Standardisation: A conditio sine qua non for efficient payment services

Gerard Hartsink
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Gerard Hartsink: Chairman, Global Legal Entity Identifier Foundation, Switzerland

Journal of Payments Strategy & Systems, 2014, vol. 8, issue 1, 23-29

Abstract: Standardisation is an essential condition for delivering cost-effective, secure and easy to use payment services to customers. The cost of retail payments instruments in Europe are about 1 per cent of GDP. The globalisation of trade and the development of e-commerce require that national approaches to legal and technical standards should no longer be supported by policy makers and market participants (suppliers and buyers).

Keywords: retail payments; legal standards; technical standards; ISO 20022; ISO TC 68; EMV; SEPA; Rulebook (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2014
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