Payments in Europe

歐洲境內(nèi)的支付

Leveling the paying field

規(guī)范支付行業(yè)

New European payments regulation has the potential to shake up2 the banks

歐洲新出爐了支付規(guī)則 有望讓各行發(fā)生巨變

IN BRITAIN alone millions of people make formal complaints each year about their banks. For them, Sebastian Siemi at kowski, founder of Klarna, a Swedish payments startup, brings good news. New European rules, he says, will open the door to a host of innovative services that analyse transactions, so “an app could tell you there’s a cheaper mortgage available and start the switching process for you.” Apps could warn account-holders if they spend more than a predetermined amount or are about to become overdrawn, or even nudge them to save more. Customers need barely ever interact with their bank.

每年僅在英國(guó)就有數(shù)百萬人日常性地總會(huì)抱怨當(dāng)?shù)劂y行的服務(wù)。瑞士一家創(chuàng)業(yè)公司勤哗，也是一家支付公司Klarna癞尚，給這批英國(guó)人帶來了好消息。他提到,歐洲這項(xiàng)新規(guī)定,將開放式地接納對(duì)大批量分析交易的改革服務(wù)，所以‘某個(gè)應(yīng)用會(huì)告訴你，即符合一項(xiàng)低利率房貸的資格，從而能為您提供相應(yīng)服務(wù)’顧客都不需要到銀行去辦理業(yè)務(wù)宏浩，因?yàn)殂y行的應(yīng)用能提醒持卡人 ，卡內(nèi)消費(fèi)超過了預(yù)先規(guī)定的數(shù)額靠瞎，或者說該卡即將透支比庄，或者推出信息提醒他們需要存錢了。

To date, despite dire warnings, European retail banking has been remarkably unscathed by technology-driven disruption. Customers stay loyal, and banks still do the most of the lending. Financial-technology (“fintech”) companies are beginning to mount a challenge, most conspicuously in the online-payments industry in northern Europe: So fort, i DEAL and otherfintech firms conduct over half of online transactions in Germany and the Netherlands, for example. But their reach is more limited elsewhere in Europe. Physical payments are still overwhelmingly made with cash or bank cards.

盡管緊急的警告乏盐，時(shí)至今日佳窑，歐洲零售銀行并沒受到科技進(jìn)步帶來的影響「改埽客戶仍保持對(duì)銀行保持支持神凑，而銀行仍舊提供并維持大部分接待的服務(wù)。金融科技公司正擼起袖子法竞，發(fā)動(dòng)這一項(xiàng)挑戰(zhàn)耙厚。這項(xiàng)挑戰(zhàn)，在北歐在線支付業(yè)中凸顯出來岔霸。一些金融科技公司薛躬，例如萊卡So fort, 創(chuàng)而有意i DEAL等，在德國(guó)和芬蘭大半部分業(yè)務(wù)都在線交易呆细。但是他們的業(yè)務(wù)操作對(duì)于歐洲市場(chǎng)來收受到了局限型宝。因?yàn)閷?shí)物支付仍舊大力支持現(xiàn)金或者銀行卡。

One reason incumbents have proved so resilient is that fintech firms lack the customer- transaction information they need to provide many financial services. Banks can be slow to respond to requests for access to such data, or may block them altogether for security reasons. It is often either cumbersome or insecure for customers to share their own information. Banks, on the other hand, have easy access to transaction data, which they can use to sell their customers other services.

現(xiàn)任負(fù)責(zé)人也擺出了不能迅速適應(yīng)的一個(gè)原因絮爷。金融科技公司手上急缺他們所需的客戶交易信息趴酣。而這個(gè)交易信息有需要他們提供許多的金融服務(wù)才能獲得。銀行并會(huì)隨便地提供這些數(shù)據(jù)坑夯，或者說處于安全原因封鎖數(shù)據(jù)岖寞。之所以，不會(huì)輕易地分享客戶信息柜蜈，是因?yàn)楣ぷ髁糠爆嵳套唬掖嬖诎踩[患。換句話說淑履，銀行倒是容易拿到交易數(shù)據(jù)隶垮，這樣他們就能加以利用數(shù)據(jù)，賣給客戶其他服務(wù)秘噪。

Regulators, however, are about to transform the landscape. The Payments Services Directive 2 (PSD2), due to be implemented by EU members in January 2018, aims to kick-start competition while making payments more secure. Provided the customer has given explicit consent, banks will be forced to share customer-account information with licensed financial-services providers.This should change the way payment services work. They could become more integrated into the internet-browsing experience—enabling, for example, one-click bank transfers, at least for low-value payments. Security for payments above €30 ($32) will be tightened up, with customers having to provide two pieces of secret information (“strong authentication”) to wave through a transaction.

