TheRetailer_Summer_19

Do merchants think open banking is going to revolutionise payments? We asked 100 of the largest European merchants whether they thought open banking would revolutionise the payments industry.

Closing Remarks While merchants could see substantial benefits, what would consumers get? Merchants must be willing to pass on some of the benefits to consumers in the form of rewards points, discounts, or other financial incentives in order to ensure that customers choose to pay via PISP and become comfortable with the payment process. Ultimately, the levelled playing field that SCA can bring will help to drive uptake of PISPs and other non-card payments. The faster the industry can implement SCA in an innovative and friction minimising way, the faster merchants will finally be able to benefit from real, tangible competition in payments acceptance. To find out how CMSPI can guide merchants through PSD2 compliance and readiness, and ensure you come out the other side of 14th September with the best possible solution and outcome, please email info@cmspi.com. “This painful transition may be the change required to finally introduce competition to cards in the online arena in Europe.” “While PISPs may not currently top merchants’ priority lists, the potential benefits are too great to ignore.”

ROBBIE MACDIARMID //rmacdiarmid@cmspi.com //+441616416035 //cmspi.com

Unaure Yes No

the retailer | summer 2019 | 31