The CAPS framework has been co-developed together with other payment processors, banks and financial service providers in Europe. The aim of this framework is to define joint pan-European PSD2 standards. This includes technical standards, standards of operation procedures, standards for dispute management, and a standard directory which can be used like a search engine and for instance allow for the TPPs to easily reach in principle all of Europe’s around 4,000 banks at once instead of having to reach out to them one at a time.
CAPS’s intention is to avoid a rapidly increasing ‘fragmentation effect’ as a direct result of PSD2, which could lead to plain chaos in the market amongst the many TPPs across Europe and work against EU’s intention of creating a level playing field and an open and competitive market.
CAPS Open Framework: four key elements
- The CAPS Network in order to facilitate easy reach for third parties using a single entry point without bothering about regional flavours, changes and access protocols on the AS-PSP side, directory services and interoperability
- The CAPS Common Language that ensures unambiguous understanding of the messages and data exchanged between the participants where no standard exists
- The CAPS Toolbox will make it easy for a participant to use the CAPS Framework and provides the supporting tools and environments
- The CAPS Infrastructure Services provided by the CAPS Service Providers which manage onboarding and ensure that the CAPS eco-system works at scale and any errors or misunderstandings are resolved fast and efficiently