Open Forum on Pan-European Instant Payments Frankfurt 17 April 2018

Open Forum on Pan-European Instant Payments, 17 April 2018 Participants in the forum are reminded of their responsibility to observe anti-trust laws.

The EBA Anti-Trust Policy is available at the EBA website.

https://www.abe-eba.eu/media/azure/production/1352/eba_antitrust_policy_20170602_final_clean.pdf

EBA Informationsveranstaltung Page 1 CUG Wien, 8. Mai 2018 Wolfgang Ehrmann Chairman Euro Banking Association WELCOME AND INTRODUCTION

Open Forum on Pan-European Instant Payments, 17 April 2018 2 EBA Open Forum on pan-European Instant Payments

… and now where is the demand side?

• Wolfgang Ehrmann

• Chairman of the Board

Open Forum on Pan-European Instant Payments, 17 April 2018 3 Pan-European Instant Payments – three years from design to operations

ERPB, 01. December 2014 EPC, 30. November 2016 EBA CL, 21. November 2017

Open Forum on Pan-European Instant Payments, 17 April 2018 4 The EBA Open Forum on pan-European Instant Payments

Initiated by the EBA in response to the Euro Retail Payments Board’s (ERPB) call for action, the Open Forum on Pan- European Instant Payments was set in place in March 2015 and is geared at fostering a practitioners’ dialogue on service requirements for instant payments. The Forum will in particular serve to: • Support the “migration of minds” towards instant payments; • Foster a practitioners’ dialogue amongst PSPs at a pan- European level on Instant Payment service requirements; • Facilitate a dialogue with other stakeholders; • Understand the perimeter of a new collaborative space for infrastructure services to support Instant Payments; • Provide input into the up-coming Instant Payment Scheme discussion in Europe; • Liaise with EPC; • Liaise with industry initiatives and also at a global level.

Open Forum on Pan-European Instant Payments, 17 April 2018 5 OFoIP: seven critical success factors

1: (non?-)relevance of use cases for the creation of an 4: building on existing technical instant payment environment foundations/ingredients where possible “Use cases are not the most relevant factor and they will “From a technical perspective, instant payments solutions evolve over time anyway. Instant payments will be used for a should re-use existing standards and infrastructure elements lot of different payments. PSPs should put in place where possible, taking into consideration both the pan- infrastructure and processes that are capable of supporting European and global aspect” multiple use cases and initiation channels.” 5: key customer needs with regard to instant payments “Customers will need immediate availability of funds and 2: time criticality of putting a solution in the market immediate confirmation of a successful transaction”

“Speedy availability of instant payments will be key – the industry should aim for a quick start with a basic service 6: key pre-requisites at PSP level for instant payments allowing the development of additional products on top of this” “PSPs will need to connect to an instant payment infrastructure and ensure real-time booking in their internal systems and speedy AML and KYC checks” 3: need for a pan-European scheme-building effort “There is a need for transparent rules to ensure instant 7: pan-European reach as the key challenge for PSPs payment services will be secure, standardised and subject to one regulatory regime and set of access rules” “Establishing pan-European reach will be the key challenge”

Open Forum on Pan-European Instant Payments, 17 April 2018 6 Pan-European Instant Payments are reality © EBA Clearing, 2018 EBA ©

Open Forum on Pan-European Instant Payments, 17 April 2018 7 Since its beginning, RT1 provided pan-European Reach © EBA Clearing, 2018 EBA ©

Open Forum on Pan-European Instant Payments, 17 April 2018 8 Number of participating banks is growing steadily © EBA Clearing, 2018 EBA ©

Open Forum on Pan-European Instant Payments, 17 April 2018 9 Instant payments – The new normal

Open Forum on Pan-European Instant Payments, 17 April 2018 10 Part 1 ZOOMING IN ON CORPORATE TREASURY

Open Forum on Pan-European Instant Payments, 17 April 2018 11 Boris Jendruschewitz Vice President Corporate Finance Otto Group

Open Forum on Pan-European Instant Payments, 17 April 2018 12 EBA Open Forum on pan-European Instant Payments Boris Jendruschewitz – Vice President Corporate Finance April 17th , 2018

EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Agenda

1 The Otto Group

2 Use cases of Instant Payments in our main business areas

3 Our view on the future of Instant Payments

14 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 The Otto Group is one of the world’s largest online retailers

. Founded as the mail-order company “Otto Versand“ in 1949, the Otto Group has been a family business since its foundation . Today, the Otto Group consists of 123 major companies operating in more than 30 countries in Europe, North and South America and Asia . The Otto Group is divided into three strategic segments: Multichannel Retail, Financial Services and Services . Currently, the Otto Group employs approximately 50,000 people . The Otto Group is one of the largest online retailers worldwide . Revenues in 17/18: EUR 13.7 bn (thereof EUR 7.8 bn eCommerce)

15 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 A diversified business: The Otto Group is a globally active group of retailers and retail-related service providers

Multichannel Retail Services Financial Services (E-Commerce, catalogue sales and retail stores) (Logistics, procurement and other (Receivables management, retail-related services) innovative financial services)

16 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Agenda

1 The Otto Group

2 Use cases of Instant Payments in our main business areas

3 Our view on the future of Instant Payments

17 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Use Case ‘Retail’ From quick win to new business models

Potential

Instant processing of prepayments Vision

New services (account information, returns, …)

Near Time Access to new services and business models

Medium Term

Time

18 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Use Case ‘Services’ Instant Payment against delivery

19 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Use Case ‘Financial Services’ Instant Payment in debt collection calls

20 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Agenda

1 The Otto Group

2 Use cases of Instant Payments in our main business areas

3 Our view on the future of Instant Payments

21 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 New technologies are going to create completely new business ideas There are various examples which could not be foreseen at the time of first introduction

Initial point for E-Book-Reader Self-Publishing of books new business models

 Digitised books Self-publishing: unknown E.g. authorship courses authors make their work available to a wide audience

. Instant Payments is not a disruptive technology, but can change the industry and associated sectors! 22 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Why should management of all companies care about Instant Payments?

At its core, Instant Payment is a finance Market implications topic with wide-ranging implications for finance processes.

