Key regulatory and industry initiatives (KRIIs)
COVID-19 has triggered security awareness and safety efforts: Anti-Money Laundering Directive V (AMLD V), data protection, and cybersecurity focus on payment ecosystem resilience. A unified industry framework to combat fraud, including digital identity and authentication, is needed, especially in open networks. Initiatives such as P27 (Nordics real-time payments system) and EPI (European Payments Initiative) are gaining industry acceptance or interest in response to a potential quasi-duopoly of consolidated global card schemes and tech giants.
Key Regulatory and Industry Initiatives (KRIIs) Clustered by Regulators’ Primary Objectives, 2020
Regulators work to instill trust, address non-cash payments risk amid unparalleled growth, as players collaborate to quell COVID-19 uncertainty.
Risk reduction and standardization have been regulatory focus areas in 2020 as systemic risk portends imminent threat, and the health crisis continues.
Key regulatory and industry initiatives (KRIIs) clustered by regulators’ primary objectives, 2020
World Payments Report 2020
The World Payments Report 2020 from Capgemini is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. This 16th edition highlights the need for payment firms to rapidly prioritize technology transformation in order to become digital masters and stay competitive.Download now