Deutsche Bank and IATA to Develop a New Payments System to Rival Cards

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
15 May 2018
Zilvinas Bareisis

With PSD2 and various instant payments systems emerging around Europe, many believe it’s only a matter of time before cards are seriously challenged as a payment method, particularly for e-commerce transactions. Consumers can pay for goods by authorizing newly regulated Payment Initiation Service Providers (PISPs) to trigger the payment directly from their bank account bypassing the card schemes.

Last week Deutsche Bank and International Air Transport Association (IATA) announced a pilot “to test a disruptive new payment model”, to “collect customer payments directly from consumer accounts”. According to the announcement, “the new payments scheme will offer improved speed, security, and transparency”, and claims to “reduce the estimated USD 8 billion that IATA members currently incur from payment processing costs and fraudulent activity.”


sign in or sign up to read more

Insight details

Insight Format
Geographic Focus