On October 17th, 2018, the global provider of secure financial messaging services (SWIFT) has published a white paper on the evolution of the European payments landscape.
The paper discusses how change in wholesale and retail payments across the world is on its way and that it has set a clear path for financial market infrastructure renewal in Europe, and more specifically the Eurosystem. Taken into account regulations such as PSD2, a period of radical transformations are rapidly making its way to spread across Europe.
The paper also elaborates on change drivers in the payments sector on both global and European levels, as it also outlines challenges and opportunities for incumbents in terms of digitisation, technology and strict regulators.
The official press release on the payments transformation in Europe can be found here.