---
title: Open Banking – Pushing the frontiers of payments | emerchantpay
description: Our latest report delves into the concept of open banking, the advantages of this payment solution and the exciting opportunities it can provide for early-adopting businesses.
image: https://resources.emerchantpay.com/hubfs/EMP_OpenBanking_2024_MetaImage_1200x630px%20copy.png
---

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# New Open Banking research report

### Our new research showcases the unique and boundless opportunities of Open Banking

Chapter one: Open Banking – Pushing the frontiers of payments demystifies the concept of Open Banking, alongside providing essential insights into UK consumer preferences and attitudes towards Open Banking.

Based on a survey we commissioned for over 2,000 UK consumers, we’ll uncover how Open Banking strongly aligns with consumer demands at the checkout such as security, privacy, speed and convenience. Read our first chapter to learn more about the numerous benefits to be reaped by early-adopting businesses.

![OPenBanking_LandingPage_Cover_1600px](https://resources.emerchantpay.com/hs-fs/hubfs/OPenBanking_LandingPage_Cover_1600px.png?width=1600&name=OPenBanking_LandingPage_Cover_1600px.png "OPenBanking_LandingPage_Cover_1600px")

 

## Download your copy

## Key opportunities of Open Banking

![Online payments](https://resources.emerchantpay.com/hs-fs/hubfs/Online%20payments.png?width=200&height=200&name=Online%20payments.png "Online payments")

#### Open Banking payments set to grow exponentially

The value of Open Banking transactions is estimated to hit [US$57 billion globally by 2023.](https://www.statista.com/topics/11010/open-banking/#topicOverview)

![eCommerce (2)](https://resources.emerchantpay.com/hs-fs/hubfs/eCommerce%20(2).png?width=200&height=200&name=eCommerce%20(2).png "eCommerce (2)")

#### Many consumers are unknowingly using Open Banking

45% of UK respondents claimed they had used Open Banking during checkout, upon uncovering its definition.

![Increase](https://resources.emerchantpay.com/hs-fs/hubfs/Increase.png?width=200&height=200&name=Increase.png "Increase")

#### 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%).

#### Get ready for the future of payments with Open Banking! 

[DOWNLOAD](#download#)

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