Stevie's time has passed
So Stevie's problem is that if all the banks expose a standard API, there is no reason for his app to exist. Sorry Stevie.
Oh, and I am in this business, and it is looking like the banks will not be dis-intermediated by this as described. It's worse. They'll lose the piles of cash they've made by controlling the channel. And if that happens, then someone else will need to pay. Probably us.
Then people will see that push payments are intrinsically safer, and therefore less risky, and therefore cheaper, than pull payments. Cue Visa and Mastercard's business exiting stage left, followed swiftly by all those payment providers and probably a bunch of banks. Part of me is pleased.
Biting the hand that feeds IT
