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Winners and Losers of PSD2
2
PSPs
PISPs
AISPs
Retailers
Card schemes
Clearing Houses
Banks
Fintechs
Ca
rd I
ss
ue
rsCard Issuing PSPs
Consumers
AISPs
3
• 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
PISPs
3
• 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
Card Schemes and Card Issuing PSPs
3
• 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 3rd 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.
Retailers
3
• 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..)
Banks
3
• 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
Others
3
• 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
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
Customers
TPPsInternet / Mobile banking
Payment account
Customers
Internet / Mobile banking
Payment account
PSD 2
Bank domain Bank domain
Impact on Primary
relationshipsTODAY > OCT 2018
Impact on Transaction
revenues & data
How can Payconiq as a TPP work with banks ahead of PSD2?
11
Bank A Bank B
Focus on SEPA Credit Transfers
(SCT)
SEPA
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
Payconiq is the answer to:
1. Changing payment
regulations (PSD2)
2. Technological
developments (APIs)
3. Changing customer needs
(mobile)
Payconiq, “the story so far”
October 2014
April 2015
July
September
November
February 2016
May
September
October
November
December
January 2017
January
• PSD2 based
fintech startup
within ING
• MVP in
Leuven
• 50 stores
onboarded in
Leuven
• PQ as preferred
method in
student
societies
• Delivered a
pizza in 10
seconds
• Loyalty
integration
with Joyn
• Merchants,
ING
Belgium
starts selling
Payconiq
• #1 iOS in
financial apps
and release of
the new logo
• Merchants
KBC join
Payconiq
• First above
the line
commercial
s
• Belfius
joins
Payconiq
• Significant
Merchants &
Users
• New
office
April 2017
• Rabobank,
• ABNAmro
• SNS Bank