Exploring the future of crypto payments: insights from Thibault de Barsy of The Payments Association EU

Thursday 19 January 2023 10:41 CET | Editor: Mirela Ciobanu | Interview

As the adoption of cryptocurrency in the payments industry continues to grow, many consumers, merchants, banks, payment service providers, and regulators are grappling with the question of whether to adopt these new technologies.


In an exclusive interview with The Paypers, Thibault de Barsy, Vice-Chairman & General Manager at The Payments Association EU, shares his insights on the relevance and adoption of cryptocurrency in the payments industry.


De Barsy, who was interviewed by The Paypers in December 2022, discussed the launch of our new report, Crypto Payments and Web 3.0 For Banks, Merchants, and PSPs, which aims to be an essential guide to understanding and accepting crypto payments. He shared his own experience with cryptocurrency, including when he first heard about it and what he purchased with his first Bitcoin. He also highlighted some of the key topics covered in the report and why it is relevant to the payments industry.


According to de Barsy, the report is relevant to the payments industry because it provides a comprehensive overview of the various areas where crypto can drive the industry forward. ‘All the components of the value chain are concerned’ he said. ‘From the Association’s point of view, we were lucky enough to anticipate this evolution: gocrypto who was very early in helping merchants accept cryptos, Mastercard and Visa with their different initiatives, JPMorgan with the JPM coin, Banking Circle with its efforts on integrating Web3.0 and crypto on their cross-border rail.


For those interested in the future of the crypto industry, de Barsy had some intriguing predictions. ‘I think we’ll see a huge development in Crypto as a payment method… We see more and more examples of companies, that start to accept crypto as a means of payment, and with the huge steps forward concerning the technology behind this; I only see it getting bigger. So far crypto payments are mostly accepted by merchants in the luxury sector, hotels, and restaurants. A well-known example here is Tesla, which is made possible through enablers like BitPay and Coinbase – to mention some of the largest.


To learn more about these topics, readers can watch the video of the interview and download the report, which also includes a complex mapping of relevant players in the field and an industry survey that aims to measure the appetite and adoption rate of crypto payments for banks, merchants, and PSPs.



About Thibault de Barsy

Thibault de Barsy is the General Manager of The Payments Association EU since its founding in 2020. Thibault was formerly CEO of Keytrade Bank Luxembourg and has over 25 years of experience in the financial and ICT sector. Thibault is a guest lecturer at the Solvay Brussels of Economics and Management. He is a recurrent guest speaker on the Belgian news TV channel ‘LN24’ and many forums of the financial industry. Before settling in Luxembourg, he held different marketing & sales positions across banks, insurance, telco, and credit card companies. Thibault holds a Master of Science in Management from the Solvay Brussels School of Economics and Management and a CEFA certificate from the Belgian Association of Financial Analysts.


About PA EU

The Payments Association EU is a business club of decision-makers in the payments industry. Their members are the enterprises forming all the components of the payments value chain in the 27 countries of the European Union. The purpose of the Association is to facilitate business for its members. PA EU seeks to achieve its objectives by organising events, managing projects defending the interests of its members, publishing research documents, and providing training.

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Keywords: cryptocurrency, ecommerce, online shopping, Bitcoin, blockchain, Banking Circle, stablecoin, merchants, banks
Categories: DeFi & Crypto & Web3
Companies: The Payments Association
Countries: World
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DeFi & Crypto & Web3

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