Saturday, April 08, 2006

Report on retail payment innovations

has been published by ECB and can be downloadedhere. With the conclusion that there may be European harmonisation but national borders will still exist:
The answers to the last two questions showed a slightly controversial view regarding the integration of services across borders within and beyond SEPA. The statement that the majority of e-payment services will be offered cross-border by 2010 got an average ranking of 2.46 and the statement that national borders will still matter in 2010 got an average of 2.34. Standard e-payments like credit card payments on a virtual platform are mentioned by the providers as a niche for cross-border services that is already stable. It was commented by some providers that although no technological (internet and mobile telephones) barriers exist for cross-border services, there are national obstacles due to different frameworks (tax systems, legislation and national habits). Thus, it is not expected that the majority of e-products will be offered cross-border by 2010.