Tony Craddock, Director General of The Payments Association, and Thibault de Barsy, Vice-Chairman & General Manager of The Payments Association EU, delved into the EU-UK payments landscape. Discussing regulatory divergence post-Brexit, the revision of payments infrastructure and regulations, as well as the significant progress made in both regions relating to the latest innovations.
Sean Byrne, CEO of PayPal Europe, examined some of the drivers of global growth from both a consumer and merchant perspective, highlighted that rapidly rising inflation and interest rates are pushing more clients to become cost sensitive and that reducing churn will require new services, such as Buy Now Pay Later and working capital products.
Turning to open finance, Jacques Pütz, CEO of LuxHub, highlighted the importance of financial services upping their innovation game and turning to the next step, being open wealth – or the opening up of securities accounts. Anders la Cour, CEO of Banking Circle Group, stuck with the innovation theme, delving into the rebundling various of financial services into one solution to access new userbases – allowing firms to pick and choose what suits their clientele. Moving to next-gen finance, Teana Baker-Taylor, Vice President of Policy and Regulatory Strategy at Circle, touched on stablecoins and the importance of payments system optionality.
Our only panel of the day saw Nadia Manzari, Partner at Schiltz & Schiltz, and Joshua Kaplan, Partner at Wilson Sonsini Goodrich & Rosati, delved into the future of payments regulation examining the PSD2 revision, the chances for PSD3, cross-border payments and MiCAR.
Watch the full replay here.