EPC Newsletter (issue 26): trends expected to shape the future of paym...

EPC Newsletter (issue 26): trends expected to shape the future of payments in Europe and other regions around the globe.

27 April 15

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The latest edition of the Newsletter (see ‘related links’ below), published quarterly by the European Payments Council ( ), takes a closer look at trends expected to shape the future of payments in Europe and other regions around the globe.

  • The is ready and looks forward to making the next steps in the process in close dialogue with all stakeholders. Chair Javier Santamaría reiterates key features of the new governance model, which became operational in April 2015. 
  • Emanuela Cerrato and Francisco Tur Hartmann of the European Central Bank point out that no solution for instant payments in euro has actually been deployed at Europe-wide level. Work is now progressing towards the goal of at least one such solution, as advocated by the Euro Retail Payments Board. 
  • Connie Theien of the Federal Reserve System outlines a multi-faceted plan to enhance the speed, safety and efficiency of the U.S. payment system.
  • Chris Hamilton of the Australian Payments Clearing Association introduces Australia’s New Payments Platform.
  • This edition reports on Ripple, the first open-standard, internet protocol based technology for payment service providers ( ) to clear and settle transactions in real-time via a distributed network and highlights possible applications of blockchain technology by the banking industry.
  • Cyber security is a precondition to promoting innovation also in the area of payments in the European Union ( ). Udo Helmbrecht of the ’s Agency for Network and Information Security (ENISA) describes key ENISA initiatives to secure the ’s cyber space.
  • On 10 March 2015, the , together with the Cards Stakeholders Group (CSG), published version 7.05 of the Cards Standardisation Volume for public consultation. CSG Co-Chair Claude Brun invites all stakeholders to provide feedback by 5 June 2015.
  • Last but not least: Jean-Yves Jacquelin, a banker with more than 30 years of experience in payments, comments on new opportunities for account-servicing : “The changing payments landscape impacts the needs of account-holding customers. Banks that re-define their role as account-servicing in the digital age are uniquely positioned to meet those needs. Notions, articulated by some, anticipating the imminent demise of ‘traditional’ banks offering payment services are therefore premature.” The belief that only ‘new’ players would command innovative capability or could design competitive payment initiation and account information services, he says, is ‘old school’.

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