EU Authorities To Launch Payments ‘Innovation Forum’

A new “innovation forum” chaired by the European Central Bank (ECB) and European Commission will meet later this month to discuss the potentially transformative impact instant payments and incoming reforms could have on traditional financial firms.

Ralf Jacob, unit head of retail financial services and payments within the commission’s FISMA department, announced last week that the forum will convene for the first time on November 29.

Jacob said the group will be co-chaired by ECB executive board member Yves Mersch and FISMA director-general Olivier Guersent, and will “bring together the chairs of national payment committees” at the European level.

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