Both SEPA zone acceptance and two-factor authentication are mandated under PSD2, however, the implementation is cumbersome and difficult. Further complicating matters, merchants are tasked with API integration — an unrealistic expectation on a global scale. On the consumer end, customers are providing their banking information to hundreds of merchants per year, exposing themselves to high fraud potential.
GATE utilizes revolutionary technology to solve the primary issues that banks face today.
Is a cashless society a better society?
“Cashless societies are absolutely the future. As that approach becomes more mainstream, the primary issue eWallet providers, merchants and payment service providers will face is how to make all the systems talk to each other."
Winning the e-wallet wars
“No one can predict who is going to win the eWallet wars, but success is certainly dependent on how well everyone from Apple and Android to Facebook understand the needs and potential of their audiences."