Several Factors Will Influence The Card Acquiring Market In Europe In 2010
"Following the implementation of the PSD in November 2009
, the industry will see the beginning of a real shake out of the acquiring market next year. The new Payment Institutions will begin to offer better choice, flexibility and value to merchants, and the acquiring and processing markets will further consolidate as scale becomes the key driver. 2010 will also see the debate coming to a head on whether a new debit scheme for Europe has any chance of succeeding and which, if any, of the three main candidates will emerge as the front runner."
Chris Davies, COO, HSBC Merchant Services
"As the card business becomes mainstream, and as the different payment methods are converging, merchants & cardholders will have the opportunity of selecting various combinations of payment methods and systems to complete the transaction. Acquirers will have to prepare in the near future to support combinations unseen to date (like authorization and risk control on a card payment system, identification via e-ID, clearing & settlement via direct debit, data exchange via the internet, for example)"
Leon Dhaene, Chairman, n2euro
"With more card transactions being processed than ever before and an increase in criminal targeting of that data - the payments industry needs a solution that will not only protect card information, but render it useless if ever stolen. Applying End to End Encryption in the payments industry could significantly enhance the security of payment card information throughout the processing lifecycle without adding unsustainable cost and complexity to the payments ecosystem. With end-to-end encryption, card data will never appear in the clear from the moment a consumer swipes his/her card through delivery to the processor, then to the card brands."
Steven Elefant, CIO, Heartland Payment Systems
"For 2010, I expect that in countries where domestic schemes are still in operation and domestic Maestro interchange fees have dropped to comparable levels as for the domestic ones, heavy competition will take place. Specialized and scale-effective acquirers and processors will probably pick up the cherries from the established order. This will increase the pressure on regulators and schemes to adjust interchange fees in other countries,enhancing competition even more. Anyhow, 2010 is going to be an interesting and challenging year."
Andy Makkinje, Vice President International Cards, Equens
Card payments or transaction acquiring are a part of the payment business which is often underestimated and rarely visible. However, it is an essential part of the value chain, and often critical to the success of payment systems.
by: David Vesely
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