Open Banking

Emerging payments rails that are often rivals to legacy systems such as the interchange, and that facilitate integration between banking and payments apps offered by many different providers.

EUROPEAN COMMISSION INTRODUCES PSD3/PSR TO ADVANCE OPEN BANKING

$ Transfers and Digital Payments, 2023, ALL CONTENT, Central Banks/Government, Link, Open Banking, Real-Time Payments, Tink, Visa /

In this white paper, TINK (a Visa company) explains how PSD3/PSR is a welcome addition to the development of open banking in Europe. PSR should address standardization issues and past problems with APIs. The requirements should be passed before the summer of 2024 with enforcement happening by the end of 2025.

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OPEN INSURANCE IS STILL ALL BARK AND NO BITE FOR NOW…BUT MANDATED OPENNESS WILL SOON CHANGE THAT

2023, ALL CONTENT, Innopay, Open Banking, Other Strong Payments Component (e.g., insurance, healthcare), PDF/DOC /

A brief description by INNOPAY of the relationship between open banking and another financial service like open insurance. The authors suggest that mandated openness will soon change otherwise slow developments.

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THE FUTURE OF INDIA’S DIGITAL PAYMENT

$ Transfers and Digital Payments, 2023, ALL CONTENT, Jasbirs Juneja, Link, Open Banking, Real-Time Payments, Redseer Strategy Consultants, Unified Payments Interface (UPI) /

In this publicly available report from Redseer Strategy Consulting, it is estimated that 85% of businesses in India will be digitally enabled by FY26. This means that a large majority of businesses in India will have embraced digital technologies and processes for their operations.

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