Page 16 - IMF-欧洲的金融科技：机遇与挑战（英文）-2020.11-35页.pdf

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B. Fintech Payment Innovations

17. Fintech companies provide a wide array of solutions, inside or outside the card
network. Large fintech companies like Adyen or Klarna offer a full suite of payment
solutions for PoS and online payments. They offer a gateway for online payments, which
handles authentication and security, and processes payments through several means such as
cards, e-wallets, and SEPA direct debit. While payment services offering P2P transfers are
common, payments to retailers that circumvent card schemes are more limited, and usually
involve small retailers in domestic markets. Fintech companies like iDEAL or BLIK rely on
domestic ACHs to avoid card schemes (see Box 3).

18. Other companies focus on specific issues, such as fraud detection or cross-border
integration. For instance, German Fraugsters provides payment companies and merchants
with an AI platform to detect and prevent fraud. U.K.’s Rapyd provides a platform for e-
commerce companies and financial institutions to embed local payment methods into their
applications, so that they can easily access foreign markets.

19. Banks are also adopting or developing fintech solutions. European banks have
embraced solutions which improve data security and authentication. Instead of card numbers
they use one-time dynamic security codes, and fingerprint or face recognition technology. Apple
Pay is one such popular solution. They have also developed their own solutions, including to
strengthen authentication. For example, NatWest/RBS have issued biometric fingerprint credit
cards, while Barclays offers finger vein reader technology to its corporate customers.