The European market is facing a multitude of payment methods that all share comparable functionality, but with different customer interfaces, creating implementation challenges (and related costs), especially at bank IT systems. Today the Berlin Group announced in public that its PSD2 Open Banking standards already support new Open Finance schemes (e.g. EPC SPAA and giroAPI),…
PRESS RELEASE – Berlin Group starts new openFinance API Framework Today, the Berlin Group announces that they will start to work on a full openFinance API (Application Programming Interface) Framework. Leveraging the NextGenPSD2 API Framework technology and infrastructure investments, openFinance allows banks and TPPs to offer enhanced services, products and information that will benefit market…
SEPA Card Clearing Framework meets European standards At the instigation of the European Central Bank and the European Commission, the Cards Stakeholder Group (today’s European Cards Stakeholder Group ECSG) was set up in 2009 to develop and promote Europe-wide card payment standards. The ECSG pursues this goal through the maintenance and evolution of the SEPA…
Berlin Group initiates a PSD2 Access to Account Framework The revised Payment Services Directive (EU 2015/2366, also known as PSD2) came into force on 12 January 2016 and for most of the provisions, Member States will have until 13 January 2018 to implement them into national laws. The most debated and impactful parts of the…