Open Forum on Pan-European Instant Payments · 2018-09-26 · EBA Open Forum on pan- European Instant Payments April 17 th, 2018 The Otto Group is one of the world’s largest online

Open Forum on Pan-European Instant Payments, 17 April 2018

Open Forum on Pan-European Instant PaymentsFrankfurt17 April 2018

EBA InformationsveranstaltungWien, 8. Mai 2018CUG

Page 1

Participants in the forum are reminded of their responsibility to observe anti-trust laws.

The EBA Anti-Trust Policy is available at the EBA website.

https://www.abe-eba.eu/media/azure/production/1352/eba_antitrust_policy_20170602_final_clean.pdf

https://www.abe-eba.eu/media/azure/production/1352/eba_antitrust_policy_20170602_final_clean.pdf

2Open Forum on Pan-European Instant Payments, 17 April 2018

WELCOME AND INTRODUCTION

Wolfgang EhrmannChairmanEuro Banking Association


EBA Open Forum on pan-EuropeanInstant Payments

… and now where is the demand side?

• Wolfgang Ehrmann

• Chairman of the Board


Pan-European Instant Payments – three years fromdesign to operations

ERPB, 01. December 2014 EPC, 30. November 2016 EBA CL, 21. November 2017


The EBA Open Forum on pan-European Instant Payments

Initiated by the EBA in response to the Euro Retail PaymentsBoard’s (ERPB) call for action, the Open Forum on Pan-European Instant Payments was set in place in March 2015and is geared at fostering a practitioners’ dialogue on servicerequirements for instant payments. The Forum will in particularserve to:• Support the “migration of minds” towards instant payments;• Foster a practitioners’ dialogue amongst PSPs at a pan-

European level on Instant Payment service requirements;• Facilitate a dialogue with other stakeholders;• Understand the perimeter of a new collaborative space for

infrastructure services to support Instant Payments;• Provide input into the up-coming Instant Payment Scheme

discussion in Europe;• Liaise with EPC;• Liaise with industry initiatives and also at a global level.


OFoIP: seven critical success factors

2: time criticality of putting a solution in the market

1: (non?-)relevance of use cases for the creation of an instant payment environment

“Speedy availability of instant payments will be key – the industry should aim for a quick start with a basic service allowing the development of additional products on top of this”

“There is a need for transparent rules to ensure instant payment services will be secure, standardised and subject to one regulatory regime and set of access rules”

3: need for a pan-European scheme-building effort

“Establishing pan-European reach will be the key challenge”

7: pan-European reach as the key challenge for PSPs

“Use cases are not the most relevant factor and they will evolve over time anyway. Instant payments will be used for a lot of different payments. PSPs should put in place infrastructure and processes that are capable of supporting multiple use cases and initiation channels.”

“PSPs will need to connect to an instant payment infrastructure and ensure real-time booking in their internal systems and speedy AML and KYC checks”

“Customers will need immediate availability of funds and immediate confirmation of a successful transaction”

“From a technical perspective, instant payments solutions should re-use existing standards and infrastructure elements where possible, taking into consideration both the pan-European and global aspect”

4: building on existing technical foundations/ingredients where possible

5: key customer needs with regard to instant payments

6: key pre-requisites at PSP level for instant payments


Pan-European Instant Payments are reality

© E

BA C

lear

ing,

201

8


Since its beginning, RT1 provided pan-European Reach

© E

BA C

lear

ing,

201

8


Number of participating banks is growing steadily

© E

BA C

lear

ing,

201

8


Instant payments – The new normal


ZOOMING IN ON CORPORATE TREASURYPart 1


Boris JendruschewitzVice President Corporate FinanceOtto Group

EBA Open Forum on pan-European Instant Payments April 17th, 2018

Boris Jendruschewitz – Vice President Corporate FinanceApril 17th , 2018

EBA Open Forum on pan-European Instant Payments


Agenda

1 The Otto Group

2 Use cases of Instant Payments in our main business areas

3 Our view on the future of Instant Payments

14


The Otto Group is one of the world’s largest online retailers

Founded as the mail-order company “Otto Versand“ in 1949, the Otto Group has been a family business since its foundation

Today, the Otto Group consists of 123 major companies operating in more than 30 countries in Europe, North and South America and Asia

The Otto Group is divided into three strategic segments: Multichannel Retail, Financial Services and Services

Currently, the Otto Group employs approximately 50,000 people

The Otto Group is one of the largest online retailers worldwide

Revenues in 17/18: EUR 13.7 bn (thereof EUR 7.8 bn eCommerce)

15


A diversified business: The Otto Group is a globally active group of retailers and retail-related service providers

16

Multichannel Retail(E-Commerce, catalogue sales and retail stores)

Services(Logistics, procurement and other

retail-related services)

Financial Services(Receivables management, innovative financial services)


Agenda

1 The Otto Group



17


Use Case ‘Retail’From quick win to new business models

18

Time

Potential

Instant processing of prepayments

Near Time

Medium Term

Vision

Access to new services and business models

New services (account information, returns, …)


Use Case ‘Services’Instant Payment against delivery

19


Use Case ‘Financial Services’Instant Payment in debt collection calls

20


Agenda

1 The Otto Group



21


New technologies are going to create completely new business ideasThere are various examples which could not be foreseen at the time of first introduction

22

Instant Payments is not a disruptive technology, but can change the industry and associated sectors !

Digitised books

E-Book-Reader

Self-publishing: unknown authors make their work available to a wide audience

Self-Publishing of books Initial point fornew business models

E.g. authorship courses


Why should management of all companies care about Instant Payments?

At its core, Instant Payment is a finance topic with wide-ranging implications for finance processes.

However, the overall implications are likely to be much broader. A cross-functional and company-wide perspective is needed to grasp the potential for changes across the entire organisation.

Instant Payments have the potential to gain strategic relevance and drive change in the market: New business models, changing customer behaviour or even entire new industries might emerge. The way we position ourselves for this technology may therefore become a key differentiator from our competition.

