New American Express research shows payment security is now a decisive factor for UK shoppers, accelerating adoption of Open Banking payments and reshaping how consumers and businesses approach digital transactions.
Payment security has become a top priority for UK consumers, with new data from American Express revealing that more than three-quarters (76%) of shoppers now consider security essential for every online purchase they make. The findings highlight a growing opportunity for Open Banking payments, as consumers increasingly look for methods that combine strong protection with speed and simplicity.
The research, conducted by Pay with Bank Transfer, American Express’ Open Banking arm, shows that trust and reassurance are key drivers of behaviour. Almost half (49%) of consumers surveyed said that enhanced security would be the strongest incentive for them to use Open Banking payments. This underlines a clear shift in consumer expectations, where safeguarding personal and financial data is no longer optional but fundamental to the checkout experience.
At the same time, convenience remains critical. Two fifths (40%) of consumers said ease and speed of payment are important regardless of what they are buying, rising to more than half (52%) for smaller, everyday purchases. Open Banking payments are increasingly meeting both demands, offering a fast, seamless process while allowing customers to authorise payments securely through their own bank, with visibility of balances before completion.
Usage data suggests Open Banking is moving beyond early adoption into more everyday payment scenarios. More than a quarter (27%) of consumers said they use Open Banking payments for household bills and expenses, compared with 15% who rely on manual bank transfers. Adoption is also growing for subscriptions, with 16% using Open Banking versus 8% using traditional manual transfers. These trends indicate that Open Banking in the UK is becoming a trusted option for recurring and higher-confidence payments.
Businesses are responding to this shift. A separate American Express survey of 500 UK B2C businesses found that merchants recognise the importance of reassuring customers about payment security while delivering a smooth checkout. Adding Open Banking payments ranked among merchants’ top three priorities for improving their payment experience over the next 12 months, reflecting rising demand for faster settlement, lower fees and reduced fraud risk.
American Express indicated that Open Banking payments address these needs by combining bank-level security with a familiar authorisation flow that can be completed in just a few clicks. For merchants, the service also offers operational benefits such as instant settlement and straightforward integration, strengthening overall payment resilience.
As digital commerce continues to grow, the findings suggest security will remain the defining factor shaping payment innovation. Open Banking, backed by strong consumer trust and robust safeguards, is increasingly positioned as a cornerstone of secure, modern payments in the UK.
