Summary
This report details the findings of a Visa-commissioned consumer survey conducted in September 2023, aimed at understanding the perceptions, preferences, and trends surrounding open banking among U.S. consumers. The survey involved 1,516 respondents and sought to capture various demographics including age, gender, and geographic location. The results indicate a significant trend toward the adoption of open banking, with 91% of consumers linking their financial accounts to third-party services, a notable increase from a previous survey. The report also highlights the growing demand for secure and convenient payment experiences, particularly among younger consumers such as Gen Z. It discusses the role of open banking in facilitating account-based payments, improving user experiences, and driving better account funding solutions. The findings emphasize the importance of understanding consumer preferences to enhance financial services and create innovative payment solutions that meet evolving consumer needs.
