Assessing the development of the European retail payments market from a historical perspective received

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Title: Assessing the development of the European retail payments market from a historical perspective received
Author: Kemppainen, Kari
Series: Journal of Payments Strategy & Systems
Series volume: 13
Series number: 4 (Winter 2020)
Year of publication: 2020
Publication date: 15.1.2020
Pages: 352-356
Keywords: digitalisaatio; vähittäismaksut; maksut; sääntely; Eurooppa
Other keywords: Digitalisation; Europe; Network economics; Regulation; Retail payments
Abstract: Changing consumer expectations are shaping the retail payments market at the global level. Within the European Union, the renewed regulatory framework, the revised Payment Services Directive, gives a further boost by fostering innovation and com-petition in the European retail payments market. In this evolving payment landscape, assessing the current state and forecasting potential development paths may benefit from a look at the past.This paper reviews past developments, discusses potential regulatory implications, and outlines a vision of future developments in the European retail payments market. It concludes that an evolutionary path is more likely than a revolutionary one. Regarding the future regulatory framework for retail payments, it proposes that the movement from entity-based towards more activity-based regulation should be continued.
Link: https://www.ingentaconnect.com/content/hsp/jpss/2020/00000013/00000004/art00008


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