Innovation in mobile and electronic payments

Secure and efficient payments are a cornerstone in the success of the Single Market. While innovation brings more efficiency, there are security, consumer protection and competition issues to be addressed.

On January 31st, ECRI and CEPS co-hosted an event to discuss the future of innovative card, internet and mobile payments. Being one of the first events since the launch of the consultation Green Paper by the European Commission on the integrated European payment markets, the discussion was opened by Gerd Heinen (DG MARKT) and Rita Wezenbeek (DG COMP), who underlined that the consultation is an opening for interactive discussions with different stakeholders about how to develop the payment markets. Thomas Lammer from the ECB demonstrated the balancing acts that have to be performed in the progress towards more innovative and efficient payments. After the panellists representing Ericsson Money and MasterCard presented some industry concerns, the panel agreed that a more integrated approach to promoting innovation and efficiency in payments is called for.