Manoj Kheerbat - Director, NED, Board Member

🌍 𝐈𝐍𝐆 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫𝐬 𝐜𝐚𝐧 𝐧𝐨𝐰 𝐜𝐡𝐞𝐜𝐤 𝐂𝐎2 𝐞𝐦𝐢𝐬𝐬𝐢𝐨𝐧𝐬 𝐨𝐟 𝐭𝐡𝐞𝐢𝐫 𝐞𝐱𝐩𝐞𝐧𝐬𝐞𝐬 🌱 ING has launched 𝐅𝐨𝐨𝐭𝐩𝐫𝐢𝐧𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭, now available for all Dutch private customers in their mobile banking app! Originally piloted with 500k users, this feature allows customers to: 🔸 See the CO2 emissions of their expenses 🔸 Get tips to reduce their carbon footprint 🔸 Compare their emissions to the national average Developed with Cogo, Footprint Insight helps users understand and reduce their environmental impact. Click here for more info, https://lnkd.in/grn38p8v #Sustainability #GreenFinance #ING Ben Gleisner _

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💡 Last week European Payments Council published third version of Mobile Initiated Sepa (Instant) Credit Transfer and Interoperability Guidance. Below is few highlights from the guidance SEPA Instant Credit Transfers are gaining traction within the SEPA framework, with mobile channels anticipated to play a crucial role in their adoption. Retailers being increasingly interested in SCT-based payments for both in-store transactions and mobile commerce, viewing them as a complement to traditional card payments. Several European countries have already launched various solutions in this area, reflecting the growing momentum for instant payments. Mobile Initiated SEPA (Instant) Credit Transfers (MSCTs) represent a modern approach to digital payments, allowing users to initiate instant credit transfers directly from their mobile devices. 💡 MSCT Transaction Mechanics MSCTs encompass both SCT Inst (SEPA Credit Transfer Instant) and SCT (SEPA Credit Transfer) transactions initiated through mobile devices. These transactions utilize existing payment infrastructures in the inter-PSP (Payment Service Provider) space, focusing on interactions beyond this space, such as between the payer's mobile device and the point of interaction (POI). 💡 Modes of MSCT Transactions There are two primary modes of MSCT transactions based on how payment initiation data is exchanged: 💡 Payee-Presented Data: In this mode, the payee provides necessary data to the payer, either through direct presentation or prior sharing (e.g., P2P payments). This method is widely adopted for various payment contexts, particularly P2P and consumer-to-business (C2B) payments at physical points of sale (POI), often using QR codes. 💡 Payer-Presented Data: Here, the payer provides their identification data to the payee, which can be shared through proximity technology or manually entered. This mode is appealing for businesses wanting to offer enhanced customer experiences but faces challenges such as the need for compatible POI terminals and security concerns regarding data generation. The standardization of QR codes for interoperable SCT Inst payments is currently in the final approval stage by the European Committee for Standardization (CEN). 👉 Click here to read the complete guidance: https://lnkd.in/dyAiPbSz

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Sad Math gets sadder! #Interchange will be dropping at Adyen merchants. They just announced they have built out intelligent routing for debit cards. This is the same capability the large merchants (Walmart, Target, etc.) have had for quite a while for card-present transactions. This will now enable smaller merchants and, more importantly, card-not-present transactions to be routed more across the legacy PIN networks. This is a result of the clarification of Durbin, which, as of July 2023, now requires secondary networks for card-not-present Transactions. So What? Issuers will likely see 💳 Lower interchange (Likely Half) 💳 Higher Fraud (Likely Double) 💳 Impact on Brand Agreement Incentives Brandi Gregory Lindsay Hooks Jessica Pinkston Kevin Von Holten

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🌍🔍 Unlocking the Future of Compliance: The Single EU Rulebook for AML/CFT 🔍🌍  Are you ready to transform your business operations with the latest EU regulations on anti-money laundering and countering terrorism financing? Driven by the upcoming Anti-Money Laundering Regulation (AMLR) and the Anti-Money Laundering Directive 6 (AMLD6), the new Single EU Rulebook for AML/CFT is here to ensure a safer, more consistent financial landscape across Europe. 📜💡    ✨ Key Highlights:  Unified Standards: Previously, AML/CFT rules were based on Directives, leading to varied implementations across member states. The new AMLR, as part of the EU's AML/CTF regulatory package, introduces a Regulation that mandates a higher level of harmonization across the EU. This Single Rulebook ensures consistency across the EU, simplifying compliance for cross-border operations.  Enhanced Due Diligence: The new rulebook demands more rigorous identification and mitigation of risks, including stricter requirements for customer due diligence (CDD) and transaction monitoring. Implementing these enhanced measures can prove to be challenging, but important for maintaining compliance.  Centralized Oversight: The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will update supervision and improve cooperation between Financial Intelligence Units (FIUs) across member states. However, aligning with these authorities will require a consolidated data framework and streamlined processes.    💼 What This Means for You:  Operational Adaptation: Align your processes with harmonized standards to ensure compliance across jurisdictions, reducing the risk of penalties. This will necessitate substantial updates to systems and workflows.  Risk Management: Strengthening your due diligence frameworks to effectively spot and mitigate AML/CFT risks with enhanced customer verification and continuous transaction monitoring will be crucial.  Efficiency Gains: While the Single Rulebook aims to simplify compliance processes and cut down on administrative burdens, the initial implementation phase may increase workloads before eventually you will focus more on business growth.    📩 Want to stay up-to-date on new developments and insights into regulatory requirements? RegMiner by Deloitte helps organizations navigate the complex and rapidly changing (international) regulations. Visit our website and contact us to discover tailored plans to stay ahead of the curve 🚀 RegMiner | Deloitte Netherlands   https://lnkd.in/eay_c4Za   #AML #CFT #Compliance #DeloitteNetherlands #RegMinerbyDeloitte #RegulatoryUpdates #SingleEURulebook 

