Retail payment strategies: The approach in Portugal compared with the European Commission and the Eurosystem

Rui Pimentel
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Rui Pimentel: Head of Unit, Payment Systems Department at Central Bank of Portugal, Portugal

Journal of Payments Strategy & Systems, 2022, vol. 16, issue 1, 86-94

Abstract: In November 2020, the Portuguese Payment Systems Forum issued the Portuguese Retail Payments Strategy | Horizon 2022. The strategy has been formulated to support the implementation of secure, efficient and innovative payment solutions, while promoting broad accessibility to retail payment services. As this paper will discuss, the strategy envisions 42 initiatives for stakeholders in the payments market. These initiatives fall under four pillars: (1) ensuring consumers are better informed about the payment instruments available to them; (2) fostering the benefits of digital transformation; (3) contributing to a regulatory framework that promotes innovation and efficiency; and (4) driving the adoption of safer payment solutions. This paper describes key initiatives under these pillars, and reports on how the strategy is progressing towards its goals.

Keywords: payments; strategy; Portugal; Europe; COVID-19; innovation (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2022
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