About Us

What is CAPS?

 

Convenient Access to PSD2/Payment-related Services (CAPS)

 

The CAPS market initiative is a large multi-stakeholder coalition-of-the-willing that aims to make PSD2 work safely, in practice and at scale for all. It is an open forum that proposes solutions to the technical, business and operational issues faced by potential PSD2 stakeholders across Europe. Banks/TPPs/FinTechs/service providers/corporates/mobile industry/etc work together here to develop a framework that works for all – not just for one side of the industry.

CAPS notably is dedicated to addressing not only the technical interfaces but sees a need for a broader framework covering also operational services e.g. for directories (list of ASPSP reachable for a TPP, information for TPPs on how to connect to the ASPSP), for fraud management (not only by individual players but in a concerted way across the PSD2 eco-system), for more structured dispute resolution (rather than users and TPPs calling bank hotlines) etc.. One such important topic to “make PSD2 work in practice” is seen as the provision of optional intermediary parties to facilitate or concentrate the connections between PSPs (“hubs” or “aggregators”) for easy reach and connectivity across Europe.

CAPS have identified three levels of service:

  • PSD2-compliance (e.g. reducing the effort needed to comply),
  • making PSD2 work in practice and at pan-European scale (e.g. aggregation of individual ASPSP interfaces, directory services, fraud detection, dispute resolution, inter-PSP authentication support),
  • Supporting new business models for ASPSPs and TPPs.

The CAPS community has developed a good deal of the framework, much of which it is contributing to Euro Retail Payments Board (ERPB), and individual members are planning to pilot CAPS concepts to harden the framework. Since CAPS is an open organisation the framework, or elements thereof, can then be adopted by all those wishing to compete in the market to provide the services, thus making the market bigger and better for all.
 

 

Why CAPS services?

The CAPS services and the underlying open framework realise the regulatory intent of the PSD2 and brings benefits to users (better services, greater convenience, increased security and full users' control of any access), merchants and FinTechs (convenient access to many banks across Europe in a harmonised way) and banks (reduction of complexity and cost plus becoming more attractive for new services provided directly on the bank account by third parties).

One such important topic to “make PSD2 work in practice” is seen as the provision of optional intermediary parties to facilitate or concentrate the connections between PSPs (“hubs” or “aggregators”) for easy reach and connectivity across Europe.


CAPS has identified three levels of service:

  • PSD2-compliance (e.g. reducing the effort needed to comply),
  • making PSD2 work in practice and at pan-European scale (e.g. aggregation of individual ASPSP interfaces, directory services, fraud detection, dispute resolution, inter-PSP authentication support),
  • Supporting new business models for ASPSPs and TPPs.

These services may be provided by any existing or new industry member in competition. CAPS provides the standards in order to ensure interoperability and quality.

Benefits for banks and financial institutions

The CAPS market initiative is a large multi-stakeholder coalition-of-the-willing that aims to make PSD2 work safely, in practice and at scale for all. It is an open forum that proposes solutions to the technical, business and operational issues faced by potential PSD2 stakeholders across Europe.

Banks/TPPs/FinTechs/service providers/corporates/mobile industry/etc work together here to develop a framework that works for all – not just for one side of the industry.

Benefits for banks are:

  • Cost effective compliance to PSD2 and the Regulatory Technical Standards of EBA
  • Put bank account at the center of payments
  • Higher level of security at lower costs and increased responsiveness
  • Efficient and effective dispute handling process
  • Access to new functions and business opportunities

Benefits for FinTechs and TPPs

The CAPS market initiative is a large multi-stakeholder coalition-of-the-willing that aims to make PSD2 work safely, in practice and at scale for all. It is an open forum that proposes solutions to the technical, business and operational issues faced by potential PSD2 stakeholders across Europe.

Banks/TPPs/FinTechs/service providers/corporates/mobile industry/etc work together here to develop a framework that works for all – not just for one side of the industry.

Benefits for FinTechs are:

  • Single Standardised Access to a range of banks
  • Simple enrollment and integration process
  • Access to development portal and standard and value adding APIs
  • Standardised procedures such as dispute management

Participants

D+H

Dias

Escent

GSMA

Gocardless
 

HUAWEI
 

ICON
 

Nordea

SWIFT

TIETO


.....and you?

Participate, join here