<html>
<head>
<meta http-equiv="content-type" content="text/html; charset=UTF-8">
</head>
<body>
Hi list and Ortwin from NextGenPSD2,<br>
<br>
Since Apple Pay/EMV apparently is not considered being a competitor
to Open Banking/PISP, I take the liberty raising this issue again.
In the end it is up to the consumers to choose.<br>
This excellent video clip by EMVCo shows the core (ARQC) of EMV
authorizations: <a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=h8TxLRN-SuM">https://www.youtube.com/watch?v=h8TxLRN-SuM</a><br>
<br>
EMV relies on "Card Processing Services" which through card number
(PAN) databases locate and interact with the associated <i>Issuers</i>
who does the actual validation of authorization signatures
(cryptograms). <br>
<br>
This is an (with respect to user => bank) <i>end-2-end secured
scheme</i>. Open Banking Wallet/Saturn use the same core security
concept but replaces the card number with an <i>Issuer URL</i> to
avoid external processing [1].<br>
<br>
What's missing then? Well, the Merchant/Payee should of course also
be authenticated in some way. Using EMV this is based on TTPs that
vouch for Merchants. In the Open Banking Wallet/Saturn this is
accomplished in a smarter way which eliminates the need for TTPs
dealing with authorizations. A fairly rudimentary (and published)
Merchant hosting scheme may though be needed for scalability
reasons.<br>
<br>
Since ECB have publicly expressed that they want to <i>reduce
dependencies</i> on Card networks as well as on Apple Pay [2], why
should they be interested in promoting a <i>new</i> kind of TTP
like the PSD2 PISP?<br>
<br>
As I have shown, there seems to be no technical issues having a
dual-mode API, ultimately making Open Banking APIs the core for <i>all</i>
payment authorizations.<br>
<br>
The only (technical) requirement is that a payment provider holds
accounts (funds) which unlike an (in my wording) "Artificial
Firewall", is a <i>genuine service</i>.<br>
<br>
Yeah, cooperation is difficult, these guys took it to another level:
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=P9mybTArlsk&feature=youtu.be&list=RDP9mybTArlsk">https://www.youtube.com/watch?v=P9mybTArlsk&feature=youtu.be&list=RDP9mybTArlsk</a>
:)<br>
<br>
Thanx,<br>
Anders<br>
<br>
1] <a class="moz-txt-link-freetext"
href="https://www.youtube.com/watch?v=OWn8sg7Oy3I&feature=youtu.be&list=PL2hDUr0L67peLTaxhkmwdH0F62g3F4f7Q&t=295">https://www.youtube.com/watch?v=OWn8sg7Oy3I&feature=youtu.be&list=PL2hDUr0L67peLTaxhkmwdH0F62g3F4f7Q&t=295</a><br>
<br>
2]
<a class="moz-txt-link-freetext" href="https://www.paymentscardsandmobile.com/pepsi-a-european-payment-system-to-rival-visa-and-mastercard/">https://www.paymentscardsandmobile.com/pepsi-a-european-payment-system-to-rival-visa-and-mastercard/</a><br>
<br>
</body>
</html>