Finance implications

Company-wide implications

New business models

Market implications

Competitive advantage

23


“Request for payment“ may increasingly become standard for bank transfers

24

Customer’s bank

E-commercecustomer

Customer’s payment application(e.g. online banking or third-party payment solution)

Online shop

Generates request for payment*2

* Message containing all relevant payment details which can be processed by the customer’s payment application

One-click confirmation initiates a (SEPA)

credit transfer

3

Online shop’s bank Money is transferred via SEPA credit transfer

4

Confirms receipt of money5

Completes shopping and proceeds to checkout

1

Higher convenience for the customer: Credit transfer details are automatically populated No need for manual input

Efficiency gains for the retailer: Fewer reconciliation cases Less risky than direct debit: No return / rejection risk In combination with instant payment technology, requests for

payment may become an efficient and secure payment method


Otto Group’s step-by-step implementation of an Instant Payment environment

25

Step 2: Reimbursements to customersvia Instant Payments

Step 3: „Request for Instant Payments“ via „Payment Initiation Service Provider“

Step 1: Instant processing of receivedInstant Payments

30

Boris JendruschewitzVice President Corporate Finance - Otto GroupWerner-Otto-Str. 1-7 22179 Hamburg

email: [email protected]

www.ottogroup.com


Norbert HamblochLeiter TreasurySTRABAG Property and Facility Services Gmbh

INSTANT PAYMENTS FOR CORPORATES – CHANCES AND CHALLENGES

STRABAG PROPERTY AND FACILITY SERVICES

NORBERT HAMBLOCH

17/04/2018

● Short portrait STRABAG PFS Group● Digitalization of payment transactions● IP Key Facts● IP B2P● IP B2B● IP benefits● IP challenges and no-goes

© STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018

OUTLINE

STRABAG Property and Facility Services (STRABAG PFS) is a leading real estate and industrial service provider with a high level of vertical integration along the value chain for the technical, infrastructural and commercial management of complete locations and entire portfolios.

The group’s workforce of over 14,100 employees generates € 1.1 billion with top industrial clients and all leading German property companies.

Its service portfolio comprises real estate management, technical and infrastructural facility management, construction in existing buildings and, via DIW, specialist services such as industrial maintenance and cleaning.

STRABAG PFS is represented throughout Germany with its own locations and employees, including at B and C locations. Through its integration in the STRABAG Group, the company is able to provide services for its clients internationally, including Europe. STRABAG PFS currently operates in Hungary, where it is the market leader, and in Austria, Poland, Slovakia and the Czech Republic.


EXECUTIVE SUMMARY


KEY FIGURESREFERENCES (SELECTION)

Head office Frankfurt am Main/Münster

Employees 14,141 (headcount)

Revenue € 1,098 million

Of which in Germany Technical facility management/building management: € 644 millionReal estate management: € 87 millionInfrastructural facility management/industrial services: € 366 million

Types of propertyunder management

● Offices ● Retail markets● Residential properties● Properties run by

operating companies

● Computer centres● Technical sites● Industrial properties● Production sites

Properties 72,600 (not including apartments)

Space undermanagement

30.5 million m2

Total lettings 331,000 m2

Assets underManagement

€ approx. 20 billion(property management for property companies)

Space management 20,000 moves per year10.7 million m2 of space under management

KEY FIGURES STRABAG PFS-GROUP*

* As of 31 December 2016

http://www.sueddeutscher-verlag.de/


LOCATIONS AND QUALIFICATIONS

PROPERTY MANAGEMENT

TECHNICAL FACILITY MANAGEMENT

RENTALS AND LETTING

400 real estate agents and specialists in contract management, property management, property accounting and incidental cost apportionment.● 200 property managers, including

71 in residential property services● 56 technical property managers● 14 locations

● 350 engineers● 2,700 craftsmen and master craftsmen ● 280 employees at 42 computer centres,

including 100 certified specialists ● 350 employees in the field of radio and

broadcast technology, including 27 specially trained tower climbers

● 352 locations and branch offices

100 specialists in user support and property marketing.● 32 letting managers● 12 locations● Preferred partner network with another

roughly 50 sales locations

INDUSTRIAL SERVICES / INFRA-STRUCTURAL FACILITY MANAGEMENT

● About 6,500 employees* at● 41 locations ● provide operations supporting

services, industrial cleaning andmaintenance as well as intersectoralinfrastructural facility managementin several industrial branches

* headcount

Hamburg

Berlin

Bremen

Hannover

Kiel

Schwerin

Rostock

Königs Wusterhausen

Magdeburg

Gutenberg

Leipzig

DresdenChemnitz

Elmshorn

Stade

Oldenburg

Leer

Osnabrück

Uelzen

Lübeck

Biesenthal

Potsdam

Biere

Wernigerode

Göttingen

Braunschweig

Flensburg

Bielefeld

Frankfurt

Dortmund

Düsseldorf

Cologne

Bonn

Münster

Essen

Duisburg

Aachen

Kassel

Erfurt

Darmstadt

Krefeld

Mönchengladbach

Neuss

RecklinghausenWesel

Steinfurt

Hagen

Netphen

Gießen Fulda

Usingen

EschbornWiesbaden

Trier

Koblenz

Düren

Meschede

Gera

Alzey

Minden

Konstanz

Munich

Nuremberg

Augsburg

SaarbrückenKaiserslautern

Ulm

Karlsruhe

Freiburg

Regensburg

Weiden

BayreuthSchweinfurt

BambergWürzburg

IngolstadtPlattling

Landshut

TraunsteinRosenheim

Weilheim

Kempten

RottweilOffenburg

Neustadt

Bad Muskau

Gotha

Artern/UnstrutNordhausen Radebeul

Philippsburg

RastattLangenau

SingenMemmingen

Heusenstamm

Stuttgart

Hanau

Ravensburg

Aschaffenburg

Glinde

Jena

Leonberg

Schkopau

Steinbach

Heidenheim

Passau

Suhl

Reutlingen

Bad Neustadt

MannheimHeilbronn

Schwäbisch HallAalen

CrailsheimAnsbach

Göppingen


REAL ESTATE MANAGEMENT

● Market and location analyses

● Property analysis● Location and optimisation plans

● Letting

● Tenant representation

● Relocation management

● Workplace management

● Tenant support and tenant loyalty● Lease contract management● Lease- and property accounting,

payment transactions● Accounting of service charges● Budget planning, controlling and reporting● Technical property management● Condominium/individual freehold management● Management costs and performance

management● Due diligence● Selection, contracting, and supervision of

external service providers

STRABAG Property and Facility Services GmbH

STRABAG Residential Property Services GmbH

PROPERTY COMPANIES/CORPORATE REAL ESTATE SOLUTIONS

RENTALS AND LETTING/SPACE MANAGEMENT


FACILITY MANAGEMENT

● Property management

● Inspection, maintenance, repair

● Fault management

● Energy management

● Building security, entry systems, video management

● Guarantee management

● Maximum availability

● Routine cleaning

● Glass and facade cleaning

● Maintenance of outdoor and green spaces

● Winter services

● Caretaker services

● Dish washing and kitchenservices

● Postal and copy services

● Reception and security services

● Inhouse removals

● Pest control

● Removals

● IT-supported planning and construction management from a single source

● Procurement andorganisation of constructionservices

● Obtaining necessaryauthorisations

● Fulfilling obligations to users, neighbours, and publicbodies

● Facility management duringconstruction

STRABAG Property and Facility Services GmbH

STRABAG Facility Services GmbH

DIW Instandhaltung GmbH

TECHNICALFACILITY MANAGEMENT

INFRASTRUCTURAL FACILITY MANAGEMENT

CONSTRUCTION MANAGEMENT (IN EXISTING BUILDINGS)


