£123m has been processed via HMRC’s mobile app alone
In Brief:
- Since introducing open banking payments as an option for making payments, the UK’s HM Revenue & Customs has now processed over £10.5bn with the help of its open banking partner Ecospend
- That figure marks an incredible acceleration in the last 12 months, with the total sitting at just £2.5bn back in January 2022
- Part of the increase is due to the introduction of open banking payments to HMRC’s mobile app in February 2022
What does this mean?
“The rapid adoption of our Open Banking payment solution through the HMRC app is hard evidence that account-to-account payments are the best way to meet consumers’ expectations for a fast and simple payment journey,” said James Hickman, Ecospend’s chief commercial officer.
