U.S. debit products

Mastercard Launches Open Banking Initiative to Transform Digital Account Opening in 2024

Mastercard will launch its Open Banking for Account Opening program in the first half of 2024, targeting debit and prepaid offerings in the U.S. The initiative uses open banking technology to reduce account abandonment rates and streamline digital onboarding through real-time verification and automated data entry, responding to growing demand from younger consumers who prefer online banking experiences.