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Alternative payment methods

Introducing alternative payment methods

Alternative payment methodsEver since their introduction, financial services have been linked with innovative technologies. Bringing together traditional and new financial services with new delivery channels has recently been gaining momentum. This area includes mainly innovative solutions that make financial services quicker, visually more attractive and more accessible. Placing the consumer in the driving seat, their goal is to bring modern, accessible, price-competitive and time-saving financial services.

Alternative payment methods

When paying for goods or services, consumers have a plenitude of payment methods to choose from: from the traditional ones that use cash (e.g. cash on delivery) to cashless payments. These can be carried out using various systems based on different innovative technologies (e.g. card payments, bank transfers or contactless payments with smartphones, tablets, watches and wristbands).

Payments for goods and services are often processed through the Internet, electronic banking, QR codes, installed applications or using a combination of different technical means with different security features.

Contents« Back to FinTech

  • I. Payment services and electronic money

  • II. Licensing process

  • III. Legislation

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Documents of international standardization institutions

European Supervisory Authorities

Date Name
24/09/2020 COM Retail Payments Strategy for the EU
18/07/2019 EBA publishes Report on regulatory perimeter, regulatory status and authorisation approaches in relation to FinTech activities
08/07/2019 EBA report on the impact of fintech on payment institutions’ and e-money institutions’ business models
13/06/2018 EBA Opinion on the implementation of the RTS on strong customer authentication and common and secure communication
08/03/2018 EC: FinTech action plan: For a more competitive and innovative European financial sector
28/06/2017 EBA Report on Innovative uses of data 2017

International Financial Market Regulation Organizations

Date Name
04/12/2020 Payments go (even more) digital*
14/04/2020 CPMI Payment aspects of financial inclusion in the fintech era
30/01/2020 BIS Policy responses to fintech: a cross-country overview
14/02/2019 FSB FinTech and market structure in financial services: Market developments and potential financial stability implications
08/12/2017 IOSCO Research Report on Financial Technologies (Fintech)
27/06/2017 FSB Financial Stability Implications from FinTech Supervisory and Regulatory Issues that Merit Authorities’ Attention