Innovation at the speed of thought versus governance at the speed of data protection

Christopher Martlew, CTO Payvision & Acapture: In payments we’re not only at the core of ecommerce, but increasingly of in-store commerce

Regulatory background

Before PSD and PCI-DSS, entering the payments business was relatively unregulated. We now have an abundance of rules and regulations with which we need to comply, and soon we’ll have PSD2 and GDPR added to the mix. As an industry, we can be prone to criticizing our controlling institutions, but I believe that the regulators and other rule-making stakeholders provide both barriers to entry and business opportunities. In our business where PSD2 is aimed at breaking established data monopolies, GDPR endeavors to ensure we handle data with appropriate care. Both provide great business opportunities for established players, as well as for newcomers.
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