What is currently moving the industry?
What will be possible in 20 years?
What if visions of the future become solutions for the present?
Let’s find out!
Unity and justice and freedom …
… does this also apply to European (electronic) payment transactions?
The anthem of electronic payments
The endless shoals of the European payments market. The year is 2021, and these are the adventures of the EBA spaceship, which is still navigating the shoals of regulation with its pan-European crew. Sometimes it seems this spaceship is actually exploring “alien worlds,” and is also home to an “alien” or two, but read on … at OSTHAVEN!
Does MiCA bring the turning point in crypto regulation?
Will MiCA bring the tipping point in crypto asset regulation?
Everyone has heard of MiFID. But have you heard of MiCA? If not, MiCA stands for “Markets in Crypto-Asset”, just as MiFID stands for “Markets in Financial Instrument”. In other words, it’s about nothing less than the future constitution of the European crypo market. What rules will govern stablecoins, significant tokens, crypto asset service providers, etc. in the future? Read at OSTHAVEN!
Has Bitcoin arrived in the payment mainstream?
Everyone is talking about Bitcoin. Does anyone own and use them?
It’s hard to escape the subject of Bitcoin in particular and cryptocurrencies in general these days. Is the country full of crypto enthusiasts and has the topic fully arrived in the mainstream of the payment world? Or is Bitcoin simply the digital tulip of the 21st century? Read now at OSTHAVEN.
Covididence 2020 in payment traffic
Covid 19 and SCA give old payment features a new shine
How “Strong Customer Authentication” is changing the payments industry: The recent growth push in digital payments is often monocausally attributed to “Corona.” But the chain of causes goes much deeper – and a crucial link in this chain is: “Strong Customer Authentication”. But how does SCA work exactly? And what does it depend on? Read now at OSTHAVEN.
Social distancing, hand hygiene, face masks and contactless payment
Contactless and cashless payment?
Everyday mask, keeping your distance and thorough hand washing have already become second nature to us – paying without cash not so much yet. How fanning fears prevented the triumph of digital payment methods and at the same time made them possible. Read now at OSTHAVEN.
Mobile Payment – between commodity and particular interests
Samsung Pay comes to Germany!
A customer-oriented user interface, convenience and the potential to reach every fifth German are causing a stir. Ready or not: Samsung Pay, the payment service of the technology manufacturer, is coming to Germany and claims its place in the end customer segment. After Apple and Google, Samsung is now also entering the mobile payment business in Germany. The question whether there will be a national alternative or not remains? Read now at OSTHAVEN.
Digital currency: Central Bank Digital Currency? – Cash is dead, long live cash!
Cash, that’s always been there, hasn’t it?
Digital euro – breakthrough or dead on arrival? Politicians, central banks and the financial sector are still hesitating. And yet there are increasing signs that the project of a digital European currency could soon gain momentum. Meanwhile: Do consumers really want a crypto-currency that is as solid as a rock? And aren’t the Americans and Chinese already too far ahead of us? Read now at OSTHAVEN.
„European Payment Initiative: Third time’s the charm…or 4th?!“
The next European payment initiative
Here we go again: Everything points to a new start for a unified payment system in the euro zone. Is the European Payment Initiative (EPI) an innovative and sustainable concept – or does it (once again) miss the realities of the payment industry?
„The future of commerce: the end to payment competition?“
Payment is not an end in itself
Probably no one would object if the annoying process of “payment” could be dispensed completely. …
„Fiscalisation: New cash registers for retailers in Germany?“
Fiscalisation will come into force in Germany on 01.01.2020.
The primary objective of this measure is to curb the generation of black money by documenting each transaction that has occurred…
„The SCA launch: a 5-minute instant soup?“
On 14.09.2019 the martyrdom of European payment diversity in electronic payments began
When the European Commissioners were considering an amendment to the PSD1, which came into force on 1 November 2009, the desire for greater security in electronic payment transactions was one of the driving factors, along with the idea of a level playing field in the payments market. Very noble and also challenging goals…
„Status Quo in B2B Payment Transactions: From Desire to Reality“
Are banks forgetting B2B Payments?