INDUSTRIAL SERVICES

MACHINERY AND SYSTEM SERVICES

● Servicing according to DIN 31051 forproduction engineering

● Assembly and disassembly● Retrofit● Services for paper machines● Services for machine tools● Service for Donau machine tools● Technological steelwork● Plant assembly● Pipeline construction● Railway vehicle manufacturing● Maintenance and servicing of machines

and plants for production of semiconductorproducts under clean room conditions

● Manifold cleaning processes, i.e. ultra-high-pressure water-jet cleaning up to 2,500 bar

● Dry ice cleaning, vapour cleaning, ultrasound cleaning etc.

● Cleaning of complete industrial facilitiesand painting systems

● Cleaning of production halls andwarehouses

● Servicing according to DIN 31051 forsupply engineering

● Execution of periodical examinations (i.e. shelves, ladders etc.)

● Individual services as for exampleautomobile detailing, ground working, industrial fillings

DIW Aircraft Services GmbH,

DIW Instandhaltung GmbH,

INDUSTRIAL FACILITY SERVICES

DIW Mechanical Engineering GmbH

DIW System Dienstleistungen GmbH


REAL ESTATE SERVICES 4.0Current developments in real estate

• Artificial intelligence in Property Management: What’s the use of data mining and machine learning in commercial real estate management?

• Robotic Process Automation-RPA. The complete automation of processes is advancing. • Digitalization of buildings: Digital maps of rooms and corridors implies new services. • Internet of Things IoT and sensors: “Predictive Maintenance“ facilitates infrastructure and technical

services. Sensors will tell you whether the air condition needs to be maintained, who is in the room, whether the air in the room is fresh, and where the furniture is located.

• Linking IoT and sensors with payment functions: “Pay per Use”. Linking sensors and digital wallets. Automated payments after an event.

• Private Blockchain for the safe and comprehensive storage for digital documents.

DIGITALIZATION OF PAYMENT TRANSACTIONS

Digitalization implies saving, storage and transport of digital information (electronic data) in contrast to analog data ● Email instead of paper● Instant Payments instead of “normal” transactions

Digitalization means to process the entire e.g. supply chain electronically: Current status: many media disruptions, no complete digitalization

ERP of thesupplier

• Paper bill• PDF• XML-bill

Transport

• Mail• Email• Dreams of the

future

ERP

• Scan• Transform• Direct

processing

Payment Originator‘sBank Transport Beneficiary

Bank

Batch-processing vs.

Real-TimeConfirmation

Multiple timesa day

Execution on pre-set date


INSTANT PAYMENTS: KEY FACTS

• Real time payment (max 10 s)• Max limit of €15,000 at the beneficiary bank • Finality of payment • Confirmation of (un)successful payment • Cash receipt is immediately available for the beneficiary • Availability of systems: 24/7/365• Only Euro payments in SEPA area • Scheme: basis SEPA CCT, but with “LocalInstrumentCode“=“INST“ • Assignment as individual transaction


INSTANT PAYMENTS FROM THE COMPANY‘S PERSPECTIVE

P2PPurchase and sale of goods,

objects between private individuals

B2PSalary payments Advancepayments Travel expenses

P2BPurchase and sale of goods,

objects in retail, internet shops etc.

B2BPayments to: suppliers social

insuranceutilitiestaxes


INSTANT PAYMENTS B2P • Salary payments (HR-system)

• Payment needs to be on the bank account at a certain date

But: today there is no guarantee that the bank takes responsibility for the timely and proper completion of the transaction

• Employees may have their salary at their disposal only during the course of the day and potentially not in time

• Different local bank holidays in Germany and Europe:

Only few days in common (TARGET-bank holidays)

Majority of banks are closed (also in Germany) and transfer retrospectively with the correct value date, no disposal of payment

Example: August 15 in Bavaria and BW


INSTANT PAYMENTS B2P

• Salary payments

In case of errors or improper performance in payment transfers (late payments) a penalty payment to the employees will be due : € 40 per personal claim (§ 288 Abs. 5 BGB) plus subsidiary claims e.g. default damage

• Manually initiated payments:

Advance payments on salary and travel expenses


INSTANT PAYMENTS B2B• Today ERP-systems are usually real-time-systems

• Payment processes are typically batch-processes

• Transition from batch to real-time-processing requires significant process modifications Payment runs during the day instead of during the night Multiple payment runs as required Continuous invoice management and approval process

• Problem: Cut-off times: range from 12:00 pm until 4:30 pm

• Authorization and execution of payment files mostly on the following day


INSTANT PAYMENTS B2B• Payments to suppliers

Suppliers today are the weakest link in the chain

High liquidity requirements

Low credit-rating

A high discount will be granted e.g. 8 days 3 % discount

Major challenge in invoice process flow from invoice receipt to acceptance and payment

Timely payment. Therefore creation of a separate payment method for urgent payments via TARGET in SAP. But: only same-day processing and settlement, no guarantee for a specific time


INSTANT PAYMENTS B2B• Payments to suppliers

Many local suppliers (DIY stores, retailers etc.)

