Are Open Banking payments popular with consumers?
- Open Banking payments already popular in Sweden and Northern Europe
- Open Banking payments are predicted to gain continual user preference
- Open Banking payments are rapidly taking market share from cards
Open Banking payments are now one of the fastest-growing payment methods in EMEA, where they are set to overtake both credit and debit cards in popularity by 2023.1
According to forecasts from Juniper Research, the proportion of Digital Banking users in Western Europe making purchases with Open Banking payments is expected to grow from 3.6% in 2020 to 15.7% by 2024.