Company-wide However, the overall implications are likely to be implications much broader. A cross-functional and company- wide perspective is needed to grasp the potential for changes across the entire organisation.

New Finance business implications models Instant Payments have the potential to gain strategic relevance and drive change in the market: New business models, changing customer behaviour or even entire new industries might emerge. The way we position ourselves for this technology may therefore become a key differentiator from our competition. Competitive advantage

23 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 “Request for payment“ may increasingly become standard for bank transfers

Customer’s Completes shopping and payment application 1 2 Generates request for payment* (e.g. online banking or third- proceeds to checkout party payment solution)

E-commerce * Message containing all relevant payment details which Online shop can be processed by the customer’s payment application customer 3 One-click confirmation 5 initiates a (SEPA) Confirms receipt of money credit transfer

Money is transferred via Online shop’s bank 4 Customer’s bank SEPA credit transfer

Higher convenience for the customer: Efficiency gains for the retailer:  Credit transfer details are automatically populated  Fewer reconciliation cases  No need for manual input  Less risky than direct debit: No return / rejection risk  In combination with instant payment technology, requests for payment may become an efficient and secure payment method

24 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Otto Group’s step-by-step implementation of an Instant Payment environment

Step 3: „Request for Instant Payments“ via „Payment Initiation Service Provider“

Step 2: Reimbursements to customers via Instant Payments

Step 1: Instant processing of received Instant Payments

25 EBA Open Forum on pan-European Instant Payments  April 17th, 2018 Boris Jendruschewitz Vice President Corporate Finance - Otto Group Werner-Otto-Str. 1-7 22179 Hamburg

email: [email protected]

www.ottogroup.com

30 Norbert Hambloch Leiter Treasury STRABAG Property and Facility Services Gmbh

Open Forum on Pan-European Instant Payments, 17 April 2018 27 INSTANT PAYMENTS FOR CORPORATES – CHANCES AND CHALLENGES

STRABAG PROPERTY AND FACILITY SERVICES

NORBERT HAMBLOCH

17/04/2018 OUTLINE

● Short portrait STRABAG PFS Group ● Digitalization of payment transactions ● IP Key Facts ● IP B2P ● IP B2B ● IP benefits ● IP challenges and no-goes

STRABAG Property and Facility Services (STRABAG PFS) is a leading real estate and industrial service provider with a high level of vertical integration along the value chain for the technical, infrastructural and commercial management of complete locations and entire portfolios. The group’s workforce of over 14,100 employees generates € 1.1 billion with top industrial clients and all leading German property companies. Its service portfolio comprises real estate management, technical and infrastructural facility management, construction in existing buildings and, via DIW, specialist services such as industrial maintenance and cleaning. STRABAG PFS is represented throughout Germany with its own locations and employees, including at B and C locations. Through its integration in the STRABAG Group, the company is able to provide services for its clients internationally, including Europe. STRABAG PFS currently operates in Hungary, where it is the market leader, and in Austria, Poland, Slovakia and the Czech Republic.

30 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 KEY FIGURES KEY FIGURES STRABAG PFS-GROUP* REFERENCES (SELECTION) Head office Frankfurt am Main/Münster Employees 14,141 (headcount) Revenue € 1,098 million Of which in Germany Technical facility management/ building management: € 644 million Real estate management: € 87 million Infrastructural facility management/ industrial services: € 366 million Types of property ● Offices ● Computer centres under management ● Retail markets ● Technical sites ● Residential properties ● Industrial properties ● Properties run by ● Production sites operating companies Properties 72,600 (not including apartments) Space under 30.5 million m2 management Total lettings 331,000 m2 Assets under € approx. 20 billion Management (property management for property companies) Space management 20,000 moves per year 10.7 million m2 of space under management

* As of 31 December 2016

31 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 LOCATIONS AND QUALIFICATIONS

Flensburg

Kiel

Rostock Elmshorn Lübeck PROPERTY MANAGEMENT RENTALS AND LETTING

Glinde Schwerin 400 real estate agents and specialists in Stade Hamburg 100 specialists in user support and property Leer contract management, property marketing. Oldenburg Bremen management, property accounting and ● 32 letting managers Uelzen Biesenthal incidental cost apportionment. ● 12 locations Berlin ● 200 property managers, including Hannover Potsdam ● Preferred partner network with another Königs Wusterhausen 71 in residential property services Osnabrück ● 56 technical property managers roughly 50 sales locations Minden Magdeburg Braunschweig Biere Steinfurt ● 14 locations Bielefeld Wernigerode Münster Bad Muskau Wesel Recklinghausen Göttingen Schkopau Gutenberg Dortmund Duisburg Nordhausen Leipzig Hagen Radebeul Krefeld Essen Kassel Artern/Unstrut Meschede Dresden Neuss Erfurt Düsseldorf Gera Chemnitz INDUSTRIAL SERVICES / INFRA- Mönchengladbach Gotha TECHNICAL FACILITY MANAGEMENT Netphen Jena STRUCTURAL FACILITY MANAGEMENT Düren Cologne Gießen Fulda Suhl Aachen ● 350 engineers ● About 6,500 employees* at Bonn Usingen Bad Neustadt Steinbach ● 2,700 craftsmen and master craftsmen ● 41 locations Koblenz Frankfurt Eschborn Aschaffenburg Schweinfurt Bayreuth ● 280 employees at 42 computer centres, Wiesbaden Hanau ● provide operations supporting Heusenstamm Trier Alzey Bamberg including 100 certified specialists services, industrial cleaning and Würzburg Weiden Darmstadt Saarbrücken Philippsburg Nuremberg ● 350 employees in the field of radio and maintenance as well as intersectoral Kaiserslautern Mannheim Heilbronn Ansbach broadcast technology, including 27 infrastructural facility management Crailsheim Neustadt Schwäbisch Hall Regensburg specially trained tower climbers Leonberg in several industrial branches Stuttgart Aalen Plattling Heidenheim Ingolstadt Landshut ● 352 locations and branch offices Karlsruhe Langenau Göppingen Rastatt Passau * headcount Ulm Offenburg Reutlingen Augsburg Rottweil Munich Singen Weilheim Freiburg Memmingen Traunstein Ravensburg Kempten Rosenheim Konstanz

