The rapid growth of online retail transactions is adding strain to legacy card payment systems that merchants have relied on for years. Meanwhile, open banking payments have increased by over 550% between July 2020 and June 2021.
So is now the perfect time for ecommerce businesses to take open banking payments seriously?
Our latest research report examines the development of open banking payments, and why it’s quickly becoming a competitive alternative to cards.
Download this report to discover:
- Why the ageing card network infrastructure and unworkable chargebacks have become a burden for modern ecommerce brands
- How merchants and consumers benefit from open banking payments, including lower fees, reduced fraud and better payment experiences
- How open banking simplifies the payments chain for the digital age, removing parties such as payment gateways, acquirers and schemes