可是狸吞，銀行監(jiān)管部門將著手扭轉(zhuǎn)局面。2018年1月歐盟將頒布的支付服務(wù)指令指煎。這項(xiàng)指令旨在在支付更安全情況下蹋偏，快速啟動(dòng)支付手段的競(jìng)爭(zhēng)。在客戶明確同意的情況下贯要，銀行終將會(huì)跟獲有金融服務(wù)許可的供應(yīng)商分享客戶信息暖侨。這種方法，應(yīng)該會(huì)改變支付操作方式崇渗。銀行能更能集中地提供服務(wù)字逗，例如上網(wǎng)可見，又能操作的一鍵銀行轉(zhuǎn)賬宅广，至少針對(duì)了小額支付的情況葫掉。30歐元以上的支付安全升級(jí)，即客戶需要提供兩種安全驗(yàn)證（強(qiáng)有力的認(rèn)證）確保交易跟狱。

With access to account data, meanwhile, fintech firms could offer customers budgeting advice, or guide them towards higher-interest savings accounts or cheaper mortgages. Those with limited credit histories may find it easier to borrow, too,since richer transaction data should mean more sophisticated credit checks.

同時(shí)俭厚，金融公司能根據(jù)賬目數(shù)據(jù)，給客戶提供借貸咨詢驶臊，或者提供高利息存錢方案或者低利率房貸方法挪挤。即便那些信用記錄較低的用戶叼丑，也能輕松借錢，因?yàn)辇嫶蟮慕灰讛?shù)據(jù)要進(jìn)行更加復(fù)雜的信用認(rèn)可的確認(rèn)扛门。

None of this is good news for established banks. Profitability is already threatened by rock-bottom interest rates. According to Deloitte, a consultancy, banks’ lockhold on payments serves as a hand source of income, earning European banks €128bn in 2015, around a quarter of retail banking revenue. Many see PSD2 as a threat to their business models; they fear becoming the “dumb pipes” of the financial system. Ina survey conducted last year by Strategy&, a unit of PwC, a professional services firm, 68% of responding banks believed that PDS2 would leave them in a weaker position. The same proportion feared that they would lose control of interactions with customers.

然而鸠信，這些好消息到了老牌銀行那里卻算不上好。利潤(rùn)已受到了超低利率的威脅论寨。根據(jù)一家咨詢公司Deloitte的說法星立，銀行利用數(shù)據(jù)庫(kù)的共享鎖支付服務(wù)，給銀行帶來了收入葬凳。2015年這項(xiàng)服務(wù)給歐洲銀行掙了1280億歐元绰垂，相當(dāng)于零售銀行營(yíng)業(yè)額的四分之一。許多人把PSD2當(dāng)做威脅銀行業(yè)務(wù)模式的一種威脅火焰。他們擔(dān)心金融系統(tǒng)會(huì)變成‘笨水管’商業(yè)模式劲装。去年一家專業(yè)服務(wù)公司-Strategy&, 也是普華永道咨詢公司旗下某個(gè)單位。他們調(diào)查出來68%銀行回復(fù)的內(nèi)容是荐健，PDS2條款會(huì)讓他們陷入到不利的境地酱畅。同樣比例的回復(fù)也提到他們不能管控客戶間的往來而感到恐慌。

Dumb pipes

對(duì)一家移動(dòng)通信業(yè)者來說江场，笨水管（dumb pipe）纺酸，或笨網(wǎng)絡(luò)(dumb network）一詞指一家業(yè)者的網(wǎng)絡(luò)只用于在用戶的設(shè)備與互聯(lián)網(wǎng)之間傳輸比特≈贩瘢“笨”這個(gè)字的意思是指業(yè)者無法限制服務(wù)及應(yīng)用通過其門戶餐蔬，而主要只會(huì)提供簡(jiǎn)單的帶寬與連接速率。

移動(dòng)通信業(yè)者常見的商業(yè)模型有笨水管佑附、智能水管及圍墻內(nèi)的花園3種樊诺。

Perhaps predictably, resistance is manifested as a concern about data protection: more than half of respondents to the PwC survey voiced concerns about security and liability. Such concerns are legitimate but also, argue fintech supporters, offer a convenient excuse for banks to block competition. Newcomers will be regulated, after all, and will have to convince the authorities that their data-protection systems are robust. As they are also required to be insured against losses from fraud, they will need to convince insurers, too. They will not be subject to the same capital and stress-testing requirements banks face: but nor will they be licensed to undertake the riskier business of lending.

