EBA Concerned Over Fintechs' Reliance On Traditional Rails

The European Banking Authority (EBA) has issued a warning over potential bottlenecks in Brussels’ drive for innovation in payments, highlighting the gatekeeper role that traditional banks and card schemes continue to play.

In a report published on Monday on the impact of fintech on payment and e-money companies, the EBA highlighted the extent to which entrants to the payments space are reliant on legacy entities.

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