Ivy Alternatives: Top Open Banking Providers for Your Business

Note that the information about the payment providers found in this article was taken from their respective websites on 23 December 2024. This information is subject to change.

If you're an e-commerce merchant using Ivy for payments, you might have noticed some limitations. While Ivy offers robust open banking solutions, it stops there. No data products, no streamlined checkout options, and no no-code tools. For businesses seeking more comprehensive payment features, it's worth exploring Ivy alternatives.

In this article, we compare the top open banking providers to help you find services like Ivy.

What Does Ivy Offer?

Ivy payment system provides open banking solutions designed for pay-ins and payouts. The platform includes:

• Open banking payments: Ivy payments enable open banking pay-ins and payouts, with over 5,000 banks connected via open banking APIs. Other integration options include e-commerce plugins for  WooCommerce, Shopware, Magento, and Shopify, and integration via Payever.
• Recurring payments: Ivy is among a few providers that offer automated subscriptions via commercial Variable Recurring Payments (VRPs). These are a new advancement in open banking, allowing customers to make payments of different amounts at regular intervals directly from their bank account – no cards or direct debits needed. Since they aren’t yet required under PSD2 regulation, bank adoption remains limited.
• Geographic reach: Ivy operates in 21 countries, primarily in Europe, the UK, US, and Canada.

Best Ivy Alternatives in 2025

Ivy doesn’t actually offer much more beyond the open banking payments and subscriptions.

Therefore merchants who need a more holistic payment solution, with a card payment gateway, open banking payments, no-code payments and data solutions may want to look at Ivy competitors.

Noda

Noda is an excellent alternative to Ivy for e-commerce merchants seeking more than just open banking payments. Our platform offers a comprehensive range of payment and open banking data solutions.

With Noda, you can accept both card and pay-by-bank payments. Our Open Banking API, ensures a smoother user experience, lower fees, and no chargebacks. We partner with over 2,000 banks across 28 countries, including regions beyond the UK and Europe, supporting multiple currencies for global reach.

Our platform includes plugins for leading e-commerce platforms like OpenCart, WooCommerce, Magento, and PrestaShop, offering easier integration than Ivy.

Noda also provides a streamlined checkout form, with payments powered by AI-driven routing for better conversion. For businesses with limited development resources, our no-code payment links and QR codes make setup effortless.

Additionally, Noda’s advanced data tools, such as secure bank login and Know Your Whales insights, help you predict customer behavior and make informed decisions. With transaction-based pricing, Noda simplifies payments, enabling faster growth for your business.

Yapily

Yapily is a Europe-based open banking provider, which connects businesses to 2,000 banks across 19 countries, including the UK. It’s a strong alternative to Ivy for businesses focused on the European market.

Through Yapily’s API, businesses can process open banking payments, sweeping and non-sweeping VRPs, and bulk payments. Additionally, Yapily offers advanced data solutions like Data, Data Plus, and Validate, all based on open banking. Yapily also allows merchants to connect to a PSD2 license via their Connect product.

Their main focus is on open banking, powering payments for financial companies in payment processing, remittance, FX, crypto and accounting industries.

TrueLayer

Similarly, TrueLayer, a London-based open banking provider, focuses exclusively on open banking services in Europe. 

They offer payment initiation and payouts through API integration and, similar to Ivy, support non-sweeping VRPs in partnership with NatWest. Their services also include streamlined onboarding, data access, and verification, all powered by open banking infrastructure.

However, TrueLayer does not provide broader payment gateway options or no-code solutions, and they don’t disclose their bank coverage details. Operating in 21 European countries, including the UK, France, Germany, and Spain, TrueLayer does not currently serve the US market.

GoCardless

GoCardless is a popular open banking and payments provider with a strong focus on the UK and Europe, connecting to over 2,300 banks. They offer open banking payments and bank account data solutions for merchants.

Their other payment options include one-off payments, subscriptions, invoices, and installments, all powered by bank debit. They also support instant bank payments and international payments in 30+ countries.

GoCardless provides tools like Success+ to reduce payment failures, advanced fraud protection for recurring payments, and payer authentication. Integration options include APIs, plugins, and partner apps.

However, businesses looking for broader e-commerce plugin compatibility may find GoCardless's open banking integration options limited. Additionally, their heavy focus on the UK and European markets may not suit companies seeking global payment solutions.

What Alternative Is Best?

The best Ivy alternative really depends on your business needs and what you’re looking for in a provider.

Noda is the go-to option for merchants looking for a versatile payment solution. It combines open banking and card payments, no-code tools, and advanced data insights to help your business grow.

If you’re looking for just open banking, Yapily and TrueLayer are great choices. They’re strong in open banking payments and VRPs. That said, their lack of card payment options, no-code tools, and broader e-commerce integrations might feel limiting for merchants who need more flexibility.

GoCardless offers a bit more flexibility beyond open banking – for example, bank debit payments and tools for reducing payment failures and subscriptions. However, its limited e-commerce plugins may not suit merchants needing broader payment options.