Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Paying in 2025: Scenarios for payment systems in Germany in 2025
Journal of Payments Strategy & Systems,
10
(3),
253-259
(2016)
Abstract
The world of electronic payments is changing at a tremendous speed. New payment systems are being established, new actors are entering the playing field, and the expectations of customers are increasing. The change of purchasing channels and the digitalisation of business processes are having a strong impact on the requirements for payments. Competition in the payments sector is becoming fiercer, also due to the regulatory interventions that are opening the market for new players and innovative technologies. What is the upshot of this? Fundamental changes are to be expected — on the level of payment instruments, on the level of the underlying technical infrastructure, and with regard to the functioning of the entire ecosystem ‘payments’. This paper summarises the results of a study on the possible developments within the payments sector over the next decade in Germany. The study was conducted by SRC Security Research & Consulting with the support of Fraunhofer INT and Z-Punkt, The Foresight Company.
Keywords: FinTech; digital banks; instant payments; PSD2; PISPs; AISPs; authentication procedures; payments infrastructure; customer interface; new technologies
The full article is available to subscribers to the journal.
Author's Biography
Gerd Cimiotti is Managing Director of SRC Security Research & Consulting, a professional services company, set up as a common competence centre of the German banking industry for information security, with a strong focus on electronic payment systems and smart-card-based systems. Gerd Cimiotti has long-standing experience in retail banking IT projects, especially in payment cards, and in the conception and implementation of complex transaction systems. He represents the German banking industry on the EMVCo Board of Advisors and in several European card standardisation initiatives. Before joining SRC, he worked for the Association of Cooperative Banks in Germany, with special responsibility for card payment systems. Gerd Cimiotti holds a Master’s degree in business economics from Universität des Saarlandes in Saarbrücken, Germany.
Christina Nadine Dahl has been working with SRC Security Research & Consulting since 2013. She works in the sales department, is responsible for translation projects and supports various accreditation and test projects. Before joining SRC, she worked with Bank-Verlag GmbH where she coordinated licence projects for the issuing of payments cards with MasterCard, Visa and JCB. Christina Dahl obtained a Master’s Degree in Translating and Conference Interpreting from Heriot-Watt University, Edinburgh, Scotland, UK.
