[Openid-specs-fapi] it may be too late for the banks to save their position in payments

Tom Jones thomasclinganjones at gmail.com
Fri Mar 9 23:20:12 UTC 2018

Which leaves me to wonder why FAPI is not just good practice for any app
that allows money to be extracted from users. I think the title FAPI is, at
a minimum, misleading. If openID wants adoption of this profile it needs a
broader mandate, and a different name.

>From Bloomberg
*Amazon’s checking-account push shows its next target—*swipe fees
Jeff Bezos changed the way America shops. Now he wants to change how it
pays for things. Amazon’s foray into financial service could disrupt the
decades-old card payments system, a move that some say could save the
retailer $250 million a year in fees.

“Everyone in the ecosystem is pretty much suffering with something like
this,” said Dan Dolev, an analyst at Nomura Instinet. “Initially, it’s just
a risk for whoever touches Amazon in terms of processing and acquiring. But
down the road, if it sparks a trend and people’s usage patterns change
because Amazon is just so present, then that’s a risk.”

Peace ..tom
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