The Payments Association’s Open Banking Working Group joined forces with our Merchant Payments Working Group for a focus session on open banking implementation at PAY360, in March 2026. The session explored the benefits of and barriers to open banking adoption for merchants and included a presentation from sector pioneer Wonderful Payments.
While interest in offering open banking as a payment method was prevalent, the roundtable session found opportunities to increase merchant knowledge of commercial benefits, implementation strategies, and marketability for their customers.
“Joining the Open Banking Working Group equips members with direct influence over the UK’s open banking roadmap, from accelerating A2A payments and VRP adoption to shaping data standards. Members gain access to exclusive benchmarking and will share insight with peers on global cases. A key aspect of the group is to engage and collaborate with regulators, merchants and peers to address adoption barriers, deliver thought leadership on consumer protections, and steer ecosystem growth—ensuring your voice drives practical, industry-led outcomes.”
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.
The Open Banking Working Group explored retailers’ perspectives on open banking which culminated in a successful webinar and opinion piece.
The Open Banking working group’s efforts were largely focussed on supporting the recommendations made to JROC on the development of a Future Open Banking Entity in the U.K. The working group provided insight and perspectives for TPA’s representatives to take the various meetings on the funding, governance and capabilities of a future entity.
Join Tony Craddock, Director General and Founder of the Payments Association, for a deep dive into the evolving landscape of open banking with industry leader Marion King. In this episode, Marion shares her insights from a distinguished career that has significantly shaped the UK’s payment sector, from introducing Faster Payments to her influential role as CEO of Vocalink and beyond.
Please fill out the form to indicate your interest in receiving more information about The Payments Association’s Open Banking Working Group. A member of our Project Team will be in touch with you shortly.
