The European payments market is undergoing significant changes, driven by digitalization, declining cash usage, increasing payment fraud, and geopolitical tensions. These developments create both real and perceived risks, to which the European Union is responding with new regulations, such as the EU Payment Services Regulation and the Instant Payments Regulation. These measures aim to combat fraud, protect consumers, and ensure financial inclusion. Additionally, the EU is exploring the introduction of a digital euro as a backup for payment systems and a counterbalance to foreign digital currencies.
In this article (published in the Journal of Payments Strategy & Systems), Emanuel van Praag discusses how these regulations will impact the investment and development agenda of payment service providers and the commercial opportunities and risks they entail.
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