In a recent interview, Barry O’Sullivan, Head of Banking and Payments Infrastructure at OpenPayd, shared his insights on the evolution of payments.

LONDON, UNITED KINGDOM, March 10, 2025 /EINPresswire.com/ -- The financial services industry is undergoing rapid transformation, and embedded banking is playing a central role in this shift. In a recent interview with Payments Consulting Network, Barry O’Sullivan, Head of Banking and Payments Infrastructure at OpenPayd, shared his insights on the evolution of payments, the challenges businesses face, and how fintech infrastructure is shaping the next generation of financial services.

O’Sullivan highlighted the growing need for businesses to access seamless, real-time payment solutions, particularly as global commerce becomes more interconnected. “The banking and payments landscape has changed dramatically over the last few years,” he noted. “Businesses today expect fast, flexible, and cost-efficient solutions that integrate directly into their operations. That’s why Banking-as-a-Service (BaaS) and embedded finance are becoming increasingly critical.”

He also pointed out that traditional banking infrastructure is often ill-equipped to handle modern financial demands. “Many businesses, particularly those operating internationally, still struggle with slow settlements, high costs, and limited access to banking infrastructure,” he explained. “Our focus at OpenPayd is to remove these barriers by providing a seamless, API-driven solution that gives businesses access to the financial services they need without the constraints of legacy systems.”

Bridging the Gap Between Traditional Banking and Fintech
O’Sullivan spoke about how OpenPayd is addressing these industry-wide challenges through its modular and scalable infrastructure. The company enables businesses to embed banking and payments services directly into their platforms, offering everything from real-time payments and FX to virtual IBANs.
One key advantage of OpenPayd’s approach is its ability to support multiple payment rails. This rail-agnostic model allows businesses to operate efficiently across different geographies, reducing the friction associated with cross-border transactions.
O’Sullivan also discussed the importance of partnerships in driving financial innovation. OpenPayd collaborates with banks, fintechs, and payment providers to extend its capabilities and ensure that its clients can access a broad range of financial services through a single integration. “By working with partners across the ecosystem, we can offer businesses a truly end-to-end financial infrastructure that simplifies payments, enhances liquidity management, and improves overall efficiency,” he said.

Unlocking Growth Through Embedded Finance
The rise of embedded finance has been a game-changer for businesses looking to integrate financial services seamlessly. OpenPayd provides a suite of services designed to support companies across various industries, including digital assets, marketplaces, and financial institutions.
For example, digital asset exchanges use OpenPayd to facilitate seamless transactions for end users, while affiliate marketing platforms leverage its solutions to process thousands of global payments in multiple currencies. By providing real-time settlement, OpenPayd helps businesses scale without the typical banking-related hurdles.

Looking ahead, O’Sullivan sees continued growth in the embedded finance space, with an increasing number of businesses integrating banking services directly into their platforms. “The future of banking isn’t about traditional banks versus fintechs,” he stated. “It’s about building interconnected financial infrastructure that empowers businesses and consumers alike. That’s what we’re focused on at OpenPayd.”
As fintech innovation accelerates, OpenPayd remains at the forefront of the industry, bridging the gap between traditional finance and digital-first solutions. With its robust API-led platform, the company is redefining how businesses access and utilise financial services in an increasingly borderless economy.
For more insights, read the full interview with Barry O’Sullivan on Payments Consulting Network.

Ilayda Cakici
OpenPayd
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