Michael Steinbach
Michael Steinbach (1961) has been CEO of Equens since 1 January 2012. Prior to this, he held the position of Chairman of the Equens Board of Directors as from 1 May 2007. Before he was appointed Chairman, he was Deputy Chairman, a position he held from the incorporation of Equens on 30 November 2006. From July 2003, Michael was spokesman of the Board of Directors of Transaktionsinstitut für Zahlungsverkehrsdienstleistungen. During his career, Michael has gained extensive payments expertiseMichael Steinbach is a member of many national and international payment committees.

All articles by: Michael Steinbach

‘Why are there no European companies competing in the battle for global payment solutions?’

Europe is largely dependent on non-European systems, such as PayPal, for cross-border (card) payments. The reason for this is that there is still no European payment system for the whole continent, partly because European banks mainly focus on serving their national markets. In the development of new payment services, this must change, says Yves Mersch, […]

Investments for Instant Payments will make payments as convenient and easy as possible

The introduction of instant payments, real-time payments, will lead to a huge upheaval. That is what I predicted in a recent article in the German newspaper Börsen-Zeitung. Instant Payments are a hot topic and there is a reason for that. The estimated investments are higher than the introduction of the euro, which I explained in […]

Instant Payments will have a bigger impact than the introduction of the euro or even SEPA

Recently I had an interview with Finextra about Instant Payments, the impact of its implementation and the related challenges and solution options for banks. In this blog, I’d like to elaborate on these same topics. I also invite you to watch the video interview on Finextra. The payments industry is currently an exciting place to […]

The payments industry needs to close the gap between user experience and payment options

Even if you’re number one, you have to think like number two. Market leaders simply can’t stop and enjoy their lead, because the competition is keen to take their spot at the top. This also applies to companies in the payments industry: market leaders must continue to innovate in order to maintain the largest market […]

Should the old and new worlds compete or cooperate?

To compete or to cooperate? That is the main question of these challenging times for banks and fintechs, where innovation is constantly and radically reshaping the payments industry. It seems that the market is roughly divided by the two forces, but I think that a change of scope is needed to answer the first question. […]

Defending the B2C segment in a virtual world

In my previous blog, I spoke about the opportunities SEPA offers to the traditional payment world by joining forces and staying ahead of new market entrants like non and near banks and social media networks. One example I gave in this respect is real-time payments. Action is needed, especially because the main threat for the traditional […]

New scoring opportunities with SEPA

It’s a well-known phenomenon: when people move to a new house, they arrange it according to their plans, but there always remain finishing touches to be done. Lighting, rearranging cupboards, boxes that need to be unpacked, but disappear to the attic. The same risk applies to SEPA. To the outside world it looks like SEPA […]

European Union Regulatory Initiatives Impacting the Security of Euro Payments: the 2015 Outlook

This is a guest bog post from Javier Santamaría, Chair of the European Payments Council (EPC). Regulatory action rolling out in 2015 will determine the foreseeable future with regard to the security of payments in Europe. The European Commission published its proposal for the revised Payment Services Directive (PSD2) on 24 July 2013. This draft […]

Payments 3.0: making the transition

The fast growth of e- and m-commerce is causing a fundamental change in the payments industry. Because the end-user is now the primary focus, payment transactions in themselves are becoming a ‘secondary priority’. Convenience and ease-of-use are the ultimate goal. This has led to a change in the traditional business model for the payments industry, […]

The end of the beginning for SEPA

This article has been published in the magazine Future Banking, a print version of the website Banking Gateway. Karin Flinspach, EMEA Head Payments and Receivables at Citi, and Equens CEO Michael Steinbach elaborate on the migration process to SEPA.  With fixed dates for SEPA migration and compliance, the European Parliament has created clarity, a sense of […]