Communication on a Retail Payments Strategy for the EU

Summary:

Communication adopted by the European Commission on 24 September 2020, setting out a new strategy for the market of retail payment services.

Further information:

This strategy aims to take full advantage of the benefits of innovation and opportunities that come with digitalisation. It focuses on creating the conditions that make it possible to develop instant payments and EU-wide payment solutions that are cost effective and accessible to individuals and businesses across the European Union. It also places consumer protection at the heart of policy so that payment solutions have their risks monitored and mitigated effectively. The Commission also wishes to lessen dependency on big global players.

The Strategy was published by the European Commission on 24 September 2020, as part of package of initiatives relating to digital finance.

Official

European Commission: Payment Services https://ec.europa.eu/info/business-economy-euro/banking-and-finance/consumer-finance-and-payments/payment-services/payment-services_en

European Parliament: Legislative Train Schedule: Renewed Strategy for Modern and Safe Retail Payments https://www.europarl.europa.eu/legislative-train/theme-a-europe-fit-for-the-digital-age/file-retail-digital-payments/02-2021

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Commentary and Analysis

European Payments Council: News & Insights, 22/10/2020: The new Retail Payments Strategy for the EU https://www.europeanpaymentscouncil.eu/news-insights/insight/new-retail-payments-strategy-eu

CORE: Techmonitor, 23/10/2020: The Retail Payments Strategy of the EU Commission https://core.se/techmonitor/the-retail-payments-strategy-of-the-eu-commission

CEPS: Webinar, 19/11/2020: Will the EU Retail Payments Strategy trigger a paradigm shift? (via Youtube) https://www.youtube.com/watch?v=tfDYSP7I6Qk&ab_channel=CEPSThinkTank

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