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PSD2 and its impact: Changing Europe’s banks for the better
Banking has always been a very conservative industry. If liquidity drops too low, entire markets can grind to a halt. Open yourself up too much and you become susceptible to fraud and theft. Striking the perfect balance is difficult. In every economy, one of the government’s primary concerns is securing a steady flow of money [...]
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US Supreme Court rejects $7.25 billion card interchange fees revival bid
The US Supreme Court has declined a bid by retailers to revive a $7.25 billion antitrust settlement they reached with Visa and Mastercard over claims the card networks improperly fixed payment card interchange fees. The high court left in place a lower court decision that threw out the interchange fees settlement on the basis that it [...]
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Collaboration between banks and FinTechs now key to survival with connected consumers
With the EU’s Second Payment Services Directive (PSD2) and open architecture framework set to come into force next year, regulation may well tip the scales between banks and FinTechs for customer loyalty. Concessions must be made on both sides along the way, but in the end the collaborators will be the ones to survive – [...]
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G20 should create central bank led blockchain consortium
Centre for International Governance Innovation (CIGI) has urged G20 members to take control of blockchain technology by building an international, regulatory framework. Blockchain is key for an inclusive, transparent and accountable digital economy in G20 countries, according to a new report published by the international economic forum. The study warns that the risk of failing [...]
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Infograph: PSD2 explained – why was the Payment Services Directive created
In less than a year the revised Payment Services Directive (PSD2) will be implemented in European Union (EU) Member States. The Second Payment Services Directive (PSD2) is a fundamental piece of payments-related legislation in Europe, which entered into force in January 2016. PSD2 is the product of a review of the original Payment Services Directive and [...]
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