Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Economy > UK merchants seek alternatives to costly payments: Yapily report
Economy

UK merchants seek alternatives to costly payments: Yapily report

Last updated: June 25, 2025 5:30 am
Share
UK merchants seek alternatives to costly payments: Yapily report
SHARE

Businesses in the UK are increasingly looking for cost-effective and secure payment methods, as highlighted in a recent report by Yapily, an open banking infrastructure provider. The study reveals that merchants are dissatisfied with high transaction fees and the current chargeback model, which many view as unfair.

The report sheds light on the growing demand for alternatives to traditional card payments, with 98% of businesses valuing lower transaction fees and 41% wanting chargebacks to be eliminated entirely. Concerns over transaction fees, fraud risks, and data breaches are also prevalent among merchants, with 77%, 68%, and 54% expressing worries, respectively.

According to the survey conducted by YouGov for Yapily, which involved over 2,000 UK consumers and 250 merchants, two-fifths of businesses believe that the chargeback process favors consumers too much. Consumers, on the other hand, prioritize security and convenience, especially for low-value purchases. 49% prefer ease of use for purchases under £20, while 44% prioritize security for purchases around £100.

The report highlights that 58% of consumers would be willing to try new payment methods if they offered lower fraud risk. Although open banking is seen as a solution with lower fees and higher security, cards remain the preferred method due to familiarity. Yapily’s recommendations aim to drive open banking adoption and create a fairer financial system.

These recommendations include aligning the ecosystem on open banking’s value propositions, developing a consumer protection model without chargebacks, and introducing an open banking trustmark. Yapily’s founder and CEO, Stefano Vaccino, believes that open banking has the potential to enhance payment experiences beyond other methods.

See also  Menendez Brothers Resentencing Hearing Ends, Geragos Demands Risk Assessment Report

Nicole Green, Yapily’s VP for product strategy, innovation, and policy, emphasizes that businesses are seeking lower costs and better security, which open banking offers. The challenge now lies in encouraging consumers to make the switch at the checkout by rolling out new features and creating a clear, trusted brand.

Yapily is an open banking infrastructure platform in Europe that connects customers to thousands of banks. The company has raised $69.4m in funding and continues to expand across Europe.

The original article “UK merchants seek alternatives to costly payments: Yapily report” was published by Electronic Payments International, a GlobalData owned brand. The information provided in this rewritten post is for general informational purposes only and does not constitute advice. Professional or specialist advice should be sought before taking any action based on the content.

TAGGED:alternativesCostlymerchantspaymentsreportseekYapily
Share This Article
Twitter Email Copy Link Print
Previous Article Many U.S. babies may lack gut bacteria that train their immune systems Many U.S. babies may lack gut bacteria that train their immune systems
Next Article Man jailed 3 years in divorce dispute will stay there, appeals court rules Man jailed 3 years in divorce dispute will stay there, appeals court rules
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

NFL’s Taylor Lewan Explains ‘Mistake’ of Naming Bad Bunny Halftime Performer

Former NFL player Taylor Lewan shared his thoughts on why he disagrees with Bad Bunny…

October 4, 2025

Questions and confusion as Trump pauses key funding for shrinking Colorado River

An executive order issued in the early days of the Trump administration has put a…

March 2, 2025

School board to pay $500K after caving tragedy

Whangārei Boys' High School has been ordered to pay over $500,000 in reparations to the…

September 26, 2024

A siete años del huracán María, en Puerto Rico no se puede contar ni con el servicio eléctrico 

The 13th of August, the tropical storm Ernesto rapidly intensified just before hitting Puerto Rico…

August 26, 2024

Un activista de Columbia fue detenido por ICE en su cita de ciudadanía

Mohsen Mahdawi, the organizer of pro-Palestinian demonstrations at Columbia University last year, was detained by…

April 15, 2025

You Might Also Like

3 Must-Buy Stocks Fueling the Data Center Surge
Economy

3 Must-Buy Stocks Fueling the Data Center Surge

October 31, 2025
Shake Shack returns to profit in Q3 2025
Economy

Shake Shack returns to profit in Q3 2025

October 31, 2025
Fresnillo signs agreement to acquire Probe Gold for 8m
Economy

Fresnillo signs agreement to acquire Probe Gold for $558m

October 31, 2025
Senate report details cases of medical neglect in immigration detention centers
World News

Senate report details cases of medical neglect in immigration detention centers

October 31, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?