Requirement for nationwide cash supply of our employees, acceptance of debit (Maestro) or credit cards is very low in Germany

Maestro-cards are not an option due to missing limit management and sole availment authorization

Rental payments for our clients often should be credited to the landlord’s account by 12 pm

No timed payments


INSTANT PAYMENTS B2B

• Payments to power utilities

As a real-estate-service-provider we often receive notices of power supply disconnection due to late payment

Immediate payment transfer via CCU (urgent payment)

Print out of the complete transaction protocol

Dispatching the protocol via fax or email to the power utility company to avoid supply disconnection



• Payments to tax authority

Taxes must be credited on the tax authority’s account at a fixed date

If there is a delay of payment, an extra charge for late payment at a value of 1 % of the pending amount per month will be added

Today: urgent payment (CCU) or

Entitling the tax authority to debit the bank account via direct debit

− Nasty surprises about the specific date of direct debit

− Too early or too late

− No pre-notification by the tax authority

− Not possible in all countries



• Payments to social insurance/social security

Social security contributions must be credited to the account by the third working day to the last day of the month

Local holidays must be taken into account

No retrospective value date for social security

SEPA-rules only for private customers: value date = payment + 1 daySocial security: value date = payment date + 2 or 3 days

If there is a delay of payment, an extra charge for late payment at a value of 1 % of the pending amount per month will be added

Today: payments by the fifth working day to the last day of the month


BENEFITS OF INSTANT PAYMENTS B2P AND B2B

• Real-time payment (max 10 s)• Guaranteed execution at the fixed date and time • Time of crediting the payment to the beneficiary’s account is controllable• Finality of payment • Confirmation of (un)successful payment • Cash receipt is immediately available for the beneficiary • Availability of systems: 24/7/365• No local holidays for bank transfers anymore throughout Europe


INSTANT PAYMENTS DISADVANTAGES AND ABSOLUTE NO-GOES

• Lack of reachability of beneficiary banks, scheme is only optional (no-go)• Limit of € 15,000 at beneficiary bank (Closed-User-Group of some banks

enables payments without limit Nov. 2018) (no-go)• Assignment as individual transaction, delivery of bulk-data-files not yet

possible (no-go)• Delivery of bulk-data requires payment date and payment time • Missing possibility of recalls• Proposal: minimum 30 minutes between delivery and execution, time for

recalls


INSTANT PAYMENTS DISADVANTAGES AND ABSOLUTE NO-GOES

• Missing order type for delivery of bulk-data via EBICS (planned: CIP from Nov 2018)

• Notifications of cash received?• MT942/camt.052• MT???/camt.054• Bulk or one by one?

• In other countries (e.g. Netherlands from 2019) Instant Payments are expected to replace “normal” SEPA-payments CCT (without any limit)

• How will this payment be credited to the beneficiary’s account, if the beneficiary bank doesn’t accept instant payments and/or the payment is limited to € 15,000?

Thank you for your attention.


Pascal SpittlerBusiness Developer, Business Navigation and FinanceIkea Group

HOW CUSTOMER BEHAVIOUR AND REGULATION SHAPE IKEA’S PAYMENTS STRATEGY

FRANKFURT, APRIL 2018

THE IKEA VISION

TO CREATE A BETTER EVERYDAY LIFE FOR THE MANY PEOPLE.

Our business idea is to offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.

Credit33%Cash

15%

Others6%

+12.1 Billion € Card TO increase FY09 - FY16 (96%)

Payments at IKEA GroupMajority of IKEA TO growth 09-17 was paid with a card

+12.5 Billion € TO increase FY09 - FY16

185 M€Total Card Acceptance Cost FY16

Debit32 M€

Credit153 M€

Debit46%

Payment methodsShare of TO

FY14: 26%

FY16*: 40%

Contactless PaymentsShare of number of transactions IKEA Food

FY15: 35%

© Inter IKEA System

s B.V. 2017

Recent Development IKEA Payment Means (TO) FY17

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

AT AU BE CA CH CN CZ DE DK ES FI FR GB HR HU IE IT JP KR NL NO PL PT RO RU RS SE SK US

Debit Credit Credit CB Cash B2B cust.fin. others


s B.V. 2017

Recent Development IKEA Payment Transactions FY17

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

AT AU BE CA CH CN CZ DE DK ES FI FR GB HR HU IE IT JP KR NL NO PL PT RO RU RS SE SK US

Debit Credit Cash B2B cust.fin. others


s B.V. 2017

Recent DevelopmentShare of contactless MC transactions – IKEA Food

75%

87%

92%

1%

58%

77%

64%

74%

82%

46%

65%

76%

5%

7%

33%

0%

21%

35%

1%

9%

27%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2014 2015 2016

CZECH REPUBLIC RUSSIAN FEDERATION POLAND HUNGARY SPAIN ROMANIA IRELAND


s B.V. 2017

Recent Development Card, Contactless & Cash Development CZ

25.00%

30.00%

35.00%

40.00%

45.00%

50.00%

55.00%

60.00%

65.00%

70.00%

FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17

Cards Cash

Zoom out today instant payments

8th Nov. 2016 India demonetisation of cash

Real time payments in Europe

SEPA instant credit transfer is launched and soon P2P interoperable solutions

Demand for mobile payments is driving P2P real-time payments, which in turn are leading to consumer-to-business real-time payments

2

1

Customer appetite

Many people like to make payments directly from their accounts so as to better manage their budget

Get better price if rails payment to transfers as lower merchant fees applies

2

1


s B.V. 2017

EU LEGISLATIONIMPACT FOR MERCHANTS

PSD II

Payment initiation services through dedicated APIs and fallback customer facing apps

Regulatory Technical Standard (RTS) on Strong Customer Authentication (SCA)

2

1

Berlin Group

Open Banking UK

PSD2 Polish API

Slovak Banking

API standard

STET PSD2 API

PISP : Payment initiation service

OK OK OK OK OK

PISP : Payment initiation report

OK OK OK OK OK

PIISP : Balance inquiry

OK OK OK OK OK

Five API standards

65

Are bank specific implementations driving to national fragmentation?


s B.V. 2017

PAYMENTS AT IKEAWHERE WE WANT TO GO

We are on a Journey WORLD'S LEADING MULTICHANNEL

HOMEFURNISHING RETAILER

• IKEA in the hearts & minds of the many people• A great customer

experience• 100 billion

euro plan

WE ARE HERE

2030

MULTICHANNEL RETAILER

CASH &CARRY

RETAILERMAILORDER

RETAILER

Interdependencies

Receive & Pay on behalfMinimise payment flows Smarter use of available funds.

