In 2023, the share of enterprises experiencing problems because of late payments in the EU experienced its highest increase in the past five years. Average payment periods seem to have deteriorated, a
The EU Payment Observatory Annual Report 2024 by CEPS provides a comprehensive analysis of the European Union's payment landscape, focusing on trends, regulatory developments, and technological advancements. It highlights the ongoing shift towards digital payments, with a notable increase in contactless transactions and the adoption of mobile payment solutions. The report discusses the impact of the Digital Operational Resilience Act (DORA) and the Markets in Crypto-Assets (MiCA) regulation, which aim to enhance the security and efficiency of financial transactions. It also examines the role of instant payments, the rise of open banking, and the challenges related to cybersecurity and fraud prevention. Additionally, the report addresses the competitive dynamics between traditional banks and fintech companies, the integration of blockchain technology, and the potential implications of central bank digital currencies (CBDCs). The document underscores the need for harmonized regulations to foster innovation while ensuring consumer protection and financial stability across the EU.
Business & Finance
Mon, December 16, 2024
