What's New in Payments

Airlines leverage PSD2 to cut transaction fees

New payment method for air tickets successfully demonstrated — International Air Transport Association — “IATA Pay is an industry-supported initiative to develop a new payment option for consumers when purchasing a ticket directly from an airline website. It is made possible by the European Commission’s second Payment Services Directive (PSD2), and the UK’s Open Banking regulation. For airlines, the advantages of IATA Pay are: Cheaper payment option compared to other alternatives; Highly secure; Faster cashflow with instant/near instant payment to the merchant; Simpler payment process resulting in fewer lost sales.”


EU begins rollout of cross-border digital identity project

Cross-border digital identification for EU countries: Major step for a trusted Digital Single Market — European Commission — “As of 29 September, the EU-wide legislation on the electronic identification (eIDAS Regulation) will enter into force enabling cross-border recognition of the electronic ID and allowing citizens and business to share their identity data when necessary. People will be able to use their electronic ID (eID) such as ID cards, driver licenses, bank cards and fill tax returns online, access medical records and online public services across the EU.”


What's New in Payments

EU gives payments industry 18 months to implement strong customer authentication

Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments — European Commission — “The RTS makes strong customer authentication (SCA) the basis for accessing one’s payment account, as well as for making payments online. This means that to prove their identity users will have to provide at least two separate elements out of these three: something they know (a password or PIN code); something they own (a card, a mobile phone); and something they are (biometrics, eg fingerprint or iris scan)… The use of SCA will become mandatory 18 months after the entry into force of the RTS, ie once the RTS is published in the Official Journal of the EU, scheduled for September 2019.”


EU to enable national eID data to be used to secure third party online services

Ministerial declaration on eGovernment — the Tallinn Declaration — European Commission — “We will in our countries… enable the private sector to make use of national eID schemes and trust services in securing the delivery of their digital services, where beneficial to the citizen… We will in our countries… make it possible for citizens and businesses to digitally manage their personal data held by the public administration.”


EU regulators raid banks over fintech access concerns

Antitrust: Commission confirms unannounced inspections concerning access to bank account information by competing services — European Commission — “The European Commission can confirm that on 3 October 2017 its officials carried out unannounced inspections in a few Member States concerning online access to bank account information by competing service providers… These alleged anti-competitive practices are aimed at excluding non-bank owned providers of financial services by preventing them from gaining access to bank customers’ account data, despite the fact that the respective customers have given their consent to such access.”


EU agency calls for action on IoT security

ENISA logo

The EU Agency for Network and Information Security (ENISA) is calling on the European Commission to define a policy framework ensuring minimal requirements for the security of Internet of Things (IoT) devices along with the development of mandatory staged requirements for security and privacy to give stakeholders a “level playing field” in implementing trust into connected devices and IoT systems. More









NFC World

EC consults on IoT

The European Commission (EC) has started a public consultation to find out what framework is needed to unleash the potential benefits of the coming ‘internet of things’... More


NFC World

European regulators put brakes on UK NFC joint venture

Orange, O2, Vodafone, T-Mobile

The European Commission has opened an in-depth investigation into the planned NFC joint venture between Everything Everywhere, Telefónica and Vodafone UK which will delay launch until after the London Olympics and casts doubts over the timetable for the introduction of similar projects in a number of other European countries. More



NFC World

UK NFC JV files with Brussels

Orange, O2, Vodafone and T-Mobile

The NFC joint venture between three UK mobile network operators has now filed for approval with the EU to go ahead with the scheme, code named ‘Project Oscar’, the Guardian reports, despite on-going objections from excluded carrier Three... More




NFC World

EU calls for comment on future of payments

European Union flag

The European Commission has published a green paper assessing the current card, internet and mobile payments landscape and is asking stakeholders to contribute their thoughts on how to ensure a modern, integrated payments environment can be implemented across Europe. More


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