ECRI Newsletter: Winter 2020

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Roeland van der Stappen, Ana Climente, Thierry Antonin, Jean Allix

Retail payments are at the forefront of the digital transformation of financial services. Changing payment-processing interfaces, the introduction of crypto-assets and more recently, new payment instruments, are all shifting the traditionally cash-dominated retail payment landscape.

In September, the European Commission published a Communication on a Retail Payments Strategy for the EU in response. In the strategy, the Commission puts forward a vision for European retail payments: i) a broad and diverse range of high-quality payment solutions for citizens and businesses; ii) availability of competitive home-grown, pan- European payment solutions; and, iii) cross-border payments with third countries.

On 19 November 2020, CEPS and ECRI organized a webinar with key stakeholders involved in the payment sectors to discuss the Retail Payments Strategy. Amongst the issues discussed were to what extent is the strategy setting the right priorities and objectives for a future-proof EU retail payments market and if the key actions to reach the objectives are fit for purpose.

This newsletter covers a series of contributions from the speakers on the Retail Payments Strategy.