“By January 2018 banks must comply with the EU’s second Payment Services Directive (PSD2), intended to improve online payment protection, encourage payment services innovation, and make cross-border payments safer. We’re finally entering the modern age of payments and it’s happening because the regulators are forcing digital transformation through changes such as PSD2, which affects every part of the payment value chain.”
That’s the view expressed by Richard Broadbent, Managing Director and General Manager of Wincor Nixdorf, in his January 2017 Finextra article ‘From contactless to compliance: preparation is crucial for the next stage of the payments revolution’. Earlier on in his article he comments:
“Today, smartphones are the driving force behind a lot of innovation and changing consumer habits. For example, they are playing an increasingly important role in contactless payments, which are booming around the world. In the UK, the amount spent by shoppers using contactless soared by 166% in 2016, with half of Britons now using contactless payments at least once a month.”
Found out how to invest to compete.
Published on the Kurtosys Blog. Author: Graham Jarvis. #YearInReview #2017


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