Event Summary
European Payments at a Tipping Point: Seizing the Opportunities
The implications of SEPA and other challenges
A one day conference by VRL KnowledgeBank and Visa Europe
The European payments landscape will look very different in 2010 to how it does now. With the date for the launch of the first SEPA-compliant products only 15 months away, now is the time to examine what these changes will mean for the payments industry and how issuers, processors and suppliers to the industry
can best prepare for them.
European payments at a Tipping Point: Seizing the Opportunities will examine the implications of SEPA and other challenges facing the European payments industry, to help form your strategy to maintain profitability, in light of these new market challenges.
By attending you will:
Redefine your payments strategy in light of the new market reality
Commercialise the opportunities that will emerge from SEPA
Understand what banks’ payments businesses look like post-2010
Focus on the key challenges facing various stakeholders, including issuers and acquirers, merchants, processors and regulators
Leverage SEPA for product development and cardholder propositions
|
Taken together with other planned initiatives such as the Payment Services Directive, SEPA will have a major impact on the future shape and profitability of the industry. For example, one recent estimate (*) predicts that SEPA on its own could result in a worst case scenario of €29 billion in direct payment revenue losses – or 62 percent of the current total by 2012 as a result of
the introduction of SEPA.
Other challenges include the huge differences in debit card economics from market to market. Also, as banks face increased costs for systems integration, IT development and branding as a result of the introduction of SEPA, the race is on to generate savings and increase revenues.
That said, SEPA will result in significant opportunities for those banks with the ambition and resources to take advantage of them. One major element of this is the increasing internationalisation of the cards industry as more issuers take their cards business crossborder.
SEPA is also a big opportunity for European banks to reduce processing costs.
From a technology perspective, migration to chip will be a compulsory part of SEPA for those schemes that are not chipenabled. EMV is likely to have a major impact on the debit cards industry as SEPA gets implemented.
So, where do European payments go from here? To find out what this means for your organisation join Europe’s leading banks, processors, and regulators at this leading cards and payments event and be at the forefront of the transformation of Europe’s payment industry.
(*) Source: 2006 World Payments Report
