Open Banking payments offer a secure and efficient method of accepting online transactions, reducing transaction costs and the risk of fraud, while providing digital-first consumers with a streamlined checkout process. The global value of Open Banking payments is expected to exceed $116bn by 2026, with over 75% of users being European. Merchants can benefit from reduced transaction costs and virtually eliminated fraud risk, especially those dealing with thin margins or high propensity of chargebacks/refunds. Open Banking payments also enable instant settlement, reducing liquidity cycles for merchants and consumers alike, and offering faster refunds for e-commerce businesses with high merchandise return rates. Adoption rates are surpassing 20%, with Plaid powering Open Banking payments by working directly with merchants and in partnership with PSPs to provide additional functionality and support.