[Openid-specs-fapi] SPC for Open Banking

[Anders Rundgren]

As you all know, the International card networks, Google, and Microsoft have recently launched a system for securing online card authorizations (SPC).

I would not be surprised if banks eventually will be more or less FORCED to support SPC because they cannot really compete with the platform vendors.  This may very well be the beginning of the end of the SCA app.

I'm not able to tell if SPC is compatible with Open Banking standards, do you?

Personally, I never understood why POS and online payments couldn't use the same authorization system and backend. Due to the lack of legacy, the Chinese payment giants didn't even have to think about that :)

You may take a peek at this recent payment mandate by the EU:
https://ec.europa.eu/commission/presscorner/detail/en/ip_22_6272

Since the EURO folks have no counterparts to EMV and SPC, I think it is time stepping up the game. Here is a recent mini-presentation of mine showing the inner workings of FIDO combined with a Wallet:
https://fido-web-pay.github.io/specification/fido-wallet-a.rundgren.pdf
I have verified everything as separate components but not yet integrated it in a browser.  I'm not even sure I'm the right person taking on such a task either...

Would this scheme present a threat to Open Banking?  Not at all, it is just another flow involving a single API method!

Cheers,
Anders