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Open Banking to Overtake BNPL and Crypto in Usage by 2029, Survey Predicts

Jun 23, 2024

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A survey by emerchantpay predicts that open banking will overtake BNPL (buy now, pay later) and cryptocurrency payments by 2029, with 20% of consumers planning to increase its use. Although 51% of UK consumers are unfamiliar with the term, many unknowingly utilize open banking at checkout. Awareness fosters adoption, as 45% of informed users recognize past usage. Merchants could see significant uptake across various sectors, urged by emerchantpay to integrate and educate on open banking benefits. This payment method is especially prevalent among younger consumers, promising rising acceptance with increased awareness. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: The Fintech Times

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