A recent Forbes article stated that in the next 3-5 years, 76% of global banks predict that usage and customer adoption of open banking applications will increase by 50%. Open banking certainly improves customer experience and offers a decreased risk of fraud and associated costs. Yet uptake among retailers currently remains slower than desired.
In this open banking themed webinar, join us as we investigate what can be done to assist retailers to make the shift across to open banking. How might the current cost of implementation be impacting takeup, and do retailers really want to give customers more choice at the point of sale, which could slow down transaction time and create queues?
From the consumer’s point of view, we will also discuss payer and buyer protection, and what kind of protection assurances might be needed to incentivise buyers to switch across to open banking, particularly for higher ticket items, in preference to the traditional debit card.
Watch The Payments Association’s webinar to hear our senior expert speakers discussing the evolution of open banking.
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