PSD2 Antoine Larmanjat

Transcription

1 PSD2 Antoine Larmanjat Brussels May 2017

2 Card Issuers Winners and Losers of PSD2 PISPs AISPs Card schemes Retailers Card Issuing PSPs Fintechs PSPs Banks Clearing Houses Consumers 2

3 AISPs New Business models 90 days SCA validity is a problem AISPs + PISPs = more opportunities Great for AISPs and Robo-advisors, BUT limitation to Payments accounts only 3

4 PISPs Online Bank Transfer Payments on the rise SCA+Dynamic Linking does not lead to the best User Experience (redirect model) PISP-only On-site scenarios hard to envisage Clearing houses bank backed may create national API PSD2 gateways with richer services than strict PSD2 requirements Hard to create a Mobile-Payment offering with a PISP-only license, easier with cards 3

5 Card Schemes and Card Issuing PSPs Bank transfers vs Card Payments will shift more towards Bank Transfers PSD2 theoretically opens the door to card issuing PSPs which are not the bank New cheaper card schemes? Possible with Yes/No PSD2 clause. There are too many unknowns on how to onboard a new card at the bank when it is issued by a 3 rd party, PSD2 and RTS remain too vague there Article 16 (Transaction-Risk Analysis) of EBA/RTS is very restrictive and thresholds are quite low. Will also be difficult to implement. Current onsite and mobile card based payments are not heavily impacted by PSD2. 3

6 Retailers PSD2 should mean lower Payments costs for Retailers Retailers can become PISPs for online payments Retailers can create their own closed loop card scheme with PSD2 Retailers can use API gateways that will give them access to accounts Retailers can bundle their own payment systems to their own services (loyalty, etc..) 3

7 Banks PSD2 will trigger OpenBanking strategy for Banks Banks may want to be part of the API economy Bank API gateways will allow partners to innovate faster than Banks can A good API infrastructure might help bank increase their share of wallet for Corporate clients Access to Bank services through APIs by Fintechs => Bank Disintermediation Banking services without a channel leads to less Cross Selling opportunities 3

8 Others We see many PSD2 initiatives among banks and similar institutions, but mainly at national level. There is a risk of having multiple unconnected API gateways at national level. Instant Payments and PSD2 Access to accounts is still unclear as for how they will interact and connect Contactless IP rights with existing card schemes hamper the creation of new mobile payments and card schemes. EMV Co contact rights should be extended to contactless to generate more competition Status of Screen scraping still unclear 3

9 Payconiq European PISP ahead of PSD2 May 2017

10 PSD2 opens up initiation of bank payments to non-banks Banks to provide access to internet-accessible accounts to any licensed Third Party Provider (TPPs) for account information and payment initiation services Banks CANNOT charge TPPs for these services and NO contract is required TODAY > OCT 2018 Customers Customers Impact on Primary relationships Internet / Mobile banking PSD 2 Internet / Mobile banking TPPs Impact on Transaction revenues & data Payment account Payment account Bank domain Bank domain

11 How can Payconiq as a TPP work with banks ahead of PSD2? Payconiq is the answer to: 1. Changing payment regulations (PSD2) 2. Technological developments (APIs) 3. Changing customer needs (mobile) Bank A SEPA Bank B Focus on SEPA Credit Transfers (SCT) Advantage for consumers, merchants and banks: PSD2 proof Bank owned Embraces the API economy Omni-channel payments solution Interoperable / Multi-country White label API and own App Reduces reliance on cards Loyalty integration Value added Service Innovation platform 11

12 Payconiq, the story so far PSD2 based fintech startup within ING 50 stores onboarded in Leuven Delivered a pizza in 10 seconds Merchants, ING Belgium starts selling Payconiq Merchants KBC join Payconiq Belfius joins Payconiq New office October 2014 July November May October December January April 2015 September February 2016 September November January 2017 April 2017 MVP in Leuven PQ as preferred method in student societies Loyalty integration with Joyn #1 ios in financial apps and release of the new logo First above the line commercial s Significant Merchants & Users Rabobank, ABNAmro SNS Bank