Review of developments in payment systems 2010: Future of payment systems

Over the next decade more outdated payment systems, particularly in SEPA, will be terminated, mobile phones will become increasingly important for initiating, authorizing and making payments, and will also be used by governments to deliver welfare benefits to the excluded and unbanked, and the new PSD infrastructure in Europe plus pressure from government and regulatory authorities will make it easier and more cost-effective for new payment services to be delivered by combinations of non-banks.