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What is the purpose of PSD2 for payments?
The purpose of PSD2 is enabling third parties creating new Financial Services through open APIs to customers’ bank accounts. Such systems already exist but currently rely of questionable methods typically requiring consumers giving their login credentials to third parties, which in turn through “screen-scraping”, effectively impersonate their clients to their on-line banks. One of the objectives with PSD2 is [...]
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Europe’s banks look to compete together against FinTech threat
The heads of several large European banks have told the Financial Times that they are in talks about jointly setting up a cross-border instant payments service. The details are sketchy so far and the talks may not be very advanced. But one thing is clear: the decision by the banks to discuss teaming up is a response [...]
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Raiden payment systems goes live on Ethereum network
A version of the Raiden payments channel network has been launched on the main Ethereum blockchain. Activated yesterday, the launch comes months after µRaiden – known more commonly as “microraiden” – first... more
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Raiden payment systems goes live on Ethereum network
A version of the Raiden payments channel network has been launched on the main Ethereum blockchain. Activated yesterday, the launch comes months after µRaiden – known more commonly as “microraiden” – first launched on an Ethereum test net. The idea behind the project, which is a simpler take on the still-in-development Raiden network, is to provide a mechanism for micropayments [...]
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Mastercard files patent for blockchain-based money transfer
Mastercard has just filed a patent for a “Method and System For Instantaneous Payment Using Recorded Guarantees.” This is, in short, a patent for a blockchain-based system that offers instant payment. The... more
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