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“SPAA should help create a vibrant Open Banking ecosystem in Europe”

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In an in-depth interview with The Paypers , Gijs Boudewijn and Arturo González Mac Dowell discuss the latest developments in SPAA, the scheme for SEPA Payment Account Access. Boudewijn and González Mac Dowell jointly chair the SPAA Multi-Stakeholder Group (MSG) at the EPC, the European Payments Council . They explain how SPAA and the MSG should contribute to a “vibrant Open Banking ecosystem” in Europe.

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In the interview, Boudewijn and González Mac Dowell also explain that SPAA will provide ‘premium’ services. These go beyond the basic services under PSD2 and do not have to be offered free of charge. Transaction services could, for example, include dynamic recurring payments or payments to multiple counterparties at the same time. This could allow account-to-account payments to compete with other, card-based payment instruments, especially when they are based on instant payments. SPAA’s premium services could, for example, enable an account-to-account equivalent of ‘card-on-file’ payments.

Read the full interview by The Paypers with Gijs Boudewijn and Arturo González Mac Dowell about SPAA…

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