e-Payments in Europe: Are we ready to standardise?

With PSD2 and other initiatives in the market like instant payments, E-IDAS, open banking, Europe has her arms wide open for innovation and aims to inspire more market competition.

In fact, the European Parliament had a recent vote in which the MEPs express a need to seize opportunities from new technologies and have a innovation-friendly policy towards online platform. http://www.europarl.europa.eu/news/en/news-room/20160114IPR09903/Stop-geo-blocking-and-boost-e-commerce-and-digital-innovation-says-Parliament

Legislation reflects this with the plethora of changes in payments coming in place.  Yet at the same time in a messy / vibrant market economy, there is a risk of fragmentation.  Along with the push towards creating room for innovation and sparkling initiatives, is it time now for e-payments to be standardised?  Are the notions of standardization and innovation mutually exclusive?

Looking further to consumers and merchant needs, how could legislation and changes or standardisation better fit their needs and expectations.  Can identity authentication become an additional offering by service providers?  Can e-Mandates and e-Identity be a type of transaction service with wider applications?

Speaking on this topic from perspective of two of Europe’s largest e-payments players, Max Geerling from iDEAL NL and John Broxis from MyBank will host an informal but sharp discussion on these topics!  Bring along your questions and challenges. It will be an exciting debate discussion.

Key points for discussion:
–       Risk of disintermediation but also opportunities for banks with PSD2
–       Consumers and merchants: what do they really want?
–       Services beyond payments: e-Mandates and e-Identity
–       Role of APIs / standards and the need to go beyond the technical layer to create useful services for end users

What are your concrete questions? Join the debate. Post your questions already and send them to joyce@transactives.com

 

Max is a business expert in digital payments. Currently in the role of Executive Advisor at the Dutch Payments Association in the area of PSD2 / access-to-the-account and e-payments method iDEAL. He has a broad work background in cards payments and online / mobile payments, with prior experience in management positions and as a business consultant. Max holds a PhD in Computing Science from the University of Nijmegen.

John Broxis has been working in payments and banking systems since 1997 with Logica in London and Saudi Arabia.
He moved to EBA CLEARING in 2002 to support the development and launch of STEP2, thepan-European ACH. In 2007, he became Director of STEP2 taking the platform through SEPA migration to be the largest clearing system in Europe, and one of the most sophisticated globally.
In 2010, John created MyBank, a pan-European e-authorisation solution for online payments, which went live in 2013. In 2014, MyBank was moved to a separate company, PRETA S.A.S. with John as Managing Director.

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