Re: Open Payments Ecosystem - request for information

On 2016-06-06 17:56, David Ezell wrote:
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> Hello All:
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> (Note cross posting to Gray Taylor.)
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> Gray Taylor (Director of Conexxus, whom many of you know) sent me a query about OPE (Open Payments Echosystem).  The project is funded as part of the Horizon 2020 programme of the European Union.
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There's actually a bunch of such initiatives in the workings.

The fundamental problem that _all_ these efforts suffer from is the lack of vision and cooperation among banks which unfortunately makes things like PSD2 an empty promise.  IMO it is highly unlikely that even "read access" to account information will be generally available for external providers 2017 except on a national / local basis since there is no given "authority" for APIs of this kind.

Unfortunately this situation leaves payment innovation on a global level to centralized services like VISA, Google, Apple, etc. which probably is about the opposite to what PSD2 wanted to achieve.

OTOH, the wast majority of all payments are national / local so maybe we should continue happily building "provincial" payment standards?

The (IMO) only thing that could radically change the landscape is if people begin sending their salaries to non-bank providers.

Anders Rundgren



> The article title is “Why the Payments Ecosystem is Due for a Shake-Up.” [1]  According to the article, the actual work is sponsored by Ixaris with key contributions from Visa Europe, IDT Finance, Startupbootcamp, Locke Lord, and the University of Malta.
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> Quoting from the article:
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> “The marketplace enables developers to create and publish payments applications using pre-existing financial components, and allows service providers to plug in a range of financial services, such as car authorization, Swift and Automated Clearing House or ACH transfer, to support them.”
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> The article further links this work to PSD2.
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> Do any of you have additional information on why we should pay closer attention to these developments, or any rationale to the contrary?
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> Best regards,
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> David
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> [1] Apologies, but all I have are snippets, and I have not been able to find a link to this specific article.
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