32 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 REAL ESTATE MANAGEMENT

PROPERTY COMPANIES/ RENTALS AND LETTING/ CORPORATE REAL ESTATE SOLUTIONS SPACE MANAGEMENT

● Tenant support and tenant loyalty ● Market and location analyses ● Lease contract management ● Property analysis ● Lease- and property accounting, ● Location and optimisation plans payment transactions ● Letting ● Accounting of service charges ● Tenant representation ● Budget planning, controlling and reporting ● Technical property management ● Relocation management ● Condominium/individual freehold management ● Workplace management ● Management costs and performance management ● Due diligence ● Selection, contracting, and supervision of external service providers

STRABAG Property and Facility Services GmbH STRABAG Residential Property Services GmbH

33 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 FACILITY MANAGEMENT TECHNICAL INFRASTRUCTURAL CONSTRUCTION MANAGEMENT FACILITY MANAGEMENT FACILITY MANAGEMENT (IN EXISTING BUILDINGS) ● Routine cleaning ● Property management ● IT-supported planning and ● Glass and facade cleaning construction management ● Inspection, maintenance, ● Maintenance of outdoor and from a single source repair green spaces ● Procurement and ● Fault management ● Winter services organisation of construction ● Energy management ● Caretaker services services ● Dish washing and kitchen ● Obtaining necessary ● Building security, entry systems, services video management authorisations ● Postal and copy services ● Guarantee management ● Fulfilling obligations to users, ● Reception and security services neighbours, and public ● Maximum availability ● Inhouse removals bodies

● Pest control ● Facility management during ● Removals construction

STRABAG Property and Facility Services GmbH DIW Instandhaltung GmbH

STRABAG Facility Services GmbH

34 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INDUSTRIAL SERVICES

MACHINERY AND SYSTEM SERVICES INDUSTRIAL FACILITY SERVICES

● Servicing according to DIN 31051 for ● Manifold cleaning processes, i.e. ultra-high- production engineering pressure water-jet cleaning up to 2,500 bar ● Assembly and disassembly ● Dry ice cleaning, vapour cleaning, ● Retrofit ultrasound cleaning etc. ● Cleaning of complete industrial facilities ● Services for paper machines and painting systems ● Services for machine tools ● Cleaning of production halls and ● Service for Donau machine tools warehouses ● Technological steelwork ● Servicing according to DIN 31051 for ● Plant assembly supply engineering ● Pipeline construction ● Execution of periodical examinations (i.e. shelves, ladders etc.) ● Railway vehicle manufacturing ● Individual services as for example ● Maintenance and servicing of machines automobile detailing, ground working, and plants for production of semiconductor industrial fillings products under clean room conditions DIW Mechanical Engineering GmbH DIW Instandhaltung GmbH, DIW System Dienstleistungen GmbH DIW Aircraft Services GmbH,

35 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 REAL ESTATE SERVICES 4.0

Current developments in real estate

• Artificial intelligence in Property Management: What’s the use of data mining and machine learning in commercial real estate management? • Robotic Process Automation-RPA. The complete automation of processes is advancing. • Digitalization of buildings: Digital maps of rooms and corridors implies new services. • Internet of Things IoT and sensors: “Predictive Maintenance“ facilitates infrastructure and technical services. Sensors will tell you whether the air condition needs to be maintained, who is in the room, whether the air in the room is fresh, and where the furniture is located. • Linking IoT and sensors with payment functions: “Pay per Use”. Linking sensors and digital wallets. Automated payments after an event. • Private Blockchain for the safe and comprehensive storage for digital documents.

36 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 DIGITALIZATION OF PAYMENT TRANSACTIONS

Digitalization implies saving, storage and transport of digital information (electronic data) in contrast to analog data ● Email instead of paper ● Instant Payments instead of “normal” transactions

Digitalization means to process the entire e.g. supply chain electronically: Current status: many media disruptions, no complete digitalization

ERP of the Beneficiary Transport ERP Originator‘s Transport supplier Payment Bank Bank

• Paper bill • Mail • Scan Batch- • PDF • Email • Transform Multiple times Execution on processing vs. Confirmation • XML-bill • Dreams of the • Direct a day pre-set date future processing Real-Time INSTANT PAYMENTS: KEY FACTS

• Real time payment (max 10 s) • Max limit of €15,000 at the beneficiary bank • Finality of payment • Confirmation of (un)successful payment • Cash receipt is immediately available for the beneficiary • Availability of systems: 24/7/365 • Only Euro payments in SEPA area • Scheme: basis SEPA CCT, but with “LocalInstrumentCode“=“INST“ • Assignment as individual transaction

38 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS FROM THE COMPANY‘S PERSPECTIVE

P2P Purchase and sale of goods, B2P Salary payments Advance objects between private payments Travel expenses individuals

P2B B2B Purchase and sale of goods, Payments to: suppliers social objects in retail, internet shops insurance etc. utilities taxes

39 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2P • Salary payments (HR-system) • Payment needs to be on the bank account at a certain date  But: today there is no guarantee that the bank takes responsibility for the timely and proper completion of the transaction • Employees may have their salary at their disposal only during the course of the day and potentially not in time • Different local bank holidays in Germany and Europe:  Only few days in common (TARGET-bank holidays)  Majority of banks are closed (also in Germany) and transfer retrospectively with the correct value date, no disposal of payment  Example: August 15 in Bavaria and BW

40 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2P • Salary payments

 In case of errors or improper performance in payment transfers (late payments) a penalty payment to the employees will be due : € 40 per personal claim (§ 288 Abs. 5 BGB) plus subsidiary claims e.g. default damage

• Manually initiated payments:

 Advance payments on salary and travel expenses

41 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B • Today ERP-systems are usually real-time-systems

• Payment processes are typically batch-processes

• Transition from batch to real-time-processing requires significant process modifications  Payment runs during the day instead of during the night  Multiple payment runs as required  Continuous invoice management and approval process

• Problem: Cut-off times: range from 12:00 pm until 4:30 pm

• Authorization and execution of payment files mostly on the following day

42 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B • Payments to suppliers  Suppliers today are the weakest link in the chain  High liquidity requirements  Low credit-rating  A high discount will be granted e.g. 8 days 3 % discount  Major challenge in invoice process flow from invoice receipt to acceptance and payment  Timely payment. Therefore creation of a separate payment method for urgent payments via TARGET in SAP. But: only same-day processing and settlement, no guarantee for a specific time

43 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B • Payments to suppliers  Many local suppliers (DIY stores, retailers etc.)  Requirement for nationwide cash supply of our employees, acceptance of debit (Maestro) or credit cards is very low in Germany  Maestro-cards are not an option due to missing limit management and sole availment authorization  Rental payments for our clients often should be credited to the landlord’s account by 12 pm  No timed payments

44 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B

• Payments to power utilities  As a real-estate-service-provider we often receive notices of power supply disconnection due to late payment  Immediate payment transfer via CCU (urgent payment)  Print out of the complete transaction protocol  Dispatching the protocol via fax or email to the power utility company to avoid supply disconnection

45 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B

• Payments to tax authority  Taxes must be credited on the tax authority’s account at a fixed date  If there is a delay of payment, an extra charge for late payment at a value of 1 % of the pending amount per month will be added  Today: urgent payment (CCU) or  Entitling the tax authority to debit the bank account via direct debit − Nasty surprises about the specific date of direct debit − Too early or too late − No pre-notification by the tax authority − Not possible in all countries 46 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS B2B • Payments to social insurance/social security  Social security contributions must be credited to the account by the third working day to the last day of the month  Local holidays must be taken into account  No retrospective value date for social security  SEPA-rules only for private customers: value date = payment + 1 day Social security: value date = payment date + 2 or 3 days  If there is a delay of payment, an extra charge for late payment at a value of 1 % of the pending amount per month will be added  Today: payments by the fifth working day to the last day of the month

47 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 BENEFITS OF INSTANT PAYMENTS B2P AND B2B

• Real-time payment (max 10 s) • Guaranteed execution at the fixed date and time • Time of crediting the payment to the beneficiary’s account is controllable • Finality of payment • Confirmation of (un)successful payment • Cash receipt is immediately available for the beneficiary • Availability of systems: 24/7/365 • No local holidays for bank transfers anymore throughout Europe

48 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS DISADVANTAGES AND ABSOLUTE NO-GOES • Lack of reachability of beneficiary banks, scheme is only optional (no-go) • Limit of € 15,000 at beneficiary bank (Closed-User-Group of some banks enables payments without limit Nov. 2018) (no-go) • Assignment as individual transaction, delivery of bulk-data-files not yet possible (no-go) • Delivery of bulk-data requires payment date and payment time • Missing possibility of recalls • Proposal: minimum 30 minutes between delivery and execution, time for recalls

49 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 INSTANT PAYMENTS DISADVANTAGES AND ABSOLUTE NO-GOES • Missing order type for delivery of bulk-data via EBICS (planned: CIP from Nov 2018) • Notifications of cash received? • MT942/camt.052 • MT???/camt.054 • Bulk or one by one? • In other countries (e.g. Netherlands from 2019) Instant Payments are expected to replace “normal” SEPA-payments CCT (without any limit) • How will this payment be credited to the beneficiary’s account, if the beneficiary bank doesn’t accept instant payments and/or the payment is limited to € 15,000?

50 © STRABAG Property and Facilty Services GmbH, Instant Payments, Norbert Hambloch, 17.04.2018 Thank you for your attention. Pascal Spittler Business Developer, Business Navigation and Finance Ikea Group

Open Forum on Pan-European Instant Payments, 17 April 2018 52 HOW CUSTOMER BEHAVIOUR AND REGULATION SHAPE IKEA’S PAYMENTS STRATEGY FRANKFURT, APRIL 2018 THE IKEA VISION

TO CREATE A BETTER EVERYDAY LIFE FOR THE MANY PEOPLE.

Our business idea is to offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them. Payments at IKEA Group Majority of IKEA TO growth 09-17 was paid with a card

+12.5 Billion € TO increase FY09 - FY16 Payment methods Share of TO Contactless Payments Share of number of transactions IKEA Food Debit 46%

Others FY14: 26% 6% +12.1 Billion € Credit Card TO increase 33% FY09 - FY16 (96%) Cash 15%

FY15: 35%

185 M€ Total Card Acceptance Cost FY16

Debit 32 M€

FY16*: 40%

Credit 153 M€ © Inter IKEA Systems B.V. 2017 US SK SE RS RU RO PT PL NO NL others KR JP cust.fin. IT B2B IE HU Cash HR GB Credit CB Credit FR FI Credit ES Debit DK DE CZ CN CH CA BE AU

90% 80% 70% 60% 50% 40% 30% 20% 10%

Recent Development Development Recent FY17 Means IKEA(TO) Payment 100% © Inter IKEA Systems B.V. 2017 US SK SE RS RU RO PT PL NO NL KR others JP IT cust.fin. IE HU B2B HR Cash GB FR Credit FI Debit ES DK DE CZ CN CH CA BE AU

0% 90% 80% 70% 60% 50% 40% 30% 20% 10%

100%

Recent Development Development Recent FY17 Transactions IKEAPayment © Inter IKEA Systems B.V. 2017 IRELAND 92% 82% 77% 76% 35% 27% 33% 2016 ROMANIA SPAIN IKEAFood – HUNGARY 9% 87% 74% 65% 58% 21% 7% 2015 POLAND RUSSIAN FEDERATION 5% 75% 64% 46% 2014 1% 0% 1% CZECH REPUBLIC

0% 90% 80% 70% 60% 50% 40% 30% 20% 10%

100%

Recent Development Recent Share ofcontactless MC transactions © Inter IKEA Systems B.V. 2017 FY 17 FY 16 FY 15 FY 14 Cash FY 13 Cards FY 12 FY 11 FY 10

FY 09

70.00% 65.00% 60.00% 55.00% 50.00% 45.00% 40.00% 35.00% 30.00% 25.00%

Recent Development Development Recent CZ Development Cash & Contactless Card, Zoom out today instant payments

8th Nov. 2016 India demonetisation of cash Real time payments in Europe

1 SEPA instant credit transfer is launched and soon P2P interoperable solutions

Demand for mobile 2 payments is driving P2P real-time payments, which in turn are leading to consumer-to-business real- time payments Customer appetite

1 Many people like to make payments directly from their accounts so as to better manage their budget

Get better price if rails 2 payment to transfers as lower merchant fees applies © Inter IKEA Systems B.V. 2017 EU LEGISLATION IMPACT FOR FOR MERCHANTS IMPACT PSD II

Payment initiation 1 services through dedicated APIs and fallback customer facing apps

Regulatory Technical Standard (RTS) on 2 Strong Customer Authentication (SCA) Five API standards Are bank specific implementations driving to national fragmentation?

Slovak Berlin Open PSD2 Banking STET PSD2 Group Banking UK Polish API API API standard PISP : Payment initiation OK OK OK OK OK service PISP : Payment initiation OK OK OK OK OK report PIISP : Balance OK OK OK OK OK inquiry

65 © Inter IKEA Systems B.V. 2017 WHERE WE WANT TO GO TO WHERE WE WANT PAYMENTS AT AT PAYMENTS IKEA WORLD'S LEADING We are on a Journey MULTICHANNEL HOMEFURNISHING RETAILER

• IKEA in the hearts & minds of the many people • A great customer experience • 100 billion euro plan

2030

MULTICHANNEL RETAILER

CASH & CARRY MAIL RETAILER ORDER WE ARE HERE RETAILER Interdependencies

Full secured Transaction Volume Receive & Pay processing Consolidation on behalf Simplification Contract Minimise Standardisation consolidation payment flows Easy to maintain Direct connect Smarter use of and change Improved stability available funds. Decline reduction Data visibility Why do we consolidate acquiring activities now?

• Increase IKEAs volumes towards less acquirers (Tender for Europe almost finalised) • No more territorial restrictions on acquiring licenses within the EEA • Prerequisite for a fully automated in-bound payment process (flow, booking & reconciliation)

• ‘Direct connect’ with the schemes (increase security, decrease technical declines)

• From 60 different reconciliation protocols  3-5 • Significant productivity increase • Ease implementation new payment means IKEA view on Instant payments

Payer PSP Payee PSP PSPs interaction

PSD2 Response

initiation and and initiation APIs Transaction Transaction notification PISP services Payment Initiation , other Service

APIs

Payer Payment initiation, Payee customer(s) interaction Instant payments potential

• Consumer are accommodate with mobile payments • Certainty of payments • Common European wide standards • Defined scheme rules Instant payments challenge

• Common customer journey online and offline • Interaction at Point of Sale • Fast and secure authentication Payment initiation at Point of Sales • Common implementation of Pan-European API standards In-store instant payment initiation service requirements

• Coexistence of pay by card and pay by bank

• Convenient and seamless user experience

• Common implementation, SLAs and maintenance of APIs

• Reachability of SCT inst. © Inter IKEA Systems B.V. 2017 THANKYOU COFFEE BREAK AND NETWORKING

Open Forum on Pan-European Instant Payments, 17 April 2018 75 Part 2 ZOOMING IN ON MERCHANTS

Open Forum on Pan-European Instant Payments, 17 April 2018 76 Lars Tebruegge Consultant to EPSM European Association of Payment Service Providers for Merchants – EPSM e.V

Open Forum on Pan-European Instant Payments, 17 April 2018 77 Instant Payments Zooming in on Merchants

Open Forum on Pan-European Instant Payments 17 April 2018 Frankfurt, Germany Lars Tebrügge Consultant to EPSM www.epsm.eu Agenda 1. EPSM Profile 2. Participation to SEPA Inst 3. Results 4. Summary

European Footprint of EPSM

www.epsm.eu 79 1. EPSM Profile Who are the European Payment Service Providers for Merchants? 68 EPSM members with headquarters in 16 PSPs European countries: Acquirers (AT, BE, CH, CY, CZ, DE, FR, Network Providers Processors GR, HU, IE, IT, LU, LV, NL, Schemes SE, UK) Manufacturers Others*

* such as: associations, e-payments, fin-tech, e-bill provider, gateway, solution provider www.epsm.eu 80 80 1. EPSM Profile Mission and Main Activities Mission: Main Activities: A non-profit trade association for - 3 regular meetings per year cost-effective interest - Information exchange by e-mail representation and general - EPSM Market Newsletter information exchange on issues - Participation in PCI and PSMEG relevant to payment providers for - Partnerships with other organisations merchants in Europe. and conference organisers - …

www.epsm.eu 81 2. Participation to SEPA Inst • A short survey was send out to all EPSM members. • The feedback rate of slightly above 10% was rather small. • Members of the following categories provided feedback: – Payment Service Providers – Acquirers – Schemes – Network Providers – Solution Providers.

www.epsm.eu 82 3. Results How detailed is your knowledge on SEPA Inst at present?

high medium low

www.epsm.eu 83 3. Results How interested is your company in providing services related to SEPA Inst?

high medium low

www.epsm.eu 84 3. Results How would you estimate the market relevance of SEPA Inst in 5 years?

high medium low

www.epsm.eu 85 3. Results What is missing in SEPA Inst to become a success? (1) - PSP access point. - Wider participation of all banks in Europe. - Clarification of costs of SEPA Inst for PSP. - The possibility to be broadly adopted, quickly. - Better middleware and integration with other schemes such XS2A and AML/KYC products. - De-risking a transaction becomes more critical when the speed of transfer execution becomes faster.

www.epsm.eu 86 3. Results What is missing in SEPA Inst to become a success? (2) - A guidance paper on applicability of KYC processes required of AISP and PISP providers. How much can we rely on the Bank’s KYC efforts vs that of a PISP? - Banks are challenged to provide secure connections that comply with SCA while some are using SCA as a mechanism to block the free access to payments. The crux is the point where liability shifts from the bank to the PISP in the case of exemptions from SCA. Recurring payments for instance and low value payments, need a method, within the scheme, to gain protection from liability.

www.epsm.eu 87 3. Results Are there changes to the set-up of SEPA Inst you would like to suggest? - Too early for changes. PSPs need to see participation of all banks in Europe and get an understanding of the costs of SEPA Inst. - Use cases and business cases are missing up to now. - Not knowledgeable enough to comment. - The time limits for approvals should be driven down to levels below those seen in the debit card market. These payments are processed on the back-end by the same back office core banking systems while the front-end is conceivably built with newer and faster technology.

www.epsm.eu 88 3. Results With the information available to you at present, do you see a business case for you offering SEPA Inst (yes/no and why)? (1) - Yes. Speed of payment to merchant/acquirer increases satisfaction. - Yes, the faster transactions can be executed with sufficient coverage from a compliance perspective can only enhance the speed of commerce and settlements fostering economic development. When payments are secure, fast and not reversible in such a large window of time (as in the case of SEPA DD) it will quickly become a preferred payment method for merchants integrating into their accounting functions while removing an additional layer of third parties which can introduce a risk component.

www.epsm.eu 89 3. Results With the information available to you at present, do you see a business case for you offering SEPA Inst (yes/no and why)? (2) - Unknown, because of reliance on local initiatives using SEPA Inst. - Unknown, more information need to be shared on that topic. Still at the very beginning. - No. Without the knowledge of costs and participation of all banks, no business case can be calculated.

www.epsm.eu 90 4. Summary - The rather low response rate suggests that the knowledge about SEPA Inst is still expandable. - Generally, SEPA Inst seems to be attractive for merchants and PSPs. - It is still unclear, how the role of a PSP could look like and how a PSP, which is managing the payments for the merchants at present, could get access to the system. - Uncertainty remains if all European banks will offer SEPA Inst.

www.epsm.eu 91 Thank you very much for your attention!

Lars Tebrügge Consultant to EPSM [email protected] +49 (0) 177 65 60 918 www.epsm.eu 92 Ercan Kilic Abteilungsleiter Mobile Commerce & Finance GS1

Open Forum on Pan-European Instant Payments, 17 April 2018 93 ” … and now, where is the demand side?”

OPEN FORUM on Pan-European Instant Payments Euro Banking Association

Ercan Kilic, Leiter Mobile Commerce & Financial Services GS1 Germany GmbH 17th April 2018 in Frankfurt am Main Agenda

• GS1 Germany • Mobile Instant Payment Survey / Infografic • Standardisation and the HIPPOS-Approach

Everyone is familiar with it. • The GS1 barcode can be found on nearly every retail product. • 5 billion product identification scans are performed each day around the world. • The barcode is one example of how GS1 standards and solutions are paving the way to the digital, globalised world.

GS1 Germany…

• … develops solutions and standards for the challenges of today and tomorrow; for example, for traceability, transparency in the food sector, patient safety and e- commerce. • … is the driving force behind the development and implementation of globally applicable autoID, communication and process standards. • … plays the pivotal role in the interaction between all participants in the supply chain. • … is the catalyst for developing future fields of application. • … is a neutral platform for facilitating collaboration and knowledge sharing.

• Private-sector, not-for-profit company based in Cologne, Germany • 1974: Founded as the "Centrale for Coorganisation" (CCG) • 2005: Renamed GS1 Germany • Managing Director: Thomas Fell • Over 53,000 customers in 2016 • Over 180 employees, over 400 including ownership interests and subsidiaries • Partner: EHI Retail Institute and the German Brands Association (Markenverband) • Core product: The barcode and other globally applicable identification, communication and process standards

Local meets global

International, non-overlapping and industry-independent

• 150 out of more than 190 countries around the world use GS1 standards • over 1 million companies in the GS1 system • 112 member organisations (MO) • GS1 Germany is the second-largest MO • Global Office based in: Brussels • International networking: GS1 in Europe, Consumer Goods Forum, Global Standards Management Process

Survey period July 25th – August 21st 2017

Feedback: • Retail (POS) 45 • Service-Provider (SP) 22 • Bank (BK) 10 • Deutsche Kreditwirtschaft (DK) 4 • Creditcard organisation (n/a) 3 • MNO (Mobile Network Operator) (n/a) 3

Survey is divided into three parts • Cash • Mobile marketing • Mobile payment / SEPA Instant Payments

DL 64% 36%

BK 30% 70%

DK 75% 25%

KO 33% 67% Merchants are HL- 97% experts when it POS 3% comes to SEPA 0% 20% 40% 60% 80% 100% Instant Payments . I have a few experiences on that issue and can answer some question

. I have no experience on SEPA Instant Payments

POS SP BK DK Total

E-Commerce / P2P Omnichannel/E-Commerce 77% 64% 67% 100% 75%

/ POS is giving the P2P Payment (Person 2 Person) 85% 64% 33% 67% 75% highest potential stationary POS 87% 36% 33% 33% 70% Public transport 65% 36% 33% 33% 55%

Ticketing/entrance 58% 36% 0% 33% 50%

Parking 65% 29% 0% 33% 50%

B2B Payment 46% 43% 33% 67% 45%

Messenger/Chat Payment 54% 36% 0% 33% 45%

Digital content (videostreaming / gaming) 54% 29% 0% 33% 45%

Vending machines 46% 29% 0% 33% 40%

Spontaneuous insurances 39% 43% 33% 67% 40%

IoT Payment (Internet of Things) 27% 21% 0% 0% 25%

additional 4% 0% 0% 0% 3%

Direct debit / EC POS SP BK DK Lastschrift will be substituted mainly Direct Debit 1,5 1,9 2,7 1,7 by SEPA IP Credit Cards 2,2 2,4 2,0 2,3

Girocard 2,5 2,1 2,7 3,0

Cash 2,3 2,6 3,0 2,7

Legende 1 Will be superseded by SEPA IP 2 Will be tantamount to SEPA IP 3 More important then SEPA IP

HL-POS DL BK DK

No suprise: Pay in advance 1,3 1,5 1,7 1,0 pay in advance, because SEPA IP Cash on delivery 2,2 2,0 1,0 1,3 will accelerate the delivery processes. Pay by pick-up 2,2 2,1 1,3 2,3 Cash on delivery, because Different online payment solutions 2,2 2,1 2,0 1,7 normaly is paid by cash! Direct-Debit 1,4 1,9 2,7 2,0

Pay by invoice 2,5 2,6 2,3 2,0

Installment 2,6 2,4 2,3 2,3

Creditcard 2,5 2,4 2,3 2,3

Legende 1 Will be superseded by SEPA IP 2 Will be tantamount to SEPA IP 3 More important then SEPA IP

POS SP BK DK Total Cost Less number of chargebacks (direct debit) 91% 79% 67% 67% 85% Cost Costs decreasing (fees, interchange) 91% 43% 67% 33% 75% More interaction in self developed mobile-app 83% 36% 100% 33% 70%

Cost More efficient completion of payment transactions (backoffice) 78% 50% 100% 33% 70% New customer communication, because of mobile device is part of the 70% 50% 67% 33% 65% payment transaction Cost Costreductions because of reduced fraud 74% 43% 100% 33% 65% Cost Costreduction because of provider reducement 74% 21% 67% 67% 60% More possibilities for additional services (couponing, loyalty, etc.) 52% 64% 100% 33% 55% Cost Less Cash-Handling 52% 79% 67% 0% 55% Cost Increasing system-costs (cash-register, card-terminal, Datatransfer etc.) 65% 36% 33% 33% 55% Cost Reducing errors during cutover 70% 29% 33% 0% 55% Costreduction because of reduced effort in the whole payment process 65% 29% 33% 0% 50% Cost (own backoffice) Faster payment process at Point of Sale 44% 21% 33% 0% 35%

Less requirements to securiry 44% 21% 0% 33% 35%

Additional 13% 7% 0% 33% 10%

More turnover per purchase 4% 14% 0% 0% 5%

More customers / more purchases 0% 7% 0% 0% 5%

POS SP BK DK Total

Food retail 86% 50% 67% 0% 70%

Textile 77% 29% 67% 0% 65%

Do-it-yourself (DIY) 82% 29% 67% 0% 65%

Consumer Electronics 68% 36% 100% 67% 60%

B2C / Craft with lower amounts less then 100€ 86% 36% 0% 33% 60% (z.B. hair-stylist, flowers)

Surprise „Deutsche Drugstore 86% 21% 67% 0% 60%

Kreditwirtschaft“ Patrol-stations 82% 29% 33% 0% 60%

Restaurants, Fast Food, Coffee Shops 82% 29% 0% 0% 60%

B2C / Craft with higher amounts more then 100€ -1.000€ ( 64% 36% 33% 67% 55% juwelery, craftsman)

Furniture 59% 29% 33% 67% 50%

Bakery 59% 29% 0% 0% 45%

Kiosk 59% 21% 0% 0% 45%

Additional 14% 7% 0% 0% 11%

No statement can be made 0% 7% 0% 33% 3%

No sector relevant 0% 7% 0% 0% 2%

 Retailers don`t have any Payment issues today

 Focus on digitizing existing processes

 Retailers don`t want to change consumer behavior (cash vs. non- cash payments)

1 SEPA Instant 2019 Payment am POS QI. QII. QIII. QIV. QI.

MIPS HIPPOS

2 2019

“HIPPOS“ QI. QII. QIII. QIV. QI.

Pilot

3 2019 SEPA Instant Payment Pilot QI. QII. QIII. QIV. QI.

payer-bank payee-bank

. Berlin Group 1 2 . Berlin Group . EPC . (EBICS / HBCI)

payer payer

NFC Banks

P2P QR Code

Retail

PISP

Regular transfer of all IBANs / IBAN-ID / Licensenumbers all registered Notification License-Number participants

Sending Check/approval Issuing Licensenumber+ Each Participant is participants documents by GS1 IBAN-ID and transferring into DB Participants running his own reference-list

Payment- Commercial Payment- Decentral Referencelist register ZNB (Lizenzno / IBAN-ID / Network-Provider extract Network-Provider IBAN)

Wallet- Ultimate DezentraleDecentral ReferencelistReferenzliste Wallet-Provider Lizenz- Wallet-Provider ((LizenznoLizenznr // IBAN-ID // beneficial Betreiber IBAN) owner Server (Lizenzno./ DezentraleDecentral ReferencelistReferenzliste PSP IBAN IBAN-ID/ PSP ((LizenznoLizenznr // IBAN-ID // IBAN) IBAN)

DezentraleDecentral ReferencelistReferenzliste Top-Retailer Top-Retailer ((LizenznoLizenznr // IBAN-ID // IBAN)

DezentraleDecentral ReferencelistReferenzliste Banks BankenBanks ((LizenznoLizenznr // IBAN-ID // IBAN)

DezentraleDecentral ReferencelistReferenzliste Tbd. Tbd. ((LizenznoLizenznr // IBAN-ID // IBAN)

payer-bank payee-bank

5 Licenseserver transferring 6 GS1 E2E-ID / Amount

interbanking clearing / settlement PSP / Retailer regular download Transferring payeer-IBAN / „payment made“ to Transferring E2E-ID / 4 amount / E2E-ID to bank POS via E2E-ID 7 2 waiting for Detection IBAN from payment confirmation reference-list via License- number / IBAN-ID / payee- name

decentral reference-list app- provider contains via QR / NFC transmission Licensenumber / amount / licensenumber / IBAN-ID / IBAN / 3 IBAN-ID / E2E-ID payee-name

payer-bank payee-bank

8 9 „payment made“ to app-server via E2E-ID

Transferring payeer-IBAN / amount / E2E-ID to bank bank-interface 7 interbanking Clearing / payee (PSP / Settlement E2E-ID payment processor) Transferring E2E-ID / via QR / NFC transmission waiting for amount / licensenumber / 2 payment confirmation E2E-ID / P2P-Label

short short code code DE12345* DE12345* payer „verbal“ transferring and confirmation payee short-code by visual check 6 transferring IBAN 4 5 Transferring P2P-Label / 3 IBAN / Lizcensenumber

P2P-labeled request / licenseserver licensenumber / P2P-Label App-Server adminstrates App-Server at server payer temporary payee IBAN for *short code = first four, last transaction three digits IBAN

payer-bank payee-bank 6

transferring 7 interbanking clearing / E2E-ID / Amount settlement PSP / merchant „payment made“ to Transferring payeer-IBAN / PSP via E2E-ID 5 amount / E2E-ID to bank 9 „payment made“ to Transferring E2E-ID / shipper / handover 8 2 waiting for payment confirmation

decentral 4 3 reference-list app- 2 provider contains Licensenumber / Detection IBAN from Scan at delivery IBAN-ID / IBAN / reference-list via License- payee-name number / IBAN-ID / payee- name Delivery / Generating Payer decides for QR-Code HIPPOS by shopping at a web-shop

Licensenumber Issuing of an uniqe number per participant. Each participant is identified by GS1 and agrees by that into the terms and conditions of „HIPPOS“

IBAN-ID One Licensenumber could referred to n-IBANs. To each IBAN a unique IBAN-ID is issued. IBAN and IBAN-ID is stored at the Licenseserver.

Server on which Licensenumber / IBAN-IDs are stored. Decentral based Databases are downloading the informations from Licenseserver by Licenseserver regulary intervals.

Accept rules and reglations of „HIPPPS“-Scheme and have to legitimize themselve in advance. Without an approved legitimation no Participant Licensenumber can be issued.

Reference-ID which is unique for each transaction. E2E-Id is an identifier described by SEPA-Regulations and is shown at any point during the E2E-ID transaction flow.

Referencelist List stored at App-Provider (decentral stored informations received from licenseserver)

Following terms applicable at P2P-transactions

P2P-Label To each licensenumber n-P2P-Lables can be issued. Das P2P-Label references to an IBAN, which is stored on the Licenseserver temporarly.

Short-Code First 4, last three digits of IBAN. Die payee-App / payer-App are showing this code. Code has to be confirmed by payer.

SEPA Instant Payment AG-Sitzung - Köln, 14.02.2018

Ercan Kilic Leiter Mobile Commerce & Financial Services GS1 Germany 14.02.2018

Instant Payments Denmark

With MobilePay, sending money is just as easy as sending a text message

. Consumers are ready to use P2P solutions and services . Fragmentation of P2P reach . Lack of interoperability between P2P solutions and networks . “Unified or connected P2P-reach“ as a key indicator for market readiness MP . Connecting all P2P solutions to one P2P- Reach / Network will accelerate the usage of Mobile Payments - transactions will increase rapidly

POS

P2P E-Commerce

. Insufficent interoperability between existing mobile payment-Apps . Limited Use-Cases (P2P or money- transfer) . Chicken-Egg Situation caused an insufficent number of users and acceptance

POS . Initiative brings all relevant stakeholders together

. Creating an independent, open Plus SEPA solution without any barriers Instant . Solving the chicken-egg problem P2P Payments E-Commerce . Over 10 working-group meetings since 2017

. Over 100 participants on average

Ercan Kilic, Leiter Mobile Commerce & Financial Services GS1 Germany GmbH May 29th, 2018 / Cologne

• GS1 Germany likes to invite proven APP-Provider to present their solution Goal • Opportunity for all participants to find a best suitable partner

Costs • Membership of Mobile Commerce Community is required*

• Booth, including chair, table, space for roll-up Benefits for exhibitors • Two participants • 20 minute presentation at the congress area

Limitation • Number of exhibitors is limited to 10

Target group • Participants of the event are banks, retailers, PSPs, terminal suppliers etc.

* Please note attachement „MCC“

May 29th, 2018 . 20 Minute presentation App- GS1 Knowledge Center Cologne, Germany Provider (each) . Panel-Discussion with Banks, Retailer, Service-Provider, POS-Provider, Terminal supplier etc. . Networking

. 300sqm exhibition area . 300sqm conference area . Maximum 10 exhibitors

 29.05.2018 at GS1 Germany in Cologne

 Conference Programm from 09:30 – 18:00

 Elevator Pitch (15 Minutes)

 Panel-Discussions with Banks & Retailers

 10 Partners will present their SEPA IP Solution & Strategies at their Booth

Ercan Kilic Leiter Mobile Commerce & Financial Services

GS1 Germany GmbH Maarweg 133 50825 Cologne

T +49 (0)221 94714 218 F +49 (0)221 94714 7218 M +49 (0)171 561 4484 E [email protected]

www.gs1-germany.de

payer-bank payee-bank

8 9 „payment made“ to app-server via E2E-ID

short short code code DE12345* DE12345* payer „verbal“ transferring and confirmation payee short-code by visual check 6 transferring IBAN 4 5 Transferring P2P-Label / 3 IBAN / Lizcensenumber

P2P-labeled request / licenseserver licensenumber / P2P-Label App-Server adminstrates App-Server at server payer temporary payee IBAN for *short code = first four, last transaction three digits IBAN

© GS1 Germany 2015 44 Moderator: Hansjörg Nymphius, Advisor to the Board, Euro Banking Association Panellists: Boris Jendruschewitz, Lars Tebruegge, Pascal Splitter, Ercan Kilic and Norbert Hambloch PANEL DISCUSSION: “…AND NOW WHERE IS THE DEMAND SIDE?”

Open Forum on Pan-European Instant Payments, 17 April 2018 94 QUESTIONS & ANSWERS

Open Forum on Pan-European Instant Payments, 17 April 2018 95 Hansjörg Nymphius Advisor to the Board Euro Banking Association CLOSING REMARKS

Open Forum on Pan-European Instant Payments, 17 April 2018 96 For any comments or questions, please contact us at [email protected]

Open Forum on Pan-European Instant Payments, 17 April 2018 The forum is an open group, where interested stakeholders can discuss and exchange information on industry-wide topics.

The content of the slides presented and the views expressed in the context of the activities of the forum are those of the respective participants in the forum, and do not represent the views of the Euro Banking Association (EBA).

EBA Informationsveranstaltung Page 1 CUG Wien, 8. Mai 2018