Author name: Bara Addison

Payments Regulation and Innovation Summit 2027

Obtain a 20% discount (scroll down for the discount code)

The Electronic Money Association is delighted to be supporting the Payments Regulation & Innovation Summit 2027, which is taking place on 11 February in London.

This year’s summit could not come at a more opportune time. Regulatory reform, the evolution of open banking and open finance, the growth of stablecoins and tokenisation, new approaches to fraud prevention, and rapid advances in AI and digital payments are reshaping the market.

The Summit will bring together senior policymakers, regulators, industry leaders and technology experts to examine what these developments mean for the future of payments — and, crucially, what firms need to do now to respond.

Chaired by Natalie Lewis, Partner, Head of Fintech, Market Infrastructure and Payments, Travers Smith, the programme will open with a focus on the Government’s proposals for a modernised payments ecosystem and the practical implications of a changing regulatory framework.

The agenda will then turn to some of the most important issues shaping the future of payments, including open banking and open finance, APP fraud and reimbursement, digital wallets and variable recurring payments, stablecoins, tokenisation and the future of money.

The Summit will also look beyond today’s regulatory priorities to consider the emerging opportunities and risks facing the sector. Sessions on agentic AI, digital fraud, new payment technologies and the evolving digital regulatory framework will examine how firms can innovate while managing operational, regulatory and consumer risks.

The full agenda can be viewed on the website at https://www.cityandfinancialglobal.com/payments-regulation-and-innovation-summit-2027/agenda.

EMA members can obtain a 20% discount by using/quoting code: PSR6EMA

REGISTRATION

Is this the end of interoperable electronic money?

EMA COMMENTARY

The European Commission’s Q&A 2022_6336 deals with scheme branded prepaid cards and specifically whether they fall within the definition of e-money. Prior to the Q&A such prepaid cards were accepted as e-money across the EU.

The  guidance that it provides: narrows down what products can be  electronic money, restricting them to three-party systems. This is where both payer and payee contract directly with a payment service provider (“PSP”). It effectively prohibits any four-party, interoperable, e-money systems, whether national or cross border. Four-party systems are those where the payer and payee can contract with different PSPs, as would be the case for example with interbank payment schemes such as SEPA or card schemes such as Mastercard or Visa. Four-party systems enable different issuers to interoperate with each other, where the e-money issued by one is accepted by merchants of another.

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