Transaction Volume Consolidation

Contract consolidation

Direct connectImproved stabilityDecline reductionData visibility

Full secured processing

SimplificationStandardisationEasy to maintain and change

Why do we consolidate acquiring activities now?• Increase IKEAs volumes towards less acquirers

(Tender for Europe almost finalised)

• No more territorial restrictions on acquiring licenses within the EEA

• Prerequisite for a fully automated in-bound payment process (flow, booking & reconciliation)

• ‘Direct connect’ with the schemes (increase security, decrease technical declines)

• From 60 different reconciliation protocols 3-5

• Significant productivity increase

• Ease implementation new payment means

IKEA view on Instant payments

Payer PSP Payee PSP

Payer PayeeTran

saction

initiation

and

n

otification

PISP

Response, other

services

Payment initiation, customer(s) interaction

PSPs interaction

Payment Initiation Service

APIs

PSD2APIs

Instant payments potential

• Consumer are accommodate with mobile payments

• Certainty of payments

• Common European wide standards

• Defined scheme rules

Instant payments challenge

• Common customer journey online and offline

• Interaction at Point of Sale• Fast and secure authentication Payment initiation at Point of Sales

• Common implementation of Pan-European API standards

In-store instant payment initiation service requirements

• Coexistence of pay by card and pay by bank

• Convenient and seamless user experience

• Common implementation, SLAs and maintenance of APIs

• Reachability of SCT inst.


s B.V. 2017

THANK YOU


COFFEE BREAK AND NETWORKING


ZOOMING IN ON MERCHANTSPart 2


Lars TebrueggeConsultant to EPSMEuropean Association of Payment Service Providers for Merchants – EPSM e.V

Instant PaymentsZooming in on Merchants

www.epsm.eu

Open Forumon Pan-European Instant Payments

17 April 2018Frankfurt, Germany

Lars TebrüggeConsultant to EPSM

www.epsm.eu

Agenda

79

1. EPSM Profile2. Participation to SEPA Inst3. Results4. Summary

European Footprint of EPSM

1. EPSM Profile

80

Who are the European Payment Service Providers for Merchants?

PSPsAcquirersNetwork ProvidersProcessorsSchemesManufacturersOthers*

68 EPSM members with headquarters in 16 European countries:(AT, BE, CH, CY, CZ, DE, FR, GR, HU, IE, IT, LU, LV, NL, SE, UK)

* such as: associations, e-payments, fin-tech, e-bill provider,gateway, solution provider

www.epsm.eu 80

1. EPSM Profile

Mission:A non-profit trade association for cost-effective interest representation and generalinformation exchange on issues relevant to payment providers for merchants in Europe.

Mission and Main Activities

Main Activities:- 3 regular meetings per year- Information exchange by e-mail- EPSM Market Newsletter- Participation in PCI and PSMEG- Partnerships with other organisations

and conference organisers- …

www.epsm.eu 81

2. Participation to SEPA Inst

• A short survey was send out to all EPSM members.• The feedback rate of slightly above 10% was rather small. • Members of the following categories provided feedback:

– Payment Service Providers– Acquirers – Schemes – Network Providers– Solution Providers.

www.epsm.eu 82

3. Results

How detailed is your knowledge on SEPA Inst at present?

highmediumlow

www.epsm.eu 83

3. Results

How interested is your company in providing services related to SEPA Inst?

highmediumlow

www.epsm.eu 84

3. Results

How would you estimate the market relevance of SEPA Inst in 5 years?

highmediumlow

www.epsm.eu 85

3. Results

What is missing in SEPA Inst to become a success? (1)- PSP access point.- Wider participation of all banks in Europe.- Clarification of costs of SEPA Inst for PSP.- The possibility to be broadly adopted, quickly.- Better middleware and integration with other schemes such XS2A and

AML/KYC products. - De-risking a transaction becomes more critical when the speed of

transfer execution becomes faster.

www.epsm.eu 86

3. Results

What is missing in SEPA Inst to become a success? (2)- A guidance paper on applicability of KYC processes required of AISP and

PISP providers. How much can we rely on the Bank’s KYC efforts vs that of a PISP?

- Banks are challenged to provide secure connections that comply with SCA while some are using SCA as a mechanism to block the free access to payments. The crux is the point where liability shifts from the bank to the PISP in the case of exemptions from SCA. Recurring payments for instance and low value payments, need a method, within the scheme, to gain protection from liability.

www.epsm.eu 87

3. Results

Are there changes to the set-up of SEPA Inst you would like to suggest? - Too early for changes. PSPs need to see participation of all banks in

Europe and get an understanding of the costs of SEPA Inst. - Use cases and business cases are missing up to now.- Not knowledgeable enough to comment.- The time limits for approvals should be driven down to levels below

those seen in the debit card market. These payments are processed on the back-end by the same back office core banking systems while the front-end is conceivably built with newer and faster technology.

www.epsm.eu 88

3. Results

With the information available to you at present, do you see a business case for you offering SEPA Inst (yes/no and why)? (1)- Yes. Speed of payment to merchant/acquirer increases satisfaction.- Yes, the faster transactions can be executed with sufficient coverage

from a compliance perspective can only enhance the speed of commerce and settlements fostering economic development. When payments are secure, fast and not reversible in such a large window of time (as in the case of SEPA DD) it will quickly become a preferred payment method for merchants integrating into their accounting functions while removing an additional layer of third parties which can introduce a risk component.

www.epsm.eu 89

3. Results

With the information available to you at present, do you see a business case for you offering SEPA Inst (yes/no and why)? (2)- Unknown, because of reliance on local initiatives using SEPA Inst.- Unknown, more information need to be shared on that topic. Still at the

very beginning.- No. Without the knowledge of costs and participation of all banks, no

business case can be calculated.

www.epsm.eu 90

4. Summary

- The rather low response rate suggests that the knowledge about SEPA Inst is still expandable.

- Generally, SEPA Inst seems to be attractive for merchants and PSPs.- It is still unclear, how the role of a PSP could look like and how a PSP,

which is managing the payments for the merchants at present, could get access to the system.

- Uncertainty remains if all European banks will offer SEPA Inst.

www.epsm.eu 91

Thank you very much for your attention!

Lars TebrüggeConsultant to [email protected]+49 (0) 177 65 60 918

www.epsm.eu 92


Ercan KilicAbteilungsleiter Mobile Commerce & FinanceGS1

” … and now, where is the demand side?”

