KPMG is one of the top international brand companies that will have both presentation and workshop within NOCASH event: PSD2. New Business Models – Fintech Banking Summit. The topics covered are very sensitive aspects related to PSD2 and digital transformation process of the banks. 1. Deep Dive into the building blocks of PSD2: . Requirements from banks to allow access to third parties; . Split of liability between clients, banks […]

PSD2 introduces two measures amongst others that potentially contradict each other and may limit their ability to hit the goals they set out to achieve: Payment Initiation Service Providers (PISPs) PISPs may initiate a transaction on behalf of the customer directly from their bank account. These transactions will bypass card networks and therefore avoid the costly credit card charges Banning of Surcharging This stops merchants from adding fees on top […]

Waiting at the departure gate at Heathrow Terminal 2, dressed as an eskimo as I didn’t trust the weather reports for Hamburg! The question I started to explore: Is Payment Service Directive 2 (PSD2) and Open Banking friend or foe for banks? There are 2 key players influencing change, the European Banking Authority (EBA) who have issued PSD2 and for the UK in addition to PSD2 the Competitions Marketing Authority […]

In the ongoing discussion on PSD2, in late June the European Banking Authority (EBA) published its opinion on the European Commission’s proposed amendments to the PSD2 draft Regulatory Technical Standards (RTS) on Strong Customer Authentication and Common and Secure Communication. Below, we’ve included a simplified version of the debate about the amendments to help you navigate PSD2. The EBA’s opinions on the four amendments proposed by the Commission are as […]

New rules in Europe aim to change the payments landscape – in the process, they could also boost blockchain development. Europe is about to undergo a massive shift in regulation that will fundamentally change the payments landscape. It’s also likely to give an unexpected boost to blockchain development. Let me explain. It all starts with PSD2, a new payments directive due to come into force in early 2018, aims to […]