About the EU payment strategy for the future

A few notes from the virtual EBF INNOVATION & CYBER

Payment Instruments:

• The Instant Payments are the flagship of the strategy as they are the common denominator to 90% of the strategy
• Cash vs digital: objective is to keep cash available, accessible and usable

Markets:

• From PSD2 to beyond financial services -> a PSD2 applied to other industries
• Supervision: adjust supervision to new financial landscape -> Fintech start-ups scaling and becoming a Bigtech require specific supervision

Infrastructure:

• Open, accessible, interoperable
• Incomplete elements to reinforce Inst Pay in EU
• Non bank PSP access (level playing issue)
• NFC facilities (access reservation of proprietaries part) to be looked up
• Improve quality remittance

EPI Payment:

• Interim company to be set up in Belgium (note: at that time was not done yet)
• Target company to be set up after 6–9 months
• Objective first period during interim:
• Finalise scheme rules, technical standards, commercial franchise, branding, business case/model
• Roadmap:
• End of 2021 — Technical pilot
• Beginning of 2022 — MVP
• 2022 — roll-out EPI