OPEN FORUM on Pan-European Instant Payments Euro Banking Association

Ercan Kilic, Leiter Mobile Commerce & Financial Services GS1 Germany GmbH

17th April 2018 in Frankfurt am Main

© GS1 Germany 2015

Agenda

• GS1 Germany

• Mobile Instant Payment Survey / Infografic

• Standardisation and the HIPPOS-Approach

2

© GS1 Germany 2015

The key to the digital world

3

• The GS1 barcode can be found on nearly every retail product.

• 5 billion product identification scans are performed each day around the world.

• The barcode is one example of how GS1 standards and solutions are paving the way to the digital, globalised world.

Everyone is familiar with it.

© GS1 Germany 2015

GS1 Germany…

Neutral platform for collaboration and realising visions

4

• … develops solutions and standards for the challenges of today and tomorrow; for

example, for traceability, transparency in the food sector, patient safety and e-

commerce.

• … is the driving force behind the development and implementation of globally

applicable autoID, communication and process standards.

• … plays the pivotal role in the interaction between all participants in the supply

chain.

• … is the catalyst for developing future fields of application.

• … is a neutral platform for facilitating collaboration and knowledge sharing.

© GS1 Germany 2015

Facts & figures

5

• Private-sector, not-for-profit company based in Cologne, Germany

• 1974: Founded as the "Centrale for Coorganisation" (CCG)

• 2005: Renamed GS1 Germany

• Managing Director: Thomas Fell

• Over 53,000 customers in 2016

• Over 180 employees, over 400 including ownership interests and subsidiaries

• Partner: EHI Retail Institute and the German Brands Association (Markenverband)

• Core product: The barcode and other globally applicable identification, communication and process standards

© GS1 Germany 2015

Local meets global

International Networking

6

© GS1 Germany 2015

International, non-overlapping and industry-independent

The Global GS1 Network

7

• 150 out of more than 190 countries around the world use GS1 standards

• over 1 million companies in theGS1 system

• 112 member organisations (MO)

• GS1 Germany is the second-largest MO

• Global Office based in: Brussels

• International networking:GS1 in Europe, Consumer Goods Forum, Global Standards Management Process

© GS1 Germany 2015

”SEPA Instant Payment Activities”

© GS1 Germany 2015

Design of the SEPA IP survey & infografic

9

Survey period July 25th – August 21st 2017

Feedback:

• Retail (POS) 45

• Service-Provider (SP) 22

• Bank (BK) 10

• Deutsche Kreditwirtschaft (DK) 4

• Creditcard organisation (n/a) 3

• MNO (Mobile Network Operator) (n/a) 3

Survey is divided into three parts

• Cash

• Mobile marketing

• Mobile payment / SEPA Instant Payments

© GS1 Germany 2015

How familiar are you with SEPA Instant Payments?

10

Merchants areexperts when itcomes to SEPA Instant Payments

97%

33%

75%

30%

64%

3%

67%

25%

70%

36%

0% 20% 40% 60% 80% 100%

HL-

POS

KO

DK

BK

DL

I have a few experiences on that issue and can answer some question

I have no experience on SEPA Instant Payments

© GS1 Germany 2015

Where do you see the potential of SEPA Instant Payments

11

E-Commerce / P2P / POS is giving thehighest potential

POS SP BK DK Total

Omnichannel/E-Commerce 77% 64% 67% 100% 75%

P2P Payment (Person 2 Person) 85% 64% 33% 67% 75%

stationary POS 87% 36% 33% 33% 70%

Public transport 65% 36% 33% 33% 55%

Ticketing/entrance 58% 36% 0% 33% 50%

Parking 65% 29% 0% 33% 50%

B2B Payment 46% 43% 33% 67% 45%

Messenger/Chat Payment 54% 36% 0% 33% 45%

Digital content (videostreaming / gaming) 54% 29% 0% 33% 45%

Vending machines 46% 29% 0% 33% 40%

Spontaneuous insurances 39% 43% 33% 67% 40%

IoT Payment (Internet of Things) 27% 21% 0% 0% 25%

additional 4% 0% 0% 0% 3%

© GS1 Germany 2015

Which of the established payment-schemes could besubstituted by SEPA Instant Payments?

12

POS SP BK DK

Direct Debit 1,5 1,9 2,7 1,7

Credit Cards 2,2 2,4 2,0 2,3

Girocard 2,5 2,1 2,7 3,0

Cash 2,3 2,6 3,0 2,7

Legende

1 Will be superseded by SEPA IP

2 Will be tantamount to SEPA IP

3 More important then SEPA IP

Direct debit / EC Lastschrift will besubstituted mainlyby SEPA IP

© GS1 Germany 2015

Which of the established payment-schemes in E-Commerce can be substitueted by SEPA IP

13

Legende

1 Will be superseded by SEPA IP

2 Will be tantamount to SEPA IP

3 More important then SEPA IP

HL-POS DL BK DK

Pay in advance 1,3 1,5 1,7 1,0

Cash on delivery 2,2 2,0 1,0 1,3

Pay by pick-up 2,2 2,1 1,3 2,3

Different online payment solutions 2,2 2,1 2,0 1,7

Direct-Debit 1,4 1,9 2,7 2,0

Pay by invoice 2,5 2,6 2,3 2,0

Installment 2,6 2,4 2,3 2,3

Creditcard 2,5 2,4 2,3 2,3

No suprise: pay in advance, because SEPA IP will accelerate the deliveryprocesses. Cash on delivery, becausenormaly is paid by cash!

© GS1 Germany 2015

Which expectations do you have concerning theimplementation of SEPA IP at POS?

14

POS SP BK DK Total

Less number of chargebacks (direct debit) 91% 79% 67% 67% 85%

Costs decreasing (fees, interchange) 91% 43% 67% 33% 75%

More interaction in self developed mobile-app 83% 36% 100% 33% 70%

More efficient completion of payment transactions (backoffice) 78% 50% 100% 33% 70%

New customer communication, because of mobile device is part of thepayment transaction

70% 50% 67% 33% 65%

Costreductions because of reduced fraud 74% 43% 100% 33% 65%

Costreduction because of provider reducement 74% 21% 67% 67% 60%

More possibilities for additional services (couponing, loyalty, etc.) 52% 64% 100% 33% 55%

Less Cash-Handling 52% 79% 67% 0% 55%

Increasing system-costs (cash-register, card-terminal, Datatransfer etc.) 65% 36% 33% 33% 55%

Reducing errors during cutover 70% 29% 33% 0% 55%

Costreduction because of reduced effort in the whole payment process(own backoffice)

65% 29% 33% 0% 50%

Faster payment process at Point of Sale 44% 21% 33% 0% 35%

Less requirements to securiry 44% 21% 0% 33% 35%

Additional 13% 7% 0% 33% 10%

More turnover per purchase 4% 14% 0% 0% 5%

More customers / more purchases 0% 7% 0% 0% 5%

Cost

Cost

Cost

CostCost

CostCostCost

Cost

© GS1 Germany 2015

In which industry sectors SEPA Instant Payments should befocussed in?

