The global digital payments market is booming – with standardisation and new open data regulation playing no small part in the rapid growth. Banks, however, seem to be struggling to keep up with big tech competition in the payments industry. The 2019 Capgemini World Payments Report shows non-cash payments growing rapidly, particularly in developing markets […]
Join us this October in Shanghai, China’s technology hub, for Data Amplified 2019. As China’s world class financial and economic centre, Shanghai is an exciting place to debate and discuss the future of business reporting. Famously entrepreneurial, characterised by constant change and towering skyscrapers, and the centre of China’s technology boom, this October Shanghai will […]
Tomorrow, when you buy your morning coffee will you rifle through your wallet for some coins or a card, or wave your phone? Or maybe send a text, or deposit a digital token? The way we pay for things is changing, with e-money challenging traditional cash and bank deposits. How should we think of new digital […]
Deutsche Bank have published an in-depth guide to the ISO 20022 migration set to bring standardisation to global payments infrastructure by 2025. The next few years will see payments infrastructure switch up as major central banks around the world modernise their systems by swapping to ISO 20022 for cross-border and inter-bank payments. This significant move […]
Managing access to personal data is a central question in many aspects of the global economy and at the forefront of many debates on a host of issues. Not least in payments.
Europe is pushing in two directions on payments infrastructure: making it easier to access, while strictly restricting access to authorised entities. The “Payments Services Directive (PSD2)” is opening up access to authorised groups, through Open Banking APIs. At the same time, the privacy provisions that define who can access what have been greatly tightened. Confused? Well, this week the European Banking Authority launched its central register of the thousands of payment and electronic money institutions operating under PSD2. Perhaps it might help.
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