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Open Banking Transactions Dwarfed by Card Payments in UK

Summary by PYMNTS.com
Open banking powered 27 million payments in the U.K. during March, while there were 1.92 billion card transactions in February.
DisclaimerThis story is only covered by news sources that have yet to be evaluated by the independent media monitoring agencies we use to assess the quality and reliability of news outlets on our platform. Learn more here.

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TechmemeTechmeme

The UK, which launched open banking in 2018, is seeing its fintech sector struggle to make open banking-powered payments a viable alternative to card payments

Top news and commentary for technology's leaders, from all around the web.

·California, United States
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PYMNTS.comPYMNTS.com

Open Banking Transactions Dwarfed by Card Payments in UK

Open banking powered 27 million payments in the U.K. during March, while there were 1.92 billion card transactions in February.

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PaymentandbankingPaymentandbanking

Open Banking in E-Commerce: Secure and Responsible

Online shopping is booming – but fraud and over-indebtedness are increasing. Open banking opens up new opportunities for online retailers to make payments safer and protect consumers from over-indebtedness. A new look at identity and solvency – supported by open banking and AI.

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Paymentandbanking broke the news in on Monday, May 26, 2025.
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