Decreasing Europe’s reliance on foreign payment schemes has been a key objective of regional legislators for some time. Indeed, the sovereignty of Europe’s payment systems – namely its reliance on international card schemes and a small number of non-European payment solutions and technologies – is one of the core issues in the European Central Bank’s retail payment strategy.
“A solution lies in combining instant payments with open banking to deliver a home-grown, pan-European payment method that poses a genuine threat to the card schemes,” says Todd Clyde, chief executive of Token.io.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
