🤓Prospects of open banking in the study by the payment service Emerchantpay from the UK.🇬🇧

🤓Prospects of open banking in the study by the payment service Emerchantpay from the UK.🇬🇧

In short, the prospects are awesome.

➡️ Although more than half (specifically, 51% of the population) of the country is not familiar with the term “open banking”, every 2nd Briton uses it for payments. Mostly, these are citizens under the age of 35.

➡️ Almost one-fifth (19%) of respondents said they would use Open Banking more often in 5 years.

➡️ For comparison, 14% said the same about BNPL and 7% about crypto.

➡️ Merchants, in turn, choose open banking for security (60%), speed (38%) and privacy (41%).

➡️ Two-thirds (66%) of survey respondents noted that they have never received messages or information from their bank regarding Open Banking... Oops❗️

➡️ Bonus: open banking regulation in the UK. How to get started, obtain permission, and the cost involved. What is the OBIE guide? Enjoy.

#news #Europe