The roundtable discussion brought together 50 key European policy makers and industry specialists to discuss how policymakers and industry should work together to keep Europe at the cutting edge of making payments, and how payments can serve as a key enabler for economic growth in the European market.
- Carsten Höltkemeyer, General Manager of Barclaycard Germany
- Sampo Terho MEP, Member of the Economic and Monetary Affairs Committee
- Erik Nooteboom, Head of Retail Financial Services and Consumer Policy at the European Commission
- Dave Birch, Director at Consult Hyperion.
In a wide-ranging discussion, Carsten highlighted that the European payments market is facing significant changes, which provides opportunities to innovate and efficiently link buyers and sellers.
He also emphasised the need for a flexible set of guidelines to ensure consumers are protected: “What we need from policymakers are clear rules so businesses can plan for the long term and the payment network can remain stable and secure. Policymakers need to be careful not to regulate for perceived problems of the past, but for future opportunities.”
Sampo Terho emphasised that the industry should be empowered to develop its technologies and solutions freely and said an equal playing field is necessary in order to see the full potential of European payments.
“Politicians should see this movement as an opportunity,” he said.
Also discussed was the need to place Europe at the centre of payment innovation.
Erik Nooteboom warned that “an integrated market is crucial”, adding that the future of European payments is a key priority for the Commission’s single market agenda, and that mobile and digital payments could enhance growth and competition within Europe.
Carsten closed by saying: “It’s an exciting time to be in payments – we’re at the beginning of something special. We expect new legislation on payments this summer, and we’re excited to be a part of the debate.”