也許可以預(yù)見的是，很明顯音同，一旦考慮到數(shù)據(jù)保護(hù)問題词爬，銀行就表現(xiàn)出明顯的抵抗。pwc咨詢公司調(diào)查出來权均，超過一半的回復(fù)都表明顿膨，對(duì)這種做法的安全表示擔(dān)心，出了問題誰來承擔(dān)責(zé)任叽赊。這種擔(dān)心同樣也是情理之中恋沃。支持金融科技的人也提到，他們會(huì)給銀行提供一個(gè)恰當(dāng)?shù)挠深^避免碰壁必指。必定后來者需要規(guī)范起來囊咏，因?yàn)橐尡O(jiān)管當(dāng)局相信，他們的數(shù)據(jù)保護(hù)系統(tǒng)是健全的。同時(shí)梅割，當(dāng)他們需要對(duì)被騙后的損失理賠時(shí)霜第，他們也需要要說服保險(xiǎn)公司進(jìn)行賠償。盡管不能得到同等額度的賠償户辞，所以銀行也需要面臨更多的壓力測(cè)試庶诡。然而，即便是在交易許可下咆课，銀行也不會(huì)鋌而走險(xiǎn)地進(jìn)行借貸服務(wù)。

For his part, Klarna’s Mr Siemiat kowski thinks PSD2 is “perfect on paper”. But he worries that, as implementation approaches, the rules will be watered down. Banks could also interpret them subjectively: they might delay sharing data or make them too confusing to be useful. But regulators have already bared their teeth: last year German competition authorities, citing the changes proposed in PSD2, ruled that banks were illegally restricting customers’ online-banking activities.

對(duì)于這部分扯俱，klarna公司的simiat先生認(rèn)為书蚪，PSD2條約是‘紙上談兵，操作困難’迅栅。但是他擔(dān)心殊校，當(dāng)該條約實(shí)施起來時(shí)，這些條條框框的作用將會(huì)縮水读存。本質(zhì)上說为流，銀行也能解釋清楚這些條款∪貌荆可是他們也許延遲數(shù)據(jù)分享敬察，或者使用起來讓人迷惑不解。但是尔当，監(jiān)督部門已經(jīng)亮出了黃牌：去年德國(guó)競(jìng)爭(zhēng)監(jiān)管部門提到了PSD2中的變化內(nèi)容莲祸，即銀行限制客戶網(wǎng)上銀行交易屬于非法行為。

Hot data

熾手可熱的數(shù)據(jù)

Banks will have to improve, in other words. Several incumbents are already adapting to the reality of the fintech challenge through partnerships and purchases. Santander’s British arm, for instance, has teamed up with Kabbage, an American startup, to offer small companies working capital loans; BBVA, a Spanish bank, acquired Holvi, a Finnish startup that helps companies track cash flow and invoices.

換言之椭迎，銀行急需改革锐帜。金融科技公司挑起了合作和采購(gòu)競(jìng)爭(zhēng)，歐洲幾家銀行現(xiàn)已適應(yīng)這種競(jìng)爭(zhēng)環(huán)境畜号。例如缴阎，英國(guó)桑坦德銀行和美國(guó)一家創(chuàng)業(yè)公司kabbage合作，他們專門給小型公司貸款简软。西班牙一家銀行BBVA蛮拔，也收購(gòu)了芬蘭一家?guī)椭咀坊噩F(xiàn)金和發(fā)票的創(chuàng)業(yè)公司。

Yet for all their complaints, customers still trust banks with their money. In Britain only 3% of customers move current accounts each year. Familiarity, huge customer bases and low funding costs are all attributes entrants want to gain by association, just as banks want to exploit newcomers’ technology. PSD2 will improve the services available to European bank customers. Whether via co-operation or confrontation is the question.

盡管客戶有幾句怨言替饿，但是他們?nèi)韵嘈陪y行能保管好自己的財(cái)富语泽。在英國(guó)，每年僅30%客戶會(huì)申請(qǐng)轉(zhuǎn)戶视卢。類似的踱卵，大型客戶數(shù)據(jù)和低廉資本成本，都表現(xiàn)了初入茅廬者希望通過聯(lián)合的方式從中分一杯羹，就像銀行利用新進(jìn)者的技術(shù)一個(gè)道理惋砂。psd2將盡其所能為歐洲銀行客戶們提高服務(wù)質(zhì)量妒挎。不論是通過采取合作的方式，還是通過采取對(duì)立方式西饵，現(xiàn)在來看酝掩，都成問題。