I am not a lawyer and I don’t operate in EU zone. My comments are based on my experience and understanding about FinTech
Going by the argument that Amex is used as a payment system and not a merchant,
A lot of fact checks need to be done. First - EU never made a Payments LAW / Regulation. What EU did is create a Directive.
A directive is NOT a law but a governance schemes that It wants all member states to abide but it is NOT a Law.
EU proposed the directives and UK agreed to add it to its law and thus the law was made called as Payment Services Regulations 2017 which come into UK law from 13 January 2018.
PSR 2017 is governed by Payment Systems Regulator (PSR) which is a UK statutory body under the treasury. PSR does not consider Amex as a payment system as of today.
For schemes covered by the new regulations, we will enforce the requirements on the schemes and banks to treat PSPs’ access requests in a proportionate, objective and non-discriminatory way (POND), and not to restrict access any more than necessary to safeguard against risks to the scheme/bank or the financial system. Payment system operators and banks can still choose which organisations they will provide access to, but they must consider each request on its own merits.
Also, the payment system can reject any request which it deems to pose a risk.
Essentially, IMHO (i may be wrong) - its a difficult ask for Curve to force Amex.
Regardless, Let’s wait for Shachar’s blog post. He assured a post today (via Twitter) but its already midnight. I am still hoping it will not end up as just another promise that’s not adhered to.
I rest my case.