Redefining strategies in the new ecosystem
The PSD2 aims to create a level playing field for all kinds of players in the European payments market. The goal of the directive is to enable new payment services, ensure transparency and fair competition to the benefit of consumers. As a result new players, called Third Party Providers, are entering the payment ecosystem, and will force traditional European banks to make their positioning on the value chain evolve.
Some of the most progressive banks are already scanning the new area of Open Banking, and others have set out to become a TPP themselves. Those aiming for the TPP role are mainly banks, who are very active in the acquiring business. But also, retail banks with a lot of accountholders might have strong interests in developing PISP and/or AISP services available to their end customers.
Regardless of whether a bank aims just for basic compliance or wants to go much further, equensWorldline has the ability and the competences to act as trusted strategic advisor as well as technical service provider all the way.
Our role in the new ecosystem
The new ecosystem is all about partnerships in order to optimize the complete service package to the end customer. For instance, facilitate the personal finance management for bank customers clearly goes way beyond ‘just’ offering Account Information Services (AIS). All players need to (re)define their position in the value chain, and look for suitable partners to team up with. This also applies to equensWorldline as a payments service provider. We consider our role in the new ecosystem two-fold. On the one hand we act as gateway to banks: providing the infrastructure to facilitate the collection of payments information from the banks. In addition, we act as ‘orchestrator’: bringing skills and capabilities of different partners together in order to be able to provide the best possible solution for our clients and their customers.