How European institutions can further increase their presence in the payments market
Eric Bierry, Deputy CEO of Sopra Banking Software, speaks to FinextraTV in the lead-up to EBAday 2021 about the evolution of the European Payments Market. We hear how the European institutions can further increase their presence in the market, how Sopra Banking Software can help banks to answer the challenges presented along the way, and how they support their European customers.
PayTech Impact EU
Wprowadzenie:
„PayTech Impact.EU Study: The future of open banking in Europe from the perspective of providers and customers”
Prof. Michał Polasik – profesor UMK
Dominik Sadłakowski – UMK
Natalia Tetkowska – UMK
Krzysztof Korus – DLK Legal
PayTech Impact.EU
Moderator: prof. Michał Polasik – Uniwersytet Mikołaja Kopernika w Toruniu
Krzysztof Korus – DLK Legal
Zaproszeni:
Ceu Pereira – Team leader, Retail payments at European Commission
Gijs Boudewijn – Vice-Chair Payment Systems Committee European Banking Federation
Joanna Erdman – Director, Strategic Projects, Mass/Young Customers and Transactional Banking, mBank
Arturo González Mac Dowell – President & CEO, Eurobits Technologies
Trisham Chundunsing – Senior Manager, Public Policy Payments/Financial Services at Amazon Europe
Tomasz Owczarek – Head of Sales and Strategy, Mastercard
Konrad Ślusarczyk – Senior Policy Lead, Visa Europe
Replay: Focus on Payments
Thibault de Barsy, General Manager of the Emerging Payments Association EU, started proceedings with an overview of a recent study on the trends in European payments.
Lessons learned include that while regulation does cover the entire European Single Market, payment behaviours and preferences still differ largely within individual countries and regions. Overall, cash is being replaced by debit and credit cards, which are in turn being replaced by e-wallets and digital currencies. While the US and China offer plenty of innovative approaches, Europe’s diverse landscape has led to different examples of best practice all over the continent.
Simon Black, CEO of PPRO, covered some of the impacts that COVID-19 has had on the payments industry: a large increase of smaller merchants, and customer behaviour pivoting to online purchases in a way that will likely remain beyond this crisis. There is a crucial need for strong cybersecurity and IT investments in the payments industry, according to Simon.
Karen O’Sullivan, Head of Innovation, Payments, Market Infrastructures and Governance at the CSSF, gave a wide-ranging overview of upcoming regulatory topics, including everything from the level of harmonisation within the EU for PSD2 to the upcoming regulatory changes on virtual assets. She also had a positive prediction for the market: no new legislation – only amendments to fit new technologies.
Live polls taken during the event showed that for most people, harmonisation is still a work in progress, with the majority of audience participants believing it will take over 5 years before there is a single European payments market.
A lively Q &A session with the audience ended the event, covering everything from views on the European Payments Initiative, consequences of the rise of deferred payments schemes, and the panellists personal favourite payment methods.
Instant payments: Forcing a breakthrough in European market integration?
FinextraTV: How European institutions can further increase their presence in the payments market
Eric Bierry, Deputy CEO of Sopra Banking Software, speaks to FinextraTV in the lead-up to EBAday 2021 about the evolution of the European Payments Market. We hear how the European institutions can further increase their presence in the market, how Sopra Banking Software can help banks to answer the challenges presented along the way, and how they support their European customers.
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