The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

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Over the next decade more outdated payment systems, particularly in SEPA, will be terminated, mobile phones will become increasingly important for initiating, authorizing and making payments,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.

Major developments in payment systems lie ahead. Dave Birch from Consult Hyperion in the UK says, "I can detect a growing mood in favour of a return to community-based banking and other financial services, a return to a kind of social enterprise. This may spill over into payments as well, and the experiments that we see all around us in local, alternative and community currencies (such as the Brixton pound in London) might transmute through the use of easily accessed technology into a genuinely new phenomenon that will take us into uncharted waters."  

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree