More talks in the program:
10:15 - 11:05
Anything from a few basis points to over 5% get shaved off almost every payment, sometimes twice. From ACH, VisaNET to SWIFT, RTGS and SEPA the networks take a small bite but FX and the acquirers are where the vast majority of the money goes. It’s not just the consumers but many businesses don’t even realise they’re leaking money, to them it’s just the cost of sale. The PSD2 is an attempt to limit the leakage in Europe, it’s a headache for banks but it opens up opportunities for others. There’s well over a trillion dollars to play for, the race is on. John will walk through the payments landscape from acquiring to disbursements, PSPs to netting and settlement. With of course a sprinkling of BlockChain for the hipsters.