Industry protests against PSD2

F.Y.I.

I think this verifies my claim that security is the most difficult part of a payment system.  Not necessarily to implement, but to agree on.

https://www.visaeurope.com/media/images/psd2%20position%20paper%20nov%202016-73-40837.pdf
http://prepaidforum.org/wp-content/uploads/2016/11/Cross-industry-letter-to-Commissioner-Dombrovskis-re-EBA-strong-authentication-standards.pdf

The EBA probably doesn't possess the needed competence and their members are quite divided as well.

Scandinavian banks use PKI and digital signatures which effectively excludes third-parties from reusing the existing "wiring".  Why would they downgrade?

"Social Payments" like Venmo and Facebook must be pretty challenging combining with PSD2 since they keep the authorization inside their own ecosystem.

Anders Rundgren
Principal, WebPKI.org

Received on Tuesday, 6 December 2016 04:47:42 UTC