MRC Online Courses

Open Banking Essentials

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The Open Banking Essentials course is a self-paced, entry-level course covering the basics of open banking. Payments professionals will learn the key concepts of open banking, what the global trends are, what open banking looks like in the US, and why it is important for merchants and consumers. The primary target of this course is payments professionals in enterprise and large-scale organizations, however, it is relevant for related roles and anyone interested in open banking.

The course is developed by the MRC in partnership with Link Money and peer-reviewed by the MRC Education Committee. 

Program Details

  • Program Level: Basic
  • Program Field of Study: Specialized Knowledge
  • Program Delivery Method: QAS Self Study
  • CPE Credits: 1.2
  • Advanced Preparation and/or Pre-requisites: None


  • Define open banking
  • Understand use cases of open banking
  • Identify types of data access methods
  • Understand the key differences between data access methods, including security considerations
  • Understand the regulatory vs market-driven approach
  • Define the key markets globally and the different market approaches
  • Explain the unique position of the US in the open banking ecosystem.
  • Define open banking key terms
  • Understand the general open banking payments flow
  • Understand the benefits of open banking for both consumers and merchants

The Open Banking Essentials course is priced at US$75 for MRC members (plus applicable taxes). Non-members may take the course at the non-member price of US$150 (plus applicable taxes).

RAPID Edu Accreditation

The Merchant Risk Council is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

National Registry of CPE Sponsors logo

RAPID Edu Refund Policy

For the RAPID Edu program self-study courses, refunds and cancellations are determined on a case-by-case basis. Cancellations and requests for refunds must be communicated in writing to Refunds will not be issued once a course is started. Additionally, courses must be completed within one year of the course enrollment date.

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