To develop the liquidity of the European financial market and the competitiveness of the continent's players, the European Union is promoting two important reforms that directly affect payment solutions:
The establishment of open banking (the so-called Open Banking or PSD2 )
The systematization of instant payment within the SEPA area
Banks, Fintech companies and regulatory authorities are positioning themselves to implement these two orientations.
Sage
In this post we talk about the three revolutions in payment solutions.
Payment solutions: moving from a closed to an open ecosystem
The meaning of the transformation underway is the transition from a malaysia mobile phone number data closed ecosystem to an open one , in which a greater variety of actors will be able to offer a broader range of services to companies.
The aim is to add a new level of innovative services to financial exchanges between companies and banks.
The exchange of data (via API¹) and transaction information between all the players that make up the payment solutions ecosystem will become the norm.
Payment solutions: new use cases in treasury
The transformation of the payment solutions ecosystem implies a break with the existing framework, particularly for the corporate treasurer. Mobility, immediacy, predictability and internationalisation become values of use whose advantages, as well as risks, companies must take advantage of.
