Snapchat and Square recently announced “Snapcash”. This service enables to exchange money directly between two persons (so called P2P: person to person) right from the Snapchat app prompt line. At [...]
Reading up on the latest developments in PAAS I experienced a very strong deja-vu feeling: the banks are not in a position, nor do they want to be apparently, to create a common interoperable standard together while true interoperability is critical to the success of PAAS. I have seen this happening all before with SEPA CSM interoperability (see Half-baked CSM interoperability, SEPA: a Missed Opportunity for True Payments Standardisation). Will history repeat it self again?