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    miroslav.pekarek
    06. 6. 2019
      ·  Upraveno: 06. 6. 2019

    Money 20/20 feedback

    v PSD2 / English

    One of the feedback from Money20/20 Europe is that Mastercard is continuing with their innovation solution using their payment experiences at the new era of PSD2.


    Mastercard has unveiled a suite of open banking applications and services designed to help financial institutions and third party providers make the most of the PSD2 era.

    source: Finextra

    New research from Ovum suggests that delivering on the promise of Open Banking will require market participants to come together to:

    • develop standardised mechanisms by which banks and TPPs interact,

    • establish ecosystem-appropriate measures to minimise fraud exposure

    • provide clarity and consistency on managing enquiries and resolving disputes


    Mastercard has put together four offerings to help with this:

    • a single connection to banks' Open Banking functionality

    • real-time verification of TPP registration status

    • a centralised enquiry and dispute resolution service

    • advice and hands-on support service for banks building their Open Banking strategies


    Mastercard has already signed up several partners - including Kikapay, Streeva, Tribe Payments and Alior Bank - in the launch markets of Poland and the UK.

    Jim Wadsworth, SVP, Open Banking, Mastercard, says: "Mastercard Open Banking Solutions will provide the sector with expert advice, leading-edge technological support and fills a gap that will provide peace of mind to end users, which in turn will support Open Banking adoption."


    Source: Finextra, 4.6.2019

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