The SPAA scheme will enable ‘premium’ payment services beyond , ensuring harmonisation, interoperability and reachability across Europe. To develop the scheme, the European Payments Council Board established the SPAA Multi-Stakeholder Group (SPAA MSG).
An interview with the co-chairs of the SPAA Multi-Stakeholder Group
Christian Schäfer (Deutsche Bank):
„The SPAA MSG will be responsible for the development of a SPAA scheme. In line with the requirements defined in the June 2021 ERPB Working Group report on a SEPA API Access scheme, the SPAA MSG will operate with the legal and regulatory requirements of PSD2 constituting its ‘baseline’. However, it will also go beyond this baseline to encompass value-added services that may be provided in the context of ‘open banking’ as a natural evolution of PSD2.”
Arturo González Mac Dowell (Tink), about the the expected benefits behind the SPAA scheme:
„First, we anticipate that the SPAA scheme will facilitate the move in Europe towards an ‘open data society’. If implemented the right way, this move can create a wealth of innovation opportunities that feature a whole set of completely new client experiences accompanied by new revenue streams for market actors.
„Second, it is important to note that the SPAA scheme builds on investments made in the context of PSD2. It is in line with European Union (EU) legislation, supported by the relevant EU institutions and developed collaboratively with the retail payment industry (both supply and demand) as represented in the ERPB.
„Third, the SPAA scheme will be ‘complementary’ to existing EPC schemes and as such it could further drive their adoption and use.
„Last but not least, we firmly believe that the SPAA scheme could be a stepping-stone towards ‘open finance’ beyond payments and ‘open data’ beyond finance.”
Christian Schäfer (Deutsche Bank) about what’s next in store for the SPAA MSG:
„The SPAA MSG is currently busy preparing the first draft version of the SPAA scheme rulebook. Our goal is to launch a 90-day public consultation by the end of May 2022 (subject to EPC Board approval) to give the wider market an opportunity to share their views on this first draft version. The final version of the SPAA scheme rulebook’s first release is anticipated to be published on the EPC website by 30 November 2022 (subject to EPC Board approval).
(…) In addition, a few virtual meetings will be organised before key milestones in the development of the SPAA scheme. In fact, a first successful SPAA scheme introduction session already took place on 21 January 2022.
The full interview here
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
