Artikel

The transfer strikes back

von Kilian Thalhammer / vom 20. September 2018

The bank transfer is probably the oldest and best known “online means of payment” – known from “film and television” – born offline and digitally. But never really made the step into the online World. Sure there was (sorry there is) the immediate transfer. Which is now in Swedish hands and soon will probably be “integrated away”. But with a maximum market share of 5 % you are not really a “relevant player “after all (even if this is often perceived abroad – in Germany sofort is mandatory necessary). And it feels like that is sinking as well. The Gallic village “Giropay“ is also still here – but does not move at all – because whoever moves gets shot, says the one or other strategy guide. Paydirekt came afterwards – 100 mio. later. Though all conditions were given to place the transfer into the online world – customers (the only payment method without expensive customer acquisition), infrastructure, budget – it did not work out. There are many reasons, but rather to evaluate elsewhere – let´s look into the future.

 There is movement “in the booth “– thanks to PSD2 – the banks must open up – not only “reading “(AISP) but also “writing” (PISP). If everyone must open up, any other bank can also just use the services of the competition and build products with it. The “instant clone“ is probably the most obvious in the area of payment transactions.

Die Überweisung transfer strikes Back

What has been created so far:

The deutsche Bank was “the first” (at least in communication) – also something new–to build a competitor product together with IATA in the vertical airlines. The pitch is simple – the schemes are “mean” and charge 1-3%. This can also be cheaper (which is right) or you would rather have it yourself.

Die Überweisung / transfer strikes Back

In addition, a “B2B infrastructure” based on virtual credit cards is developing in the airline/travel sector. This too is “expensive” but in some cases there is no other alternative. A relevant growth market for the DeuBa/IATA approach would be B2B bank transfer.
Of course, DeuBa still has an ulterior motive – one certainly does not want to play completely open – i.e. an account of the transfer should be with DeuBa, – the “recipient account” with the airline. Even though this contradicts the “open mind “, in the case of the airlines it can be doable in an “acute market”. Some airlines are probably already with DeuBa- and the transaction is at least in parts” intern”. A niche product with potential – whether the end customer (for whom it is just another payment method) uses it, remains to be seen – despite the Eu, the CC transaction learned is still “more international” for the customer. In the B2B sector something can emerge in markets that are more likely to be adverse to CC – a niche within a niche.

Is this now the “death” of the immediate transfer? – Maybe – but for other reasons however – the product has been in “Status Quo” for years – still drops “60 % margin” – but is milked and then “slowly integrated”. There remains a gap…. who uses the opportunity? Being quick – being market-focused … or will the “5 % “also be divided – a little bit of White Label, a little bit of Giropay, a little bit to the established – and no one noticed.
Would be a pity……

An what does that mean for Paydirekt and Giropay? If the “White Labels” take the lead – will they still be necessary? Or is the future in the “Backend?”
Is the chance of Paydirekt and Giropay possibly. “in the Backend” and the integration?

What does Stefan Krautkrämer – Managin Director of FinTecSystems – the publisher of Sofort Pay – think about this:

„We have been specialists in the fields of online banking, payment and banking process for over twelve years now and have internationalised products in Europe, helped to build up a bank, and very successfully implemented account information services at banks. Based on this experience we know that the factors at stake are safety, convenience and sensible value – added services for new products. We have implemented all this with sofortpay and we will continue to build clever solutions for the end customer that create real added value “

Still looks like a “return coup” – but it doesn’t matter – the market needs new solutions – and if it is simple, flexible and fast – it is only good for all the stakeholders – and shows that the regulatory system really gets there in real life…. More to come….

Die Überweisung transfer strikes Back

Conclusion – transfer

Regulation works – at least on a small scale – we hope for more. Every new solution is good for right now and has a right to exist. Above all it shows what is now possible through the PSD2. One must continue on this path and make more new products possible. An IMMEDIATE does not have to freeze into “awe “– even the schemes are not immediately under maximum pressure. But ignorance has always been a bad companion.


Autor(en)

Kilian Thalhammer

Kilian Thalhammer ist seit mehr als 15 Jahren im Bereich Payment/ FinTech/ eCommerce & Loyalty unterwegs. Nach seiner Rolle als Director Solutions für die Swiss Post war er CPO bei RatePay (Otto ) und GF bei PAYMILL (Rocket Internet). Im...mehr


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