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I disagree as to innovation being 100 pct tied to platform renewal. White label cloud services enable innovations with single sign on - very small investments.

Repeating what I said. The new payment infrastructure should look at end-to-automation - especially for the SME-sector. Front-end mobile payments  deserve action and get publicity - but the new value is in the full value chain.

High time to realise that e-invoicing (payment proposals in structured form) is a part of payment services. Only then will customers be able to low cost automation of procurement and approval processes (up-stream) - and VAT-reporting and account-statement-integrated automatated accounting (data-extraction for down-stream.

Cheques still ruling?

https://www.finextra.com/blogs/Fullblog.aspx?blogid=8900

Well - this happened overnight in Finland in 1983 - when we started to charge the equivalent of 8 cents per cheque form. Visible pricing made consumers move to a better deal for themselves. As should be done today for paper invoicing - they pay anyway  - why not visibly?

Important reminder. Still - if we want to change the world - we should also come - or be forced to come - together. Regulators are the very source of innovation in the car industry. Maybe they should be invited into digitalisation of administrative processes as well..

We are using structured data in national standards with reformatting services for global reach. PDF dose not support this but is sometimes used when a party needs a picture or a digital signature. Reformatting breaks digital signatures as you know - one reason for regulating away mandatoryship in new EU VAT directive.

I suggested in a recent post that mobile payments should take the payment initiation route - as so many more merchants are sending propositions to the customers mobile anyway - and the whole buying+payment can then be a simple press A. The habit and technology is already in place in e-invoicing. Consumers in the Nordic countries get 1 bn invoices a year and SMEs a further 0,5 bn.

The extra benefit with this structured data model is automated accounting and VAT-reporting at both ends..

We are focusing on automation of VAT-reporting. A move to real time payments is another aspect - and that has to be an EU-wide move for obvious reasons and enterprises should be compensated for the loss of interestfree financing this would be.