Opportunity for payments revolution for the utilities sector
Unprecedented market turmoil has led to steep rises in direct debits across the energy sector. Yet some retailers have been heavily criticised by Ofgem after a review showed weaknesses in the way they were charging their customers direct debits. Marion King, chair and trustee of Open Banking Limited, believes there is a “payments revolution” waiting to happen in the utilities sector. Writing for Utility Week, King outlines the benefits of utilities adopting open banking into more of their practices.