PSD2 heralds a new dawn for mobile payments, as the regulatory technical standards around the upcoming European open banking regulations are expected to put mobile devices at the heart of new payment techniques. But despite the regulatory environment nudging markets towards certain payment types, it is not easy to predict exactly how consumers will adopt the technology.
Deutsche Bank plans to partner with fintechs that have complementary business models, rather than buying out tech start-ups and competing in the market, bank executives said at press briefing this week. They also discussed future strategies for the technology, securities and payments spaces.
Africa presents the ideal environment for new cash and payments services architecture by linking rapidly changing customer expectations with new technologies. This puts banks at the centre of the creative clash of trends and technology as Africa’s financial institutions harness disruption for innovation and growth.