Two Speeds of Open Banking in Europe: Why Did the Baltics Embrace It? - Marijus Plančiūnas, Paysera

This talk features Marijus Plančiūnas, CEO of Paysera, who discusses the advancements in open banking within Lithuania and the Baltic region, highlighting their significant increase in eCommerce payments processed through Payment Initiation Services from 2-3% to 80%. The speaker examines the key factors driving this impressive growth, including low card fees, supportive regulations, and effective collaboration within the fintech ecosystem. He also addresses the challenges faced by countries like Bulgaria, such as limited consumer awareness and bank inertia, and outlines the necessary steps for unlocking the full potential of open banking through the involvement of fintechs, merchants, tax agencies, and policymakers.