A sea of change in the online (and therefore mobile) retail payment landscape is set to happen, due to the proposed regulation for ‘accessing payment account’ (XS2A).
A sea of change in the online (and therefore mobile) retail payment landscape is set to happen, due to the proposed regulation for ‘accessing payment account’ (XS2A) of consumers, by third parties without having to be part of the existing payment schemes.
Access to the account can be interpreted in different ways by many stakeholders such as banks, card schemes, payment service providers, acquirers, processors and TPP’s (Third Party Providers
, term from PSDii text). Will XS2A indeed provoke the desired increase in innovation, market growth and internal market integration?
For sure the payment landscape will shift fast. Many more participants will enter the transaction space in new roles with new features. The simple world of transactions might turn into a complex web of interdependencies with all risks and in-transparency involved… Or new incumbents will restructure transactions into 'logical' consumer services, closer to the customer, enabling more direct control on security, functionality and efficiency.
At EPCA Summit we will dedicate ample time on XS2A, including a pre-conference workshop in the morning of 12 March and a summary session on 13 March. On top of this we expect this topic to be strongly visible in various other sessions on payments and digital identity.
Download your essentials on XS2A:
ECB SecuREpay recommendation for strong authentication of all online transactions by 2015
Essentials New EC Directive
Innopay blogs on XS2A
The Concept of an Open Standard Interface for Controlled Access to Payment Services (CAPS)
By Michael Salmony (Executive Advisor to the Board of Directors, Equens)
Mr Philippe Pelle, deputy head of the Retail Financial Services and Consumer Policy at the European Commission (DG Internal Market and Services) will be one of the key note officials at EPCA Payment Summit on XS2A. A career official, Philippe has covered many different policy grounds ranging from direct taxation, financial reporting, corporate governance, the fight against money laundering to GATS negotiations and the enlargement of the EU. Prior to joining the European Commission, Philippe worked in auditing and in investment banking in Paris. Philippe is a graduate from the London School of Economics and a qualified chartered accountant.