46% of US Consumers Say They’re Ready for Open Banking

As younger and affluent consumers drive the trend, open banking payments stand on the verge of widespread acceptance. This payment method, which allows users to complete transactions directly from their bank accounts using familiar online banking credentials, offers a streamlined alternative to traditional methods by bypassing credit card details.

Yet, despite its advantages, only 11% of U.S. adults have used open banking payments in the past year, even though nearly 46% express strong interest.