CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
Online fraud poses one of the most pressing challenges to the integrity of the EU's payment systems. It threatens consumer confidence, undermines business resilience and imposes significant direct and indirect losses across the payment value chain. As electronic transactions and digital finance expand across borders, fraud tactics grow more sophisticated, ranging from authorised push payment scams and account takeovers to large-scale mule networks, eroding trust in payments and in the digital single market.
CEOE’s Delegation to the EU. Square de Meeûs, 28. B-1000 Brussels
Europe’s growth is an increasingly pressing challenge. While ensuring financial stability and consumer protection remain fundamental pillars of the Union’s regulatory framework, the question arises: are they sufficient on their own to support the sustainable growth the EU needs?
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
Still today, the European payments market remains fragmented. Most players operate solely at the national level and consumers depend on international schemes for cross-border transactions. Change is needed, as secure, efficient and low-cost cross-border payments are essential for the functioning of the EU single market, as well as for deeper European integration.
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
While the retail digital euro has attracted more public and regulatory attention, the wholesale dimension of central bank digital currency remains less visible – despite its high transformative potential. A wholesale digital euro could enhance the functioning of capital markets, support real-time and programmable settlement mechanisms, and open the door to entirely new forms of financial intermediation. Its implications may extend well beyond financial institutions, with tangible use cases that could directly impact citizens and reshape the broader payment landscape.
Credit fraud has fallen slightly under the radar as of late. Worryingly, this comes at a time where increased digitalisation is exposing the sector to new vulnerabilities. Despite legislative provisions that aim to safeguard the credit market, scammers’ use of innovative techniques is proving costly for lenders and consumers – ultimately jeopardising trust in credit institutions.
Wednesday, 14 May, 2025 - 00:00 to Sunday, 30 November, 2025 - 00:00
A comprehensive review of the EU’s financial rulemaking process is urgently needed. The framework, originally designed under the Lamfalussy procedure, has expanded beyond its intended scope, raising concerns about regulatory complexity and efficiency. At the same time, the role of the European Supervisory Authorities (ESAs) requires further clarification. Despite their mandate to foster market integration, integration levels are declining, regulatory burdens are increasing and enforcement cases are on the rise. Some degree of streamlining is now essential.
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels
Payment markets have significantly transformed over the last few decades, both globally and at EU level. As consumer demand for digital solutions grows, innovations have surged throughout the EU’s retail payment ecosystem. New players have entered the market, while established ones are capitalising on emerging opportunities. Consumers now benefit from more choice, as well as a more personalised digital payment experience.
The recent ruling of the Court of Justice of the European Union (ECJ) in the Schufa case has sent shockwaves through the financial sector, raising critical questions about credit scoring practices across the EU. The decision, which challenges automated credit assessments, has sparked concerns about potential fragmentation at the national level, as Member States may take divergent approaches to compliance.
Since the publication of Bitcoin’s whitepaper in autumn 2008, the number of crypto-assets has increased dramatically. As of November 2024, more than 10 000 crypto-assets are listed on CoinMarketCap, with a combined market capitalisation exceeding three trillion USD – surpassing some of the largest US Big Tech companies.
The European Credit Research Institute (ECRI) is a think-tank managed by CEPS and has its own board with its own strategy. At present, its funding is based on some combination of research projects and membership fees. ECRI is supported by 10 prestigious members whose primary focus is on payments and consumer loans: