Tom Greenwood
VOLT FOUNDER AND CEO Possessing a drive to continue innovating , Greenwood had been studying the revised Payment Services Directive ( PSD2 ) – which , back in 2018 , established Open Banking as a regulatory requirement for financial institutions , marking the dawn of data sharing and payments between banks and authorised third-party providers .
“ After reading about open banking in PSD2 , I knew that real-time accountto-account payments could be hugely disruptive to the Visa and Mastercard duopoly ,” Greenwood says .“ It gave me an idea that , ultimately , I couldn ’ t let go of .”
In the end , following his calling for further innovation , Greenwood parted ways with
Why are we still using an alien card object , and an overseas scheme , to move money across five intermediaries ?
TOM GREENWOOD FOUNDER & CEO VOLT
46 September 2023