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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
What Patrick McKenzie actually said
- 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.
Where this was said
↗Open Banking and payments competitionbitsaboutmoney.com
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Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us
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