Levelling the paying field
1. New European payments regulation has the potential to shake up the banks
shake up : to make important changes in an organization, a profession, etc. in order to make it more efficient 彻底调整；重组（机构、行业等） E.g.The government wanted to reform the institutions, to shake up the country 政府想要实施机构改革，整顿国家。
2. Klarna : is a Swedish e-commerce company that provides payment services for online storefronts. Their core service is to assume stores' claims for payments and handle customer payments, thus eliminating the risk for seller and buyer.
Link:https://en.wikipedia.org/wiki/Klarna
3. mortgage : noun . ( also informal home loan) a legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow 按揭（由银行等提供房产抵押借款）；按揭贷款 E.g. to apply for/take out/pay off a mortgage 申请 / 取得 / 还清抵押贷款
4. predetermine: verb. (formal) to decide sth in advance so that it does not happen by chance 预先决定；事先安排
predetermined : adj. 预设的 E.g. An alarm sounds when the temperature reaches a predetermined level 温度一达到预设的度数，警报就会响起来
5.overdrawn: 【 having taken more money out of your bank account than you have in it 已透支；有透支 E.g. I'm overdrawn by £100 我透支了100英镑
【 with more money taken out than was paid in or left in 被透支的 E.g. 透支的账户
6.interact :to communicate with sb, especially while you work, play or spend time with them 交流；沟通；合作 .E.g Teachers have a limited amount of time to interact with each child. 教师和每个孩子沟通的时间有限。
【派生词】 interaction : noun. ~ (between sb/sth) | ~ (with sb/sth) 互动，相互作用
7. dire adj. [常用于名词前](formal) very serious 极其严重的；危急的 E.g. dire warnings/threats
8. unscathed: adj. [名词前不可用] not hurt 未受伤害；未受伤 【Synonyms 】: unharmed
E.g. The hostages emerged from their ordeal unscathed 各人质历尽磨难后安然生还
9. Fintech companies are beginning to mount a challenge, most conspicuously in the online-payments industry in northern Europe...
mount: [动词 + 名词短语] to organize and begin sth 准备；安排；组织开展 【 synonyms 】: arrange E.g. to mount a protest/campaign/an exhibition 发起抗议 / 运动；举办展览
conspicuous : easy to see or notice; likely to attract attention 易见的；明显的；惹人注意的 【派生词】conspicuously 显著地 E.g. Women were conspicuously absent from the planning committee 引人注意的是，规划委员会里没有一个女性委员
10 sofort : online bank transfer . https://www.sofort.com/eng-INT/buyer/sb/overview/
iDEAL: Online payments service https://www.ideal.nl/en/
11. overwhelming : very great or very strong; so powerful that you cannot resist it or decide how to react 巨大的；压倒性的；无法抗拒的
【派生词】overwhelmingly 压倒地，无法抵抗地 E.g. They voted overwhelmingly against the proposal.他们以压倒多数票反对这项提案。
12. One reason incumbents have proved so resilient is that fintech firms lack the customer-transaction information they need to provide many financial services.
incumbent: a person who has an official position 在职者；现任者 E.g. the present incumbent of the White House 现任美国总统
resilient : able to feel better quickly after sth unpleasant such as shock, injury, etc. 可迅速恢复的；有适应力的 E.g. He'll get over it─young people are amazingly resilient. 他会克服这些的——年轻人的适应力惊人
13 It is often either cumbersome or insecure for customers to share their own information.
cumbersome: difficult to handle or use especially because of size or weight; 麻烦的，冗长的
insecure: not safe or protected 不安全的；无保障的；不牢靠的 E.g. As an artist he was always financially insecure.作为一名艺术家，他在经济上总是没有保障
14. PSD2(Payments services directive2) : PSD2 is the second Payment Services Directive, designed by the countries of the European Union. It could revolutionise the payments industry, affecting everything from the way we pay online, to what information we see when making a payment. (Related links: https://transferwise.com/gb/blog/what-is-psd2)， adopted in 2015
【延伸】来看看PSD2的前身：PSD ：is an EU Directive, administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union(EU) and European Economic Area(EEA). The Directive's purpose was to increase pan-European competition and participation in the payments industry also from non-banks, and to provide for a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users. （Only be applied within the European Economic Area)
https://en.wikipedia.org/wiki/Payment_Services_Directive
15. implement : to make sth that has been officially decided start to happen or be used 使生效；贯彻；执行；实施 【 Synonyms :】 carry out
E.g. to implement changes/decisions/policies/reforms 实行变革；执行决议 / 政策；实施改革
16. due to be : 将定于....
【延伸】With all due respect: used when you are going to disagree, usually quite strongly, with sb （通常在表示强烈不同意之前说）恕我直言 E.g. With all due respect, the figures simply do not support you on this 恕我直言，这些数字根本不能支持你的观点。
17. kick-start : to do sth to help a process or project start more quickly 促使…开始；使（项目）尽快启动 E.g. The government's attempt to kick-start the economy has failed 政府刺激经济的努力失败了
18. Provided the customer has given explicit consent, banks wil be forced to share customer-account information with licensed financial-services providers.如果客户已明确同意，银行将不得不与特许金融服务商分享客户信息。
explicit ：adj. saying sth clearly, exactly and openly （说话）清晰的，明确的；直言的；坦率的 【Synonyms】 frank E.g. She was quite explicit about why she had left.她对自己离开的原因直言不讳
consent:noun. permission to do sth, especially given by sb in authority 同意；准许；允许 E.g. The written consent of a parent is required. 要求有家长的书面同意.