15

POS SP BK DK Total

Food retail 86% 50% 67% 0% 70%

Textile 77% 29% 67% 0% 65%

Do-it-yourself (DIY) 82% 29% 67% 0% 65%

Consumer Electronics 68% 36% 100% 67% 60%

B2C / Craft with lower amounts less then 100€ (z.B. hair-stylist, flowers)

86% 36% 0% 33% 60%

Drugstore 86% 21% 67% 0% 60%

Patrol-stations 82% 29% 33% 0% 60%

Restaurants, Fast Food, Coffee Shops 82% 29% 0% 0% 60%

B2C / Craft with higher amounts more then 100€ -1.000€ ( juwelery, craftsman)

64% 36% 33% 67% 55%

Furniture 59% 29% 33% 67% 50%

Bakery 59% 29% 0% 0% 45%

Kiosk 59% 21% 0% 0% 45%

Additional 14% 7% 0% 0% 11%

No statement can be made 0% 7% 0% 33% 3%

No sector relevant 0% 7% 0% 0% 2%

Surprise „Deutsche Kreditwirtschaft“

© GS1 Germany 2015

”SEPA Instant Activities”

© GS1 Germany 2015

Card based payments a real succes story

17

Retailers don`t have anyPayment issues today

Focus on digitizingexisting processes

Retailers don`t want tochange consumerbehavior (cash vs. non-cash payments)

© GS1 Germany 2015

SEPA Instant Payment Aktivitäten GS1 Germany

18

SEPA Instant Payment am POS

1

“HIPPOS“

2

SEPA Instant Payment Pilot

3

QI. QII. QIII. QIV.

QI. QII. QIII. QIV.

QI. QII. QIII. QIV.

QI.

QI.

QI.

2019

2019

2019

MIPS HIPPOS

Pilot

© GS1 Germany 2015

SEPA Instant Payment at physical POS Standardisation efforts

19

Berlin Group EPC

payer-bank payee-bank

Berlin Group (EBICS / HBCI)

1 2

3

payer payer

© GS1 Germany 2015

POS Scenario - different types of interactiondifferent transmission technologies and protocols

20

NFC

QR Code

Banks

P2P

Retail

PISP

© GS1 Germany 2015

”HIPPOS”

© GS1 Germany 2015

Onboarding processes (requirements for participation)

22

Payment-Network-Provider

Wallet-Provider

PSP

Top-Retailer

Commercial registerextract

Ultimate beneficialowner

IBAN

Sendingdocuments

Check/approvalby GS1

Issuing Licensenumber+ IBAN-ID and transferring into DB

Lizenz-Server

(Lizenzno./ IBAN-ID/

IBAN)

Notification License-Number

participants

Banks

Tbd.

ZNB

Wallet-Betreiber

PSP

Top-Retailer

Participants

Banken

Tbd.

Decentral Referencelist(Lizenzno / IBAN-ID /

IBAN)

Each Participant isrunning his ownreference-list

Regular transfer of all IBANs / IBAN-ID / Licensenumbers all registered participants

Dezentrale Referenzliste(Lizenznr / IBAN-ID /

IBAN)


IBAN)


IBAN)


IBAN)


IBAN)

Payment-Network-Provider

Wallet-Provider

PSP

Top-Retailer

Banks

Tbd.


IBAN)


IBAN)


IBAN)


IBAN)


IBAN)

© GS1 Germany 2015

Transaction flow POS

23

LicenseserverGS1

via QR / NFC transmissionamount / licensenumber / IBAN-ID / E2E-ID

Transferring E2E-ID / waiting forpayment confirmation

2

decentralreference-list app-provider contains

Licensenumber / IBAN-ID / IBAN /

payee-name

Detection IBAN fromreference-list via License-number / IBAN-ID / payee-name

3

Transferring payeer-IBAN / amount / E2E-ID to bank4

6

regulardownload

PSP / Retailer


5

interbanking clearing / settlement

7„payment made“ to

POS via E2E-ID

transferringE2E-ID / Amount

© GS1 Germany 2015

Transaction flow P2P

24

licenseserveradminstratestemporaryIBAN for

transaction

2

3

P2P-labeled request / licensenumber / P2P-Label at server

4

bank-interface payee (PSP /

payment processor)

5 transferring IBAN

shortcode

DE12345*

shortcode

DE12345*

„verbal“ transferring and confirmationshort-code by visual check 6

*short code = first four, last three digits IBAN

payeepayer

Transferring P2P-Label / IBAN / Lizcensenumber


7 interbanking Clearing / Settlement E2E-ID

8 9

App-Server payer

App-Server payee

Transferring payeer-IBAN / amount / E2E-ID to bank

via QR / NFC transmissionamount / licensenumber / E2E-ID / P2P-Label

„payment made“ toapp-server via E2E-ID


© GS1 Germany 2015

E-Commerce

25



5

7

PSP / merchant


6

interbanking clearing / settlement

8

„payment made“ toPSP via E2E-ID

Detection IBAN fromreference-list via License-number / IBAN-ID / payee-name

4

Payer decides forHIPPOS byshopping at a web-shop

Delivery / Generating QR-Code

2

3

Scan at delivery

9 „payment made“ toshipper / handover

decentralreference-list app-provider contains

Licensenumber / IBAN-ID / IBAN /

payee-name

2

transferringE2E-ID / Amount

© GS1 Germany 2015

Definition

26

Licensenumber Issuing of an uniqe number per participant. Each participant is identified by GS1 and agrees by that into the terms and conditions of „HIPPOS“

IBAN-ID One Licensenumber could referred to n-IBANs. To each IBAN a unique IBAN-ID is issued. IBAN and IBAN-ID is stored at the Licenseserver.

Server on which Licensenumber / IBAN-IDs are stored. Decentral based Databases are downloading the informations from Licenseserver byregulary intervals.

