EBAday 2024: Turning European dialogue into solutions for the new payments era

finextra.com:

Ehrmann introduced the theme - 'Orchestrating the Dialogue on Payments – The Collaborative Advantage' and praised the location of the event - Lisbon, Portugal - reiterating how the city and country has excelled with regards to digital transformation.

He stated that the challenge that European payments has to contend with now is how to take "SEPA into a new era of instant payment and digital transformation." This is an obstacle he thought was reflected in the event agenda.

Before introducing the rest of the conference, Ehrmann said: "When we come together at EBAday and beyond, share our experiences, identify common pain points, and discuss the best solutions for the ecosystem, we truly do orchestrate the dialogue on payments and ultimately turn dialogue into the practices and solutions of the new payments era."

Bank of Portugal’s national strategy for retail payments

EBAday host keynote speaker, Hélder Rosalino, member of the board, Banco de Portugal, described the central bank's strategic vision and key priorities, as defined in collaboration with stakeholders.

Rosalino said: "We have observed a huge reorganisation on the supply side of the payments market, with new players entering the market (fintechs and bigtechs), based in new business models and agile infrastructures, providing also non-financial services.

"We have also experienced the introduction of new technologies in payments, such as distributed ledger technology (DLT) and artificial intelligence (AI), that can be used in detecting anomalies and preventing fraud, in increasing the speed and security of transactions, and in improving the services provided to the consumer."

Rosalino also went on to describe Portugal’s journey to its current payment