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Does the EU need to build its own payment system?

Day 2 Afternoon

Thursday 10 September

Room :



Denis Beau
First Deputy Governor, Banque de France
Public Authorities
Burkhard Balz
Member of the Executive Board, Deutsche Bundesbank
Päivi Heikkinen
Head of Payment Systems Department, Bank of Finland
Martin Merlin
Director, Banks Insurance and Financial Crime, DG FISMA, European Commission - DG FISMA
Stéphanie Yon-Courtin
Vice-Chair & MEP, European Parliament - ECON
Industry Representatives
Regis Folbaum
Head of Payments & Data, La Banque Postale
Joachim Schmalzl
Executive Member of the Board, Deutscher Sparkassen- und Giroverband (DSGV)

Objectives of the session

In terms of payments, EU policy objectives in the area are varied and may appear contradictory: best in class level of customer convenience of retail payments, effective privacy, need to update existing payment infrastructures, need to clarify the liabilities held by the different participants in the value chain, need to address increasing cyber risk, deliver cost efficient payments and a high level of operational resilience, need to achieve an effective (operational, data protection, monetary…) sovereignty in the EU, develop the competitiveness of EU players at the EU and global levels, …

By clarifying this complex context, the session will try to find out whether the EU needs to build its own retail payment system and find out what would be a consistent set of policy objectives and subsequent priorities.

Points of discussion

What are the main challenges raised in the EU retail payment area, by technology and digitalisation, the dominant position of BigTechs and the development of globalisation?

What should be the main policy objectives and initiatives, required to face up these challenges and address the main priorities for developing the EU internal market for retail payments? What is expected in this respect from an EU retail payment system?