National authorities need to overcome cultural differences and establish a pan-European grace period

2019 is a challenging year for banks and other players in the card payment ecosystem. At the beginning of the year, issuing banks had to fit in 3-D Secure 2.0 to protect customers against unauthorized use of their credit card. The technical implementation of this online security standard is much more complex than its predecessor 3-D Secure 1.0, so we can rightly call this a major challenge for issuers.

Can the incumbent financial services industry remain relevant in the era of platformization?

Non-European finance players stole the show on the first day of Money20/20, the largest European fintech event in Amsterdam. American payment company PayPal grabbed the spotlight when it announced the launch of the PayPal Commerce Platform, an e-commerce system that facilitates buying and selling, fully equipped with functions like fraud protection.