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The Open Banking fight is not about data but about whether banks may charge for economic activity on payment rails they do not operate.

Drawn from what Patrick McKenzie said

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What Patrick McKenzie actually said

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  1. Patrick McKenzie

    Software engineer and writer, known online as patio11

    Almost all discussions of it center on “data”, but it’s actually a fight about payments, and whether banks have a right to monopolize and charge for all economic activity their users engage in, irrespective of whether the bank operates the payment method.

Added to korrents 13 Aug 2025 · How quotes work · Something wrong? Tell us

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