Community

Just one correction: I did not state that the newcomers brought fragmentation or friction into the game. To the contrary, fintech helps reduce friction. The payments landscape was (and still is) fragmented and we are working together towards harmonised pan-European payments solutions.

Just one correction: I did not state that the newcomers brought fragmentation or friction into the game. To the contraty, fintech helps reduce friction. The payments landscape was (and still is) fragmented and we are working together towards harmanised pan-European payments solutions.

The regulatory technical standards on strong customer authentication from the European Banking Authority will probably put an end to this high criminal spending possibility since after 150 euro of cumulative contactless spending the PIN must be used again. Some communities have had such a spending limit on contactless in place from the start.