Technology providers in the payment sector: market and regulatory developments

Emanuela Cerrato (), Enrica Detto (), Daniele Natalizi (), Federico Semorile () and Fabio Zuffranieri ()
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Emanuela Cerrato: Bank of Italy
Enrica Detto: Bank of Italy
Daniele Natalizi: Bank of Italy
Federico Semorile: Bank of Italy
Fabio Zuffranieri: Bank of Italy

No 47, Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) from Bank of Italy, Directorate General for Markets and Payment System

Abstract: Technology providers have taken on the crucial role in supporting the financial sector, enabling firms – even small ones – to become more efficient and keep pace with innovation. Yet, the interdependencies between such providers and financial entities may pose new systemic risks, deserving the attention of financial regulators and overseers. This paper presents the authorities’ point of view, focusing on the payments sector; it demonstrates how numerous initiatives at international and national level have made a consistent and dynamic effort to create a regulatory and policy framework aimed at balancing security with innovation.

Keywords: payment system; market infrastructure; third parties; digital operational resilience; DORA; regulation; oversight (search for similar items in EconPapers)
JEL-codes: E42 G32 G38 O33 (search for similar items in EconPapers)
Date: 2024-03
New Economics Papers: this item is included in nep-ban, nep-pay, nep-reg and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wpmisp:mip_047_24

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