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PSD2 access to accounts: A huge hidden revenue opportunity for banks
There is a widely-held belief in the banking industry that PSD2 access to accounts (XS2A) has to be provided for free. This is not true. Sure, Europe’s banks must grant customer-permitted Payment Initiation Service Providers (PISPs) and Account Information Service Providers (AISPs) access to their bank accounts and financial data, but crucially, PSD2 says nothing [...]
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Could PSD2 implementation accidentally ruin the European FinTech market?
A group of influential European FinTech companies have come together as 56 companies and associations operating across all EU Member States and at a global level in the financial services space in a bid to reform the PSD2 implementation. The companies, in a Manifesto of objection, say they welcome the adoption of the amended Payment Services Directive [...]
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Omni-Channel Retailing: The demand for cross-channel payment infrastructure service
In a new omni-channel retailing report – it is noted that online technologies, mobile devices and new consumer demands are rapidly transforming the retail sector and the payments industry. They offer retailers and payments industry players new opportunities to generate differentiation and new revenues. Multiple recent technological innovations have changed the way consumers consider shopping. Merchants [...]
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Banks at risk of missing the open banking opportunity
Monitise FINkit has announced the key findings from its research into senior banking executives’ priorities, challenges, and future plans surrounding open banking. The study, carried out by independent researchers LM Research, includes responses from 15 major UK banks and other financial institutions. Regulation: keeping bank executives awake at night but they are at risk of missing [...]
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Cashless society: Australian merchants’ cash receivables to drop below 2% by 2022
Australian merchants have reported that cash receivables plummeted by 46% between 2010 and 2016, new research from market analysts East & Partners has found. Should this trend continue, cash payments across all Australian businesses is predicted to fall below 5% by 2019 and then hit 2% within the next five years. Over the same period, [...]
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