Yaspa Index 2026
How familiar are UK consumers with the term ‘Pay by Bank’ in 2026?
Open banking continues to scale across the UK, with millions of consumers now using account-to-account payments in their everyday financial lives. But while adoption is rising, awareness of the term used to describe these payments tells a more complex story.
The Yaspa Index 2026 explores how familiar UK consumers are with the phrase ‘Pay by Bank’, how that familiarity has shifted over the past year, and what people really prioritise when choosing how to pay online.
This year’s findings reveal a surprising decline in awareness and highlight the urgent need for greater clarity and consistency across the industry.
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Kate Marsden
Chief Marketing Officer
"Pay by Bank sits at the intersection of simplicity and trust. It’s a payment method that lets consumers authorise a payment directly from their bank account to a business with clear, secure steps and no need for card details or manual transfers. In the UK, more than 16.5 million consumers are now connected to open banking services , and this adoption continues to grow as platforms embrace bank-initiated payments in more experiences."