Best Volt Open Banking Alternatives

Please note that the information about the payment providers found in this article was taken from their respective websites on 29 January 2025. This information is subject to change.

Volt is a UK-based open banking platform offering a full suite of payment solutions. At its core, Volt enables account-to-account payments with a focus on real-time transactions, fraud prevention and advanced payment orchestration. Operating across the UK, EU, Brazil, and Australia, Volt provides instant payments, refunds, and advanced cash management tools for fund visibility and reconciliation.

Beyond standard payment processing, Volt enhances its offering with features like Circuit Breaker for fraud prevention and Volt Transformer, which converts card payments into open banking transactions. This combination of payment infrastructure and advanced tools makes Volt a flexible option for businesses looking for integrated financial solutions.

While Volt delivers a strong feature set, businesses may want to explore alternatives based on their unique requirements, geographic coverage, or specific payment needs. Below, we compare other open banking providers to help you find the best fit for your business.

Volt Open Banking Alternatives

Noda

Noda specialises in open banking solutions, offering robust bank-to-bank payment infrastructure across 28 countries, including the UK, Europe, Canada and Brazil. The platform combines this core open banking capability with card payments and advanced analytics, delivering a fully equipped payment ecosystem for businesses.

Noda makes payment setup easy for online retailers with seamless plugin integrations for WooCommerce, OpenCart, PrestaShop, and Magento, with BigCommerce coming soon. Its no-code solutions, including Instant Payment Links and QR Codes – simplify transactions, while AI-driven routing improves payment success rates.

Noda also enhances security and compliance with features like secure bank logins and KYC insights, helping businesses better understand customer behaviour. With flexible, transaction-based pricing, it’s a great choice for businesses of all sizes, from individual content creators to large corporate enterprises, looking to scale efficiently.

TrueLayer

TrueLayer is a London-based company specialising in open banking services across Europe. It focuses on account-to-account payments and data-sharing, providing payment initiation and payouts via API integration.

A standout feature is its support for non-sweeping Variable Recurring Payments (VRPs) in partnership with NatWest, allowing automated recurring transactions without repeated customer approvals.

TrueLayer does not support card payments or offer a dedicated payment gateway, which might be restrictive for e-commerce businesses that require more extensive functionality. It also lacks no-code solutions and is limited to 21 European countries, which may not align with the needs of businesses looking to operate on a global scale or seeking a broader payment infrastructure.

Plaid

Plaid, founded in the United States, is primarily known for its expertise in open banking data services, rather than direct payment capabilities.

Plaid excels in providing detailed financial insights through services like transaction history checks, real-time balance inquiries, asset snapshots, and identity verification, including AML and PEP screening. This focus makes Plaid a valuable tool for businesses that need to dive deep into financial data.

Plaid provides payment initiation and variable recurring payments across the US, Canada and 16 European countries. However, service availability and features differ by region, lacking a unified payment solution across Europe. These regional inconsistencies may impact its suitability for businesses with diverse geographical requirements.

Yapily

Yapily, based in Europe, links businesses with a network of nearly 2,000 banks across 19 countries, including the UK, positioning itself as a strong competitor to Volt for firms focusing on European financial operations. The ability to integrate directly via Yapily Connect without additional licenses is a significant advantage for firms looking to simplify their financial operations.

Yapily’s main business focus is on open banking as well also bank data solutions. The company powers payments for multiple financial companies in payment processing, remittance, FX, crypto, accounting and other industries.

GoCardless

GoCardless specialises in recurring billing models and operates primarily in the UK and Europe, where it connects to over 2,300 banks.

It is ideal for small to medium-sized enterprises (SMEs) that require reliable payment processing with minimal failure rates. The platform’s advanced fraud protection and payer authentication features ensure secure transaction processing, particularly beneficial for businesses handling frequent transactions.

Although GoCardless offers robust support for open banking payments and has API, plugin and app integrations, its geographical focus remains limited to primarily serving the UK and European markets, which may not be suitable for businesses aiming for a broader international presence.

Choosing the Best Alternative to Volt Open Banking

Volt is a strong contender in open banking, but choosing the right alternative depends on your business priorities.

If global coverage and multi-payment support are key, Noda stands out by combining open banking and card payments with no-code tools and advanced data analytics. This makes it a strong option for businesses looking to scale internationally while streamlining transactions.

For companies operating solely in Europe and looking for seamless recurring payment automation, TrueLayer is a great choice, thanks to its VRP support. Businesses that require deep financial insights rather than direct payment processing may benefit from Plaid, which specialises in financial data aggregation.

Those seeking a strong European banking network with streamlined integrations may find Yapily a practical choice. Meanwhile, GoCardless is an excellent option for SMEs relying on direct debits, ensuring secure, low-failure transactions within the UK and Europe.

The best alternative to Volt open banking depends on whether your business prioritises payments, data insights or seamless API integration. Each provider offers unique advantages, so selecting the right one comes down to aligning its features with your operational needs and long-term growth plans.