Consumers and Businesses Alike Increasingly Choose Open Banking for Travel Payments, Finds Trustly

Trustly, the Swedish open banking payment solution provider, has revealed that UK holidaymakers spent 230 per cent more year-on-year on travel in January 2024 using account-to-account payment technology.

Adoption of Pay by Bank is gradually increasing among both consumers and businesses alike, Trustly says, as it reveals that, across Europe, using it to spend on travel has risen by seven per cent YoY in January.

January often proves to be the most popular month to book holidays, as people look to escape dreary UK weather and book something to look forward to for the year ahead, while also coinciding with when many businesses offer substantial discounts.

After the UK, the largest increase in spending of any European country has been in Germany with 22 per cent growth compared to the same month last year.

The growth is based on Trustly’s transaction data from more than 250 travel businesses across Europe that now use its technology. Trustly’s technology has been adopted by some of…