19. They could become more integrated into the internet-browsing experience-enabling, for example,one-click bank transfers, at least for low-value payments.
the internet-browsing experience-enabling: 互联网浏览体验启用
Browse: verb ** (computing 计) to look for information on a computer, especially on the Internet （在计算机，尤指互联网上）搜寻信息，浏览信息
** to look at a lot of things in a shop/store rather than looking for one particular thing （在商店里）随便看看 E.g.You are welcome to come in and browse. 欢迎您光临本店随便看看
【派生词】browse :noun E.g. The gift shop is well worth a browse 这家礼品店值得一看
20. tighten up : to make sth become stricter 使更加严格；加强 E.g. to tighten security加强安全措施。 【antonym】loosen
21. sophisticated : adj 文中参考第一种解释
** having a lot of experience of the world and knowing about fashion, culture and other things that people think are socially important 见多识广的；老练的；见过世面的(compare naive
** (of a machine, system, etc. 机器、体系等) clever and complicated in the way that it works or is presented 复杂巧妙的；先进的；精密的
**(of a person 人) able to understand difficult or complicated ideas 水平高的；在行的 E.g. a sophisticated audience 有鉴赏力的观众
22. rock-bottom : (informal) the lowest point or level that is possible 最低点；最低水平
E.g. Prices hit rock bottom 价格降到了最低点。
23.Deloitte: is a UK-incorporated multinationalprofessional services firm with operational headquarters in New York City in the United States. Deloitte is one of the "Big Four" accounting firms and the largestprofessional services networkin the world by revenue and number of professionals. Deloitte provides audit,tax,consulting,enterprise risk and financial advisory services with more than 244,400 professionals globally.
More infomation link to :https://en.wikipedia.org/wiki/Deloitte
24. Banks' lockhold on payments serves as a handy source of income, earning European banks €128bn in 2015, around a quarter of retail banking revenue. 牢牢把控
25.dumb pipes: refers to a network that is used simply to transfer bytes between the customer's device and the Internet, while being completely neutral with regard to the services and applications the customer accesses, it primarily provides simple bandwidth and network speed.(相对于smart pipe ). 术语哑通道是指简单地用于在客户设备和因特网之间传输字节的网络，而完全中立于客户的访问和应用程序，它主要提供简单的宽带和网络速度。
26. Perhaps predictably, resistance is manifested as a concern about data protection: more then half of respondents to the PWC survey voiced concerns about security and liability.
manifest: to show sth clearly, especially a feeling, an attitude or a quality 表明，清楚显示（尤指情感、态度或品质）【synonyms】demonstrate. Eg.Social tensions were manifested in the recent political crisis.最近的政治危机显示了社会关系的紧张
liability: 累赘；负累；负担 If you say that someone or something is a liability, you mean that they cause a lot of problems or embarrassment.
27. legitimate: for which there is a fair and acceptable reason 正当合理的；合情合理的 【Synonyms】 valid, justifiable E.g.It seemed a perfectly legitimate question 这似乎是完全合乎情理的问题。
28.block competition 阻碍竞争
29. robust: 强健的;健壮的;坚固的;结实的 Someone or something that is robust is very strong or healthy. E.g. We've always specialised in making very robust, simply designed machinery. 我们一直专注于制造极为结实耐用而且设计简单的机器
30...As they are also required to be insured against losses from fraud, they will need to convince insurers,too. 投保欺诈损失
31.They will not be subject to the same capital and stress-testing requirement banks face: but nor will they be licensed to undertake the riskier business or lending.他们不会受到银行面临的相同的资本和压力测试要求, 但他们也不会被许可进行风险较高的业务或贷款。
32. perfect on paper : 完美的纸上方案
33. As implementation approaches, the rules will be watered down,.作为执行方案，规则将会被放缓。
water down : 使(提议、演讲、声明等)语气缓和;使打折扣;削弱 If something such as a proposal, speech, or statement is watered down, it is made much weaker and less forceful, or less likely to make people angry. E.g.Proposed legislation affecting bird-keepers has been watered down 影响养鸟者的立法提案的措词已经缓和一些了
34. subjective : based on your own ideas or opinions rather than facts and therefore sometimes unfair 主观的（非客观的） Subjectively : 主观地
35.bared their teeth : 露出獠牙
36 Last year German competition authorities,citing the changes proposed in PSD2, ruled that banks were illegally restricting customers' online-banking activities. 去年德国竞争当局，引用PSD2中提议的变化，规定说银行限制客户网上银行活动的行为是不合法的。
cite: to speak or write the exact words from a book, an author, etc. 引用；引述；援引 【synonyms:】quote
37. Santander's British arm, for instance, has teamed up with Kabbage, an American startup, to offer small companies working-capital loans. 运营资金贷款
team up : to put two or more people or things together in order to do sth or to achieve a particular effect 使互相配合；协作；合作
40 . Familiarity,huge customer bases and low funding costs are all attributes entrants want to gain by association, just as banks want to exploit newcomers' technology. 熟识，庞大的客户群和低资金成本上是新来者通过联合想获得的所有属性，就像银行想利用新来者的技术一样。
attributes: noun. a quality or feature of sb/sth 属性；性质；特征 E.g Patience is one of the most important attributes in a teacher.耐心是教师最重要的品质之一
entrants: a person who has recently joined a profession, university, etc. 新职员；新生；新会员；新成员
exploit:to treat a person or situation as an opportunity to gain an advantage for yourself 利用（…为自己谋利）E.g. He exploited his father's name to get himself a job.他利用他父亲的名声为自己找到一份工作
41. confrontation: ~ (with sb) | ~ (between A and B) a situation in which there is an angry disagreement between people or groups who have different opinions 对抗；对峙；冲突
E.g. confrontation between employers and unions 资方与工会之间的对峙
