Mersch issues warning to European payment providers
European firms must innovate or risk being competed out of instant payment sector
European payments providers risk being muscled out by foreign players if they do not offer more innovative payment options, according to one of the European Central Bank’s most senior officials.
“Market players need to take action. Payment service providers around Europe need to start offering their customers instant payment services. And they need to do so quickly,” Mersch said today (October 3).
The retail payments market is currently dominated by non-European players. European providers
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