[Openid-specs-fapi] Industry Std: EMV+SEPA Inst+Open Banking
anders.rundgren.net at gmail.com
Wed Apr 22 06:06:30 UTC 2020
I have off-list received a presentation of a proposed multi-party effort to make SEPA instant payments usable at the PoS and on-line, based on the existing EMV standard and an enhanced Open Banking API. From what I can deduct, this proposal is not building on the OAuth2 security model. In fact, it is almost a carbon copy of what I have been pestering you about for a while. Some ideas seem to hit many brains at approximately the same time :)
However, creating a specific EMV/SEPA solution for Open Banking is probably not necessary; a dual-mode Open Banking API should suffice (I obviously need to verify this...).
The alternative to Open Banking is entirely new plumbing which seems like a waste since a dual mode should affect less than 5% of the code base of a well-designed Open Banking implementation. In the end it is of course a question for the banks.
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