Community

There is a proposal mooted by the PSF for a centralised payments repository which might be the answer to your question in a few years time.. Its not in the current scope but I do think it can be easily extended provided security and consent rules are met

@James Piggot, there are options in the UK like Moneydashboard and yodel but all of them use screen scraping which is open to security risk and questions on data integrity..

Looks like the author wanted to promote his offerrings by generalising the problem.

Not sure if Ketharaman's comments were intentional ?

Good blog post on laying out the roadmap from a Customer touchpoint perspective. Good read

Congrats Ed.

Did your grandma understand finally :-)

Apt & well covered all the relevant aspects

While I agree that Payments Infrastructure is in need of reconstruction and development to cope up with technology advances over the years, Punitive action  will not solve the problem. What is required is a collaboration effect between industry and regulators to agree on a road-map and monitor its implementation. Most of the innvoation in the Payments space has been on Consumer facing channels and the Infrastructure has been left out, which needs to be corrected.

this is where the likes of iZettle might have a differentiator as the PIN is entered on the device and not on the phone.. Possibly Square has compromised on the 'perceived security' for the size of the device ?

I think its become fashionable to bash up the Banks for everything. As it is they are struggling with too much regulatory overhang and if this situation continues, then the cost of doing business will not be attractive and they may just give up and shut shop