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No point. Like Open Banking / PSD, SCA and many other EU regs, GDPR also throttles innovation and adds compliance burden without providing any way to boost revenue to recoup the higher compliance cost. On top of that, many of them don't even cover the basics too well e.g. After years of tomtoming API access to banking data, EU Open Banking reg has not outlawed screen scraping or credential sharing after dissing them for years when the reg was in WIP status.

Banks used tokens, bingo cards, and many other "nextgen fintech" authentication solutions before RBI permitted / mandated SMS OTP. Like I still have a token from HSBC. Banks lapped up OTP since it let them transfer a bulk of their 2FA compliance cost to customers. Having tasted blood, I doubt if too many banks will go back to their costlier, pre-OTP 2FA alternative.  

Look forward to Jamie D proclaiming "We're an AI company, just with a banking license":)

Strongly disagree.

By its charter, media can publish any information of any public entity, and the definition of public and information are very wide in this context. This right is protected by First Amendment of the Constitution in USA and similar provisions in other democracies. Not legal advice but "public" extends to private limited companies and even individuals who are celebrities and "information" extends to rumors and even MNPI based on what media self-defines as "reliable sources". It works on the credo "the public has a right to know". I don't know why lawmakers felt that the public has a right to know the affairs of private limited companies and celebrities but that's not the media's problem.

There are zillion examples where media has used its right. (1) USA: The Information's reporting on the behind-the-scenes happenings in Open AI, a non publicly traded company, in the hours after the firing of its CEO Sam Altman (2) India: Reporting of financial results of Byju's, a private limtied company (3) Paparazzi photographs of celebrities inside their house. 

This is one of the major differences between media and other industries. To be sure, in return for this privilege, media is liable to be fined and punished in other ways if its reporting contains material defects.

PS: None of this is legal advice.

Trillion data points? Can we get a sample of just one billion of them??

As I highlighted in Open Banking: EU v. USA, "there has been a slew of A2A payment apps in EU / UK during the last 10 years e.g. PayByBank, PayM, PingIt, Zapp in UK, iDEAL in the Netherland, and EBA myBank in EU. They were all built without Open Banking. The ones that succeeded did so without Open Banking. I'm guessing that the ones that failed will continue to fail even with Open Banking."

While "changing economic conditions" is the Politically Correct Fall Guy for every failure now, I wonder why KikaPay, founded in 2018, didn't flourish during the booming economic times for tech of 2020-2022.

LOL! That'd be a canonical example of self-fulfilling virtuous cycle!

Biometrics is arguably one of the biggest flops in finserv industry of all times. I've lost count of the number of times the tech was supposed to change the future of authentication by next year for the last 20 years. Fingerprint scanner simply doesn't work reliably or fast enough under real world conditions. Except the very high end ones in expensive iPhones, that is, which is way above the paygrade of contactless credit cards. Besides, with countries increasing the limit of PINless transaction values on contactless cards, who needs any form of authentication - let alone biometrics - on a credit card anyway?

Maybe it's only me but it'd be easier to believe these alarmist figures if Visa wasn't a credit card company and / or its acquisition of A2A RTP enabler Plaid had gone through successfully!

Problem is some of humankind's greatest grifts from Shiny New Toys have also happened within Wannabe Innovators' lifetimes. So it's futile to judge voters and better to leave it to them to worry about their governments. I'd rather focus on the evils / benefits of CBDC for Citizens. For example:

Evil for Citizen: Citizens think government will cancel CBDC of dissidents. This can happen in the short or medium or long or any term after CBDC is launched. 

What is the benefit of CBDC to Citizen to compensate for this perceived / real evil that can be realized within the same timescale?