Simon Taylor outlines rise of Pay by Bank across Europe
@sytaylor: Simon Taylor on Pay by Bank
In recent developments, Simon Taylor, a noted expert in the field of financial technology, outlines the rise of 'Pay by Bank' services.
This move signifies a growing trend as major Payment Service Providers (PSPs) seek strategic partnerships to enhance offerings. Stripe and TrueLayer's expansion beyond the UK into Germany highlights this shift, marking a significant milestone in the adoption of 'Pay by Bank' innovations.
Initiated as an 'interesting experiment' in 2021, these services are now increasingly seen as vital to financial transactions, attracting the interest of industry giants. Taylor's insights depict a landscape where PSPs are positioning themselves for competitive advantages as user demand for direct bank payment solutions grows.
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Taylor’s perspective on the accelerating adoption of direct bank payment solutions aligns with broader transformations within digital finance, notably the regulatory shifts detailed in the analysis of the GENIUS Act as a stablecoin tipping point. These developments also reflect dynamics observed when large-scale funding, such as TryRamp’s $16 billion raise for global stablecoin expansion, redefines the competitive landscape for both incumbents and new entrants.
In the previous news, tweet author Simon Taylor discussed the potential implications of regulatory shifts in open banking, highlighting the industry's concern over reverting to less efficient bilateral agreements with banks.
