improving payment efficiency and transparency.
How is Open Banking implemented in Cyprus?
DNS PAY offers convenient Open Banking integration in Cyprus, allowing businesses to initiate payments directly from customers' bank accounts, access information and simplify the verification process.
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Open banking is more than a buzzword—it’s redefining how people and businesses connect with financial services. Imagine having all your financial data in one secure place, managing payments seamlessly, and getting insights tailored just for you. Our open banking platform enables exactly this by securely linking banks and trusted third-party providers. In Cyprus, where digital transformation in finance is rapidly growing, this model offers a modern and efficient solution. We prioritize a banking experience that’s both safe and empowering. Open banking also allows businesses to reduce reliance on card networks and improve payment efficiency.

 

Why Our Open Banking Platform Stands Out

 

The platform is crafted with one purpose: delivering financial solutions that are both secure and centered around user needs. It combines the highest standards of data security with flexible integration, giving financial institutions access to customer data—always with clear permission from users. In Cyprus, open banking adoption is helping businesses gain a competitive edge. With open banking, integration is designed to be straightforward, letting companies deliver smart financial services faster.

 

Key Features of DNS PAY’s Open Banking Solution

 

• Top-Tier Data Security
At DNS PAY, data security isn’t an add-on—it’s fundamental. We use strong encryption, tokenization, and multi-level access control to keep every piece of data secure. By meeting GDPR, PCI DSS, and other global standards, we ensure transactions are protected. This gives businesses and customers peace of mind knowing their data is safe.

• Full User Control Over Data
DNS PAY gives control back to the user. Customers decide what data they share, who sees it, and for how long. For instance, a customer may share account details with a budgeting app but limit access to only relevant information. With DNS PAY, users can adjust permissions anytime, making data sharing flexible and entirely user-driven. This is more than compliance; it’s about building real trust.

• Smooth API Integration for Businesses
DNS PAY’s APIs are designed for simplicity, integrating easily with existing systems—from traditional banks to modern fintech. This flexibility saves businesses time and resources. For example, an e-commerce store can integrate DNS PAY’s API to offer direct bank payments without complex technical changes, making it easier for customers to pay directly from their accounts.

 

Practical Benefits of Open Banking Solution

 

1. Quick, Affordable Payments
Our open banking connections bypass expensive card networks, reducing transaction costs and speeding up payment times. This is especially valuable for e-commerce and subscription-based services, particularly for businesses operating in Cyprus, where fast, affordable payments improve customer satisfaction and reduce cart abandonment. This setup lowers fees, letting companies keep more revenue while offering a smoother checkout experience.

 

2. Customer Insights for Tailored Services
With open banking, businesses can access spending patterns (with permission) for deeper personalization. For example, a bank could analyze a customer’s financial habits to offer flexible loan terms or custom savings options, strengthening loyalty. In Cyprus, this approach is gaining popularity, helping companies create truly valuable financial solutions that build lasting relationships.

 

3. Transparency That Builds Trust
 Today’s users expect control over their data. Our open banking model meets this need by allowing customers to monitor and adjust permissions anytime. They see exactly who has access to their data and can make changes on the spot. This transparency, backed by robust security measures, reassures users and builds trust with every interaction.

 

4. Reduced Costs for High-Transaction Businesses
 Companies with frequent transactions—like subscription services—benefit from direct open banking payment options, which reduce costs by eliminating third-party intermediaries. This efficiency helps businesses save on fees and speed up fund transfers. By making high-volume transactions more affordable, open banking supports sustainable business growth.

 

Open Banking in Action: A Real-Life Scenario

 

Consider a financial wellness app that uses our open banking API. With user consent, the app accesses real-time data from various accounts, offering insights such as daily spending updates and personalized savings goals. For users, this brings real value by helping them manage finances more easily, while the app gains customer loyalty through relevant, personalized advice.

 

Building the Future of Finance with DNS PAY

 

Open banking isn’t just a trend; it’s the future of finance. DNS PAY’s platform evolves with regulatory updates and user expectations, ensuring our partners stay ahead in the digital financial landscape. Our commitment to security, transparency, and personalized service empowers businesses to deliver financial experiences that meet the demands of today’s customers. With DNS PAY, you’re not just adopting open banking—you’re embracing a future where financial services, including credit card processing and payment gateways, are more secure, adaptable, and customer-focused than ever. DNS PAY provides tailored iGaming payment solutions for businesses, simplifying operations and boosting customer satisfaction in a competitive financial environment. DNS PAY provides tailored iGaming payment solutions for businesses, simplifying operations and boosting customer satisfaction in a competitive financial environment.

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