The payment system

The regulatory interventions that are affecting the world of payment systems would seem to have a twofold objective: on the one hand, the expansion of the target market in geographic terms, and on the other hand, the possibility for new players to implement innovative payment services and systems, including through the use of mobile technologies. With reference to the first objective, the creation of SEPA has certainly led some financial intermediaries to design new services and products for an increasingly European customer base. Especially in the corporate sphere, electronic invoicing, document management and paper dematerialization services could facilitate the establishment of a more profitable bank-business relationship geared more toward meeting new needs. Regarding, on the other hand, the possibility of developing new services in the retail sphere, the use of mobile technologies seems to represent a major business opportunity, despite the fact that regulations would seem to give new players the opportunity to become mobile virtual operators, thus favoring the direct management of payments via cell phone. So while the opportunities and business space that expanding the market creates are numerous, so too may be the risks and threats. The Workshop therefore aims to answer the following questions:

• Could the possibility of intermediation by new players in the world of micropayments create problems for financial intermediaries?
• How can banks and other players develop new, more profitable services related to payments in both retail and corporate?
• can the entry of new players into the credit/debt world further level out payment-related revenues?
• can paper materialization and document management services create an even more profitable bank-business relationship under SEPA?