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6
Business
Industry andmarket overview
43
Worldline
2016 Registration Document
of new players and the development of innovative mobile and
internet payments for both existing and new payment service
providers in Europe.
Regulatory changes are expected to promote the emergence
from 12 to 24 months after the date of entry into force. The
directive enlarges the scope of the existing PSD regulation by
limiting the exemptions provided for in the PSD and extending
its applicability to “third-party payment service providers” who
provide remote access to payment account services or
payment initiation services through online platforms, in relation
to payment accounts held by other payment service providers.
PSD2 will result in the creation of new regulations applicable to
payment initiation services and services for accessing account
payment balances.
The regulations applicable to payment services are constantly
changing. The revised Payment Services Directive (PSD2)
entered into force on January
13, 2016 followed by a
transposition period of 2 years, as described in Section
6.9. For
implementation, the European Banking Association EBA is
mandated to develop 6 Regulatory Technical Standards (RTS)
and 5 sets of Guidelines (GL) within defined deadlines ranging
This proposal could have an impact on certain payment activities
carried out by the Group, in particular services related to the
iDEAL and MyBank e-payment platforms and Sips card payment
platform, and would require a review of the authentication and
authorization procedures that would be implemented in the
context of PSD2 in order to adjust the Group’s payment
platforms, as necessary, so as to comply with the applicable
directive. For a description of these services, see Section
6.5, “The
Group’s business” of this Registration Document. Worldline has
set up an internal PSD2 transformation program to analyze and
mediate the impacts and to contribute actively to the
consultation of EBA developing RTS and GL in 2016 and 2017.
Newentrants and their impact on the
6.2.2.5
industry business Model also create
newopportunities for Payment
Services Providers
payment and with plenty of money to invest, the pace of
innovation threatens to leave incumbents trailing. Apple Pay,
Android Pay, Facebook’s P2P payment service via messenger
etc. cannot be ignored.
The GAFA (Google, Apple, Facebook and Amazon) have not
only changed the way consumers view customer service and
shopping, they have now well and truly entered the world of
New Fintechs, unencumbered by legacy technologies are also
changing the way consumers interact with financial service
providers as we see a new wave of digital only banks for
example.
Competitive Landscape Payment Service Providers
6.2.3
both card and non-card payment instruments, Worldline is
ideally positioned to exploit the growth of alternative payments.
Just as the payment ecosystem is complex, so too is the
competitive landscape. Historically, payment services market
participants have focused on only one or a few components of
the extended payment services ecosystem without covering the
full chain. The following diagram summarizes the Group’s
positioning relative to its main competitors in the European
payment services processing market. By supporting a range of
Payment
Service
Processing
in Europe
Nets
FirstData
Ingenico
Wirecard
GlobalPayments
TSYS
SIA
SixPaymentServices
Issuing
transaction
processing
Services
tocardholders
andissuers
Services
tomerchants
Acquiring
transaction
processing
Commercial
acquiring
Acceptance
POS
e-commerce
Services
tonewdigital
businesses
WorldPay
Core offering
Non-core offering
CSM
1
Credit/Debit
transfers
Source: The Company’s best estimates based on public sources.