opinion
GDPR took control in 2018, and the time
and financial impact of implementing
GDPR compliance have almost certainly
delayed the advancement of other
areas of hospitality technology. But,
real progress will be made in the fields
of payments and POS; many of which
will have a real impact for smaller
hospitality providers.
Payments - PSD2 Directive
The introduction of The Payment
Services Directive (PSD2), which
was designed to promote payments
innovation, will have both a positive
and negative impact on the sector. The
legislation will encourage open banking,
which is expected to transform banking
into a more flexible network of financial
providers and services.
In 2019 we’re expecting that this
directive will accelerate the faster
payments system in the UK as it
reduces the fees for processing
PSD2 payments. Hopefully, we'll see
it levelling the field for payments,
reducing the cost and allowing
hospitality providers to have
more choice of how they take
payments, as well as encouraging
the integration of technology into
12 KIOSK solutions