European payments regulation: State of play at the start of the new decade

Diederik Bruggink
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Diederik Bruggink: Head of Innovation and Payments at ESBG, World Savings and Retail Banking Institute, Belgium

Journal of Payments Strategy & Systems, 2020, vol. 14, issue 1, 32-39

Abstract: This paper addresses at high level, a selection of regulatory developments and expectations that will drive the agenda for payment service providers at the start of the new decade. More specifically, the paper will cover European sovereignty in payments, instant payments, the Interchange Fee Regulation, the cross-border payments regulation and VAT reporting requirements, while also commenting on the topic of cash. With respect to instant payments, the question is not if the European payments industry will move to instant payments but when. In the short term, the industry will have to work on increasing adherence levels and reachability rates. The latter can best be achieved by ensuring interoperability between clearing and settlement mechanisms. In parallel, the industry will have to develop end-user solutions based on instant payments that are attractive for all involved.

Keywords: European sovereignty in payments; instant payments; Interchange Fee Regulation; cross-border payments regulation; VAT reporting requirements; cash; access to cash (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2020:v:14:i:1:p:32-39

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