A European Central Bank (ECB) official has suggested that non-bank payment providers may be granted direct access to EU-level fund transfer infrastructure, after “positive experiences” in a handful of pioneering member states.
Mehdi Manaa, the ECB’s deputy director general for market infrastructures and payments, said on Wednesday that traditional banks’ stranglehold on access to interbank payment facilities may have to be loosened in the interest of innovation.
“The increasing role of non-banks in payment services may call for a revision of the access to payment systems,” he told Brussels’ Digital Finance Europe event.
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