Visa Retreats From US Open Banking

Plus: Klarna takes BNPL in-store across Walmart Canada

Author

Avinash Duggempudi
August 28, 2025 • Estimated Reading Time: 5 minutes

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Sales Intelligence: Fintech

Here's what's happening this week in the world of fintech sales: - Visa exits US open banking; data access fight. - Text-based payouts go live with Visa Direct. - Klarna brings BNPL in-store at Walmart Canada. - Alloy’s KYC/KYB win signals sponsor-bank scrutiny. - India’s Kiwi raises $24M for credit-on-UPI.

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📌WEEKLY MUST-KNOWS

Visa has discontinued its US open banking initiatives, citing ambiguity around consumer data-sharing rules and the potential for banks to charge for data access, and is shifting focus to Europe and Latin America. The move underscores rising friction over who pays for bank data and the operational headwinds for data-driven fintech use cases in the US. Impacted: fintechs reliant on bank data, aggregators, and banks recalibrating data-partner models.

Authvia added Visa Direct to its TXT2PAY platform, enabling real-time outbound disbursements via text across healthcare, insurance, automotive services, and gig platforms. This shifts payouts from checks and portals into secure messaging, matching growing demand for instant, low-friction disbursements. Impacted: enterprise disbursement teams, processors supporting Visa cards, and sectors where payout speed drives satisfaction and retention.

Klarna rolled out in-store payments across 400+ Walmart Canada locations, extending QR-based Pay in Full and Pay in 4 to physical checkout. BNPL’s expansion at the POS deepens omnichannel reach and could elevate conversion and basket size while testing risk controls in-store. Impacted: retailers standardizing flexible payments, BNPL competitors, and card issuers defending share at checkout.

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⚡QUICK READS

Alloy Wins Datos Award For Embedded Finance KYC/KYB: Alloy’s sponsor-bank solution earned Datos recognition, signaling tighter oversight and a push for scalable, auditable controls across bank–fintech partnerships.(More)

Kiwi Raises $24M To Scale Credit On UPI: India’s Kiwi will expand RuPay credit-on-UPI, a model that could reshape acceptance economics and card-rail strategies in high-penetration real-time payments markets.(More)

Creem Raises €1.8M For AI Financial OS: Early funding for Creem’s Stripe-like OS for AI-native startups points to emerging demand for embedded payments, compliance, and global money movement in AI-heavy stacks.(More)

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