Open Banking and Real-Time Payments: An Essential Partnership

Accelerating Open Banking Adoption Will Drive Real-Time Payments Growth Open banking could unlock the next step in real-time payments’ evolution by bringing them directly to consumers through banks’ APIs, but acceptance in the U.S. will require a concerted effort between the industry and policymakers, says Akoya’s Anil Mahalaha. in the “Real-Time Payments Tracker®,” a collaboration with The Clearing House.

Inside the May Tracker

Anil Mahalaha, head of solutions at Akoya, explains why open banking proliferation in the U.S. needs government leadership.
In a recent survey, 36% of consumers said they did not want to share their card information for push payments, while 33% did not want to share their bank account information.
This month’s PYMNTS Intelligence examines how open banking can accelerate real-time payments implementation and how open banking regulations in the U.S. and Europe affect real-time payments in these regions.