Things are moving fast in this age of digital transformation, and they are set to move even faster in the coming years. Customers decide whether or not to work with you in the blink of an eye. In two-sided markets, there is a noticeable shift away from the ‘winner takes all’ approach, and towards a collaborative ecosystem in which a shared vision and co-creation result in faster adoption and future success.
If you want to continuously optimise your performance in this new, digitising world, you will increasingly be required to collaborate with other organisations in your ecosystem – and perhaps even with competitors and/or organisations in other ecosystems – to create additional value for the market and hence to increase everyone’s ‘piece of the pie’.
This approach can benefit from a scheme based on shared agreements with all those other organisations about things like how to improve usability, simplify onboarding, give access to each other’s data and so on. These agreements form the foundation for relevancy and future growth without impacting on the individual competitive value propositions. Examples of such schemes include GSM for international telecommunications, Maestro for debit payments, and the Dutch iDEAL scheme for online payments.
INNOPAY has experience in the creation of schemes
INNOPAY has a rich history and extensive expertise in the development of schemes. The key to our success in creating schemes is our inclusive approach. We not only make sure that a scheme covers all the relevant topics, but we also ensure that it is supported by key market players by focusing on co-creation: for the market, by the market.
INNOPAY has supported the development of schemes such as:
- iDEAL: a scheme used for online banking payments in the Netherlands. iDEAL enables consumers to pay online through their own bank easily, reliably and securely. INNOPAY was involved in the initial development of iDEAL and had a supporting role for governance of the iDEAL scheme.
- TrustID: a framework for digital identity services in Australia. TrustID allows participating organisations to securely accept an end user’s reusable verified identity. This enables individuals to seamlessly access services requiring registration, without the need to redistribute sensitive personal information. INNOPAY was involved in forming the TrustID vision and developing the framework.
- iSHARE: a generic scheme for identification, authentication and authorization, originally developed for the Dutch logistics sector. iSHARE is a uniform set of agreements that enables organisations to grant each other access to their data in a standardised way. INNOPAY was involved in forming the iSHARE vision, developing the framework of agreements and providing implementation support to participants.
Interested to learn more about scheme co-creation and collaboration? Get in touch with us!
