The payments sector is going through a profound change by integrating the fields of credit and loyalty schemes. At the same time, major players are making acquisitions consolidating the European market. Consequently, regional champions are emerging between the global players and the fragmented local operators.
The research goes beyond the pan-European well-known trends of increased digitalisation and decreased cash usage, and dives into how the different national, political, and economic pressures influence the payment landscape within regions of Europe.
The research found some interesting trends, including:
Nicolas Mackel, CEO of Luxembourg for Finance, said: 'For Europe’s financial industry to compete in the disruptive digital era, local networks and solutions need to be frictionless across the continent. This is even more important as we emerge from the pandemic as more consumer and transactional activity shifts online. We must now come together and unify as a region, rather than continuing with the mosaic of different payments systems we currently see across the EU. The payments sector is hitting critical mass and cooperation and consolidation is the sensible way forward. The introduction of PSD2 is already helping to encourage further cross border expansion, and this research identifies the major emerging trends.'
Thibault de Barsy, General Manager of EPA EU, added: 'In such a differentiated market, our research, which presents an innovative strategic review across Europe’s individual payments markets, provides the perfect basis to monitor how national, regional and global players are progressing.'
You can find the report HERE. To contact EPA EU: Thibault de Barsy Vice-Chairman & General Manager Emerging Payments Association EU A.S.B.L. M +352621355923 A « The Lhoft », 9 Rue du Laboratoire, 1911 Luxembourg E thibault.de.barsy@emergingpayments.eu W www.emergingpayments.eu
To contact Luxembourg for Finance: Chris Hollifield Head of Business Development Luxembourg for Finance 12 rue Erasme, L-1468 Luxembourg chris.hollifield@lff.lu +352 272021-1 www.luxembourgforfinance.com
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