Anything from a few basis points to over 5% gets shaved off almost every payment, sometimes twice. All of these networks from ACH to VisaNET, SWIFT to RTGS, and even SEPA take a small bite. 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 largest companies are paying several $ billion in FX every year.

The PSD2 is an attempt to limit acquiring costs in Europe, a costly headache for banks, but it opens up opportunities for others. The total volume of disbursements world-wide is over $200 trillion, that’s a hell of an opportunity!  In this session, John will walk through the payments landscape from acquiring to disbursements, PSPs to netting and settlement. And of course, there’ll even be a sprinkling of BlockChain for the hipsters.