Enhancing payment system resilience through greater choice and European autonomy
De Nederlandsche Bank (DNB) has published its 'Vision on Payments 2026-2028', outlining strategic priorities to enhance the resilience and autonomy of the European payment sector. The vision emphasizes the need for greater choice and innovation to counter geopolitical tensions and cyber threats.
Building European payment autonomy
DNB's vision for 2026-2028 prioritizes strengthening resilience and autonomy in the European payment sector amidst a changing geopolitical landscape.
It aims to reduce dependence on non-European players and stimulate European digital payment methods like the digital euro and Wero.
This requires significant investment and broad societal support to balance resilience with affordability.
Cash remains a fundamental element, and DNB emphasizes its continued availability, accessibility, and affordability in various forms.
The vision also addresses the vulnerability of retail payment systems, particularly card payments, to outages of critical players and cyberattacks, advocating for measures like offline card payments and diversified payment options for households.
Innovating for a secure payment future
DNB encourages innovation in the payment market, provided stability and reliability are ensured.
Key areas of focus include digital wallets, responsible AI use, and combating payment fraud through sector collaboration.
For interbank payments, DNB aims to evolve central bank services with innovations, facilitate DLT transactions, and make international payments faster and cheaper.
The digital euro is being developed as a complement to cash for the public, and the Eurosystem will bridge to various Distributed Ledger Technology platforms to support market innovations and strengthen the European Savings and Investment Union.
Strategic independence for payments
DNB's vision offers a timely framework for strengthening European payment autonomy amidst rising geopolitical risks.
While promoting innovation, the document rightly stresses the need for inclusive access to digital services for all citizens.
Realizing these ambitions will demand sustained investment and broad societal commitment.