The Cashless Economy: Open Banking and Remote Payments in 2025

Sneha Padavala

27th Jan 2025
The Cashless Economy: Open Banking and Remote Payments in 2025

E-Commerce Times

“Open banking continues to make waves in financial services, driven by a growing variety of use cases for instant payments and payouts. As we head into 2025, fraud prevention and data security remain top priorities for open banking payments, with new regulatory directives and legislation set to enhance privacy, security, and the overall ecosystem,” says Donal McGuinness, CEO at Prommt.

In his latest interview with the ECT News Network, Donal dives deep into fintech’s pivotal role in remote payments and driving Pay by Bank adoption. He shares insights on the opportunities and challenges of this evolving landscape as commerce continues its shift toward a cashless economy.

Read the full interview to learn how open banking is shaping the future of finance.

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