Re: Open Payments Ecosystem - request for information

Hi David,

Those questions are absolutely fundamental.

I tend to agree with the pessimistic view expressed by Anders.

However, the market seems to be now at the eve of a change, and you 
never can tell : will it be heaven for new players, or shall we just get 
the same old story.

The important thing is that PSD2 does actually open up the pandora box, 
by creating the legal basis for the newcomers. As an example of the 
impact, the concept of "acquirer" is going to be redefined.

Indirectly, this make it possible to promote new products : look for 
instance at the ELV (“Elektronisches Lastschrift Verfahren”) system 
developped in Germany : they managed to mix the card (for 
authentication) and the Direct debit (for messaging) : it was pretty 
unlikely.

Authentication methods are, as well, a lever to propose new services 
(for instance, if I have less security, can I propose insurance in 
exchange ?)

It means that the landscape is going to get blurred, and a lot of hybrid 
combinations will necessarily appear !

But this would require a thorough discussion.

Fred


Le 06/06/2016 à 20:51, Anders Rundgren a écrit :
> On 2016-06-06 17:56, David Ezell wrote:
>>
>> Hello All:
>>
>> (Note cross posting to Gray Taylor.)
>>
>> 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.
>>
>
> 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.
>>
>> Quoting from the article:
>>
>> “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.”
>>
>> The article further links this work to PSD2.
>>
>> Do any of you have additional information on why we should pay closer 
>> attention to these developments, or any rationale to the contrary?
>>
>> Best regards,
>>
>> David
>>
>> [1] Apologies, but all I have are snippets, and I have not been able 
>> to find a link to this specific article.
>>
>