When you pay by card today, part of the transaction goes through a global card company. Open banking technology, however, enables a different model – sending money directly from the customer’s account to the merchant’s account. What does this mean for merchants, banks, card companies, and us as customers?
The payments market is undergoing changes. New technologies enable fast and cheaper money transfers, while European legislation is gradually changing the rules for banks and creating conditions for greater competition in payment services and Europe’s economic independence.
Up to 25 billion Czech crowns a year. That is how much Czech shops and businesses pay in card payment fees. A large proportion of that money leaves the Czech Republic. Mo-one is building payments so that this money stays in the Czech economy.
At the next Venture Club themed evening, we will explore the future of the payments market and direct A2A (Account-to-Account) payment technology , which offers an alternative to traditional card transactions.
A concrete example will be the Czech fintech project Mo.one , which is building a payment ecosystem based on open banking. Its aim is to enable fast payments directly between accounts, reduce costs for merchants and bank customers, and offer convenient and rewarding ways to pay.
Guests of the evening
Miroslav Pekárek – co-founder of Mo.one
An entrepreneur and payment technology expert with more than 30 years of experience. He helped launch the Mo.one project and has long been involved in innovation in payment services.
Romana Křížová – entrepreneur, investor, and Venture Club member
The owner of the Business Friends business network, who is involved in the Mo.one project as a franchise partner and is now part of the company’s middle management. She will explain what attracted her to this business model and what opportunities she sees in it.
What will we discuss?
- How do direct account-to-account payments work, and how do they differ from card payments?
- How much can merchants save thanks to new payment technologies?
- How is European legislation changing the rules of the payments market, and what new obligations does it introduce for banks?
- Can direct payments compete with established card companies?
- What obstacles stand in the way of wider adoption of direct payments, and what new business opportunities are emerging?
The evening will include time for questions, open discussion, and informal networking among Venture Club members and guests.
Registration for the event will open soon, so save the date in your calendar.