I N D U S T R Y O U T L O O K
I N D U S T R Y O U T L O O K
Eline Blomme , Chief Strategy & Product Officer at Acquired . com
Banking more viable for merchants , they also introduced new fixed fees , eroding the cost advantage over debit cards – particularly for low-value transactions with higher approval rates .
The road ahead
The UK ’ s National Payments Vision represents a transformative opportunity to reshape the payments landscape through Open Banking . However , realising this vision requires a concerted effort to address technological gaps , establish robust consumer protections , incentivise bank participation ( especially for commercial variable recurring payments ), and modernise infrastructure .
Regulators , banks , merchants , and TPPs must work together to navigate these challenges . With strategic planning and sustained effort , Open Banking can become a cornerstone of the UK ’ s financial ecosystem , offering consumers and businesses a flexible , efficient , and secure alternative payment method . �
FOR OPEN BANKING TO FLOURISH , BANKS MUST BE INCENTIVISED TO ACTIVELY SUPPORT ITS ADOPTION . www . intelligentfin . tech
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