Licenseserver

ParticipantAccept rules and reglations of „HIPPPS“-Scheme and have to legitimize themselve in advance. Without an approved legitimation noLicensenumber can be issued.

P2P-Label To each licensenumber n-P2P-Lables can be issued. Das P2P-Label references to an IBAN, which is stored on the Licenseserver temporarly.

Short-Code First 4, last three digits of IBAN. Die payee-App / payer-App are showing this code. Code has to be confirmed by payer.

Following terms applicable at P2P-transactions

E2E-IDReference-ID which is unique for each transaction. E2E-Id is an identifier described by SEPA-Regulations and is shown at any point during thetransaction flow.

Referencelist List stored at App-Provider (decentral stored informations received from licenseserver)

© GS1 Germany 2015

P2P - der Weg zu Mobile Payment in Deutschland?

SEPA Instant Payment AG-Sitzung - Köln, 14.02.2018

Ercan Kilic Leiter Mobile Commerce & Financial Services GS1 Germany

14.02.2018

© GS1 Germany 2015

P2P Payment - Person to Person Payment

28

https://www.youtube.com/watch?v=_2h-iBfBSVk

© GS1 Germany 2015

Interoperability is key for adoption Mobile & Instant Payments

29

Denmark

© GS1 Germany 2015

Interoperability is key for adoption Mobile & Instant Payments

30

Denmark

With MobilePay, sending money

is just as easy as sending a text message

© GS1 Germany 2015

Swish - success story from Schweden

31

Sweden

© GS1 Germany 2015

P2P – the key challenge: Interoperability

© GS1 Germany 2015

P2P – Scenario in Germany

33

Consumers are ready to use P2P solutions and services

Fragmentation of P2P reach

Lack of interoperability between P2P solutions and networks

“Unified or connected P2P-reach“ as a key indicator for market readiness MP

Connecting all P2P solutions to one P2P-Reach / Network will accelerate theusage of Mobile Payments -transactions will increase rapidly

© GS1 Germany 2015

Interoperability drives InstPay (MoPay) adoption

34

P2P

POS

E-Commerce

© GS1 Germany 2015

Current market situation

35

Insufficent interoperability betweenexisting mobile payment-Apps

Limited Use-Cases (P2P or money-transfer)

Chicken-Egg Situation caused an insufficent number of users andacceptance

© GS1 Germany 2015

SEPA Instant Payment Initiative GS1 Germany

36

P2P

POS

E-Commerce

Plus SEPA Instant

Payments

Initiative brings all relevant stakeholders together

Creating an independent, open solution without any barriers

Solving the chicken-egg problem

Over 10 working-group meetingssince 2017

Over 100 participants on average

© GS1 Germany 2015

PSD2 - Banks will face serious challenges

37

© GS1 Germany 2015

”Mobile Instant Payment Summit”MIPS

Ercan Kilic, Leiter Mobile Commerce & Financial Services GS1 Germany GmbH

May 29th, 2018 / Cologne

© GS1 Germany 2015

MCC -Mobile Commerce Community

39

© GS1 Germany 2015

Goal

MIPS Event – Overview

40

• GS1 Germany likes to invite proven APP-Provider to present their solution

• Opportunity for all participants to find a best suitable partner

Costs • Membership of Mobile Commerce Community is required*

Benefits for exhibitors• Booth, including chair, table, space for roll-up

• Two participants

• 20 minute presentation at the congress area

Limitation • Number of exhibitors is limited to 10

* Please note attachement „MCC“

Target group• Participants of the event are banks, retailers, PSPs, terminal suppliers etc.

© GS1 Germany 2015

MIPS Event – Key Facts

41

20 Minute presentation App-

Provider (each)

Panel-Discussion with Banks,

Retailer, Service-Provider,

POS-Provider, Terminal

supplier etc.

Networking

300sqm exhibition area

300sqm conference area

Maximum 10 exhibitors

May 29th, 2018GS1 Knowledge CenterCologne, Germany

© GS1 Germany 2015

MIPS – Mobile Instant Payment Summit

42

29.05.2018 at GS1 Germany in Cologne

Conference Programm from09:30 – 18:00

Elevator Pitch (15 Minutes)

Panel-Discussions with Banks & Retailers

10 Partners will present theirSEPA IP Solution & Strategiesat their Booth

© GS1 Germany 2015

Contact

43

Ercan Kilic

+49 (0)221 94714 218

www.gs1-germany.de

[email protected]

GS1 Germany GmbH

Maarweg 133

50825 Cologne

+49 (0)221 94714 7218

+49 (0)171 561 4484

T

F

M

E

Leiter Mobile Commerce & Financial Services

© GS1 Germany 2015

Transaction flow P2P

44

licenseserveradminstratestemporaryIBAN for

transaction

2

3

P2P-labeled request / licensenumber / P2P-Label at server

4

bank-interface payee (PSP /

payment processor)

5 transferring IBAN

shortcode

DE12345*

shortcode

DE12345*

„verbal“ transferring and confirmationshort-code by visual check 6

*short code = first four, last three digits IBAN

payeepayer

Transferring P2P-Label / IBAN / Lizcensenumber


7 interbanking Clearing / Settlement E2E-ID

8 9

App-Server payer

App-Server payee


via QR / NFC transmissionamount / licensenumber / E2E-ID / P2P-Label

„payment made“ toapp-server via E2E-ID



PANEL DISCUSSION: “…AND NOW WHERE IS THE DEMAND SIDE?”

Moderator: Hansjörg Nymphius, Advisor to the Board, Euro Banking Association

Panellists: Boris Jendruschewitz, Lars Tebruegge, Pascal Splitter, Ercan Kilic and Norbert Hambloch


QUESTIONS & ANSWERS


CLOSING REMARKS

Hansjörg NymphiusAdvisor to the BoardEuro Banking Association

Open Forum on Pan-European Instant Payments, 17 April 2018

For any comments or questions, please contact us at

[email protected]

mailto:[email protected]

EBA InformationsveranstaltungWien, 8. Mai 2018CUG

Page 1

The forum is an open group, where interested stakeholders can discuss and exchange information on industry-wide topics.

The content of the slides presented and the views expressed in the context of the activities of the forum are those of the respective participants in the forum, and do not represent the views of the Euro Banking Association (EBA).

Documents

Open Forum on Pan-European Instant Payments · 2018-09-26 · EBA Open Forum on pan- European Instant Payments April 17 th, 2018 The Otto Group is one of the world’s largest online