While citizens in Germany are consciously or unconsciously using new and innovative forms of payment beyond cash, mobile-only banks and other payment means driven, among other things, by Fintech’s, the use of innovative methods is stalling in other areas of banking…
„The OSTHAVEN view of the present & future of Artificial Intelligence in Banking & Payment“
Are we really abolishing ourselves?
The topic of artificial intelligence (AI) has been discussed so often in recent days. The German government plans to spend several billion Euros to make Germany fit and to keep up the pace in the dramatically increasing competition of R&D within the field of AI. Companies from Silicon Valley compete with transfer fees for demanded researchers. One might think that AI is about to seize world domination…
„Curse or blessing – from the (mis)understanding between banks and FinTechs“
Banks and FinTechs are now in reality?
Banks and FinTechs, not so long ago still like fire and water, have apparently arrived in reality in the meantime. The FinTechs are increasingly looking for supporters for their own ideas and find these more and more in the banking environment, because here too a fundamental rethinking has taken place. And each of the two formerly opposing groups seems to have found its position in the game of customer favor and is focusing on its strengths…
„Quo vadis foreign payment transactions?“
New providers are pushing into a market dominated previously by banks
So far, banks in particular have assumed that foreign payment transactions are a monopoly of the banks. Until now, it has been complicated and time-consuming to provide this service. . This “quasi-monopoly” of banks in foreign payment transactions (cash (money) transfers from Western Union and Co. excluded) is slowly dissolving and new providers are successfully establishing themselves in the market for foreign payment transactions…
„Bank diversity in the conflict between innovation and economic efficiency“
Continuous decline in the number of German banks and savings banks.
According to the German Bundesbank, there were 1,823 credit institutions (banks and savings banks) in Germany at the end of 2017; compared with 2007, this represents a reduction of almost 20 percent.
According to the Savings Banks Association, the number of savings banks alone has fallen to 385 (a decline of 28) since 2015. The reduction in the cooperative financial sector in the same period was actually 106, down to 915 …
„PSD2 – A race against the clock?“
What banks should consider for timely implementation.
On 13th January, 2018, the PSD2 came into force and has been the law since then. But there can be no talk of relaxation among banks in Europe, because there is still a lot to do. The regulatory standards for strong customer authentication and common and secure communication, RTS for short, issued by the European Banking Authority (EBA) give financial institutions 18 months to implement them. That sounds like a lot of time, but …
„3D Secure 2.0 – Facelift or Quantum Leap?“
The new generation of cardholder authentication “3D Secure 2.0”
3D Secure has often been (and still is being) promoted as the magic miracle cure, which should cure the misery of default on the merchant side. Initiated by VISA in the early years of this millennium and prominently placed as said miracle cure, however, the teething troubles soon showed up – first and foremost the problems with the “conversion rate” …
„The Future in Banking
Once Science-Fiction – today it becomes reality.
Trends come and go – this also applies to payment transactions. The drivers ofinnovation are often technological progress, regulations, costs and thecustomer. But what are the latest developments and research in this area? An OSTHAVEN perspective on the future in banking and payment. Now, be honest, how many different passwords do you actually use for youreveryday business? Studies have shown that …
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„Options for PSD2 implementation“
Compliance only vs. Exploitation of Opportunities
Although in force since January of this year, in the eyes of many PSD2 will only become really relevant and complex with the final entry into force of the RTS (Regulatory Technical Standards for PSD2) on 14th September 2019.
In addition to Strong Customer Authentication (this is worth a separate contribution…), the RTS will …
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„Banking is necessary, Banks are not.“
Der Zahlungsverkehr als bedrohte Kernkompetenz
Das Zitat „Banking is necessary, Banks are not“ bietet ein gutes Entre, wenn es um die Zukunftsgestaltung von Banken geht und ist daher fester Bestandteil von PowerPoint-Slides, die vor der Führungsebene in Banken und Sparkassen gehalten werden. Es lässt sich in diversen Artikeln und Magazinen wiederfinden und wird häufig im Zusammenhang mit der Disruption im Finanzsektor genannt. Die Worte stammen von Bill Gates und wurden vom selbigen bereits 1994 kundgetan. Zu der Zeit befand ich mich in der vierten Klasse und war schlicht über die Einfachheit des Bankensystems verblüfft. Wenn man Geld brauchte, ging …
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