Key opportunities of Open Banking
Open Banking payments set to grow exponentially
The value of Open Banking transactions is estimated to hit US$57 billion globally by 2023.
Many consumers are unknowingly using Open Banking
45% of UK respondents claimed they had used Open Banking during checkout, upon uncovering its definition.
Open Banking has the potential to outpace other payment options
19% of UK shoppers said they would use Open Banking more frequently in five years’ time, surpassing Buy Now Pay Later (14%).