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Breaking news on Friday afternoon: AML/CFT Guidance for VASPs How the NZ AML/CFT regime applies to virtual asset service providers ("VASPs" - eg crypto issuers, wallet providers, payment networks and exchanges) has been a topic of debate for many years, and the ambiguity continued despite the recent VASP regulations. Today, the Department of Internal Affairs (DIA) released guidance (Guidance) for virtual asset service providers (VASPs) on the stage 2 amendment regulations under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009 (Act). The Guidance gives direction to VASPs in understanding how to approach virtual assets, their quasi-money treatment, and the nature of transfers involving them. It also makes clear the consequences of virtual assets being pulled into the wire transfer regime – that short change of definitions actually represents what is likely the most substantive impact for VASPs, but may not have been understood by all from what is on the regulations’ pages. Many thanks to Sam Short and Darlene Hu for your help putting the note together! And to Jeremy Muir who is buried in the Reserve Bank's CBDC working group today - noting that digital representations of fiat are carved out from virtual assets!

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🌟 Setting New Standards in AML Compliance: Introducing the EU AML Authority (AMLA)🌟  The unveiling of the Anti-Money Laundering Authority (AMLA) marks a new chapter in the European Union's commitment to enhancing the financial sector’s integrity. The authority was legally established on the 24th of June 2024 and is expected to start operations in the summer of 2025. The AMLA is set to revolutionize the field of anti-money laundering by setting stringent, unified standards across the EU. This harmonization is predicted to bring about a more predictable and transparent regulatory environment, reducing the administrative burden and allowing more resources to be focused on core business activities.   🔍 Pioneering Data Integration for AML Compliance   AMLA's introduction is a game-changer for data sharing across the EU. Anchored by a centralized AML/CFT database, this initiative enables real-time data exchanges among Financial Intelligence Units (FIUs) across member states. This elevated data integration not only streamlines information flow but also significantly enhances the accuracy and speed of financial monitoring and analysis. However, this transition could pose substantial challenges for banks and other Financial Services Institutions (FSIs).    🌐 Transformative Impact on Your Business:  Consolidated Data Framework: While access to a unified data ecosystem promises a comprehensive view of financial transactions, FSIs will most likely need to upgrade their systems to integrate this new framework, which requires investment and expertise.   Streamlined Regulatory Processes: Harmonized reporting protocols simplify adherence to compliance standards, yet adapting to these new standards will require changes in the current reporting systems and processes.   Enhanced Proactive Safeguards: Leverage cutting-edge analytics and collective intelligence to proactively identify and mitigate potential compliance risks. New technology and training can support that.     🛡️ Deloitte Netherlands: Your Partner in AML Excellence   The complexities of adapting to the new AML framework demand strategic insights and robust tools essential for maximizing the benefits of AMLA’s data sharing enhancements. We ensure that your business remains compliant, secure, and competitively poised within the European market.  📩 Want to stay up-to-date on new developments and insights into regulatory requirements? RegMiner by Deloitte helps organizations navigate the complex and rapidly changing (international) regulations. Visit our website and contact us to discover tailored plans to stay ahead of the curve 🚀 RegMiner | Deloitte Netherlands https://lnkd.in/eay_c4Za   #DeloitteNetherlands #RegMinerbyDeloitte #AML #DataSharing #FinancialServices #Compliance #AMLA #Innovation #RiskManagement 

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A missing part for SEPA transactions is now defined. #verificationofPayee We @ Payment Guy took a deeper look what ist affected, requested and probably still not defined?

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🗓 UPCOMING WORKSHOP: Auditing and Assurance Activities for Effectiveness 👇 With The Wolfsberg Group releasing their 'Principles for Auditing a Financial Crime Risk Management Programme for Effectiveness under the Wolfsberg Factors', we thought it would be an excellent opportunity to look closer at how to apply these principles. Whether it’s an independent audit, model validation or BAU assurance activities, we'll explore how these principles can be applied to determine effectiveness as well as compliance. Agenda: 🔸 The three Wolfsberg factors and the associated principles for effectiveness 🔸 How to adopt these principles into a methodology framework 🔸 Thematically look at what that means for performing model validation activities for key control areas such as fraud, sanctions and transaction monitoring 🔸 How FINTRAIL can help with these activities 👉 Register now: https://lnkd.in/eDSsWVHU #fincrime #compliance #assurance #audit

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This will sound rude but sometimes reality bites. I won't get many likes for this and I'll get some fruity responses but I know the people who will be silently clapping. Off the back of the latest EBA missive on Fraud..... https://lnkd.in/eqfBqkxz Payment fraud is a problem that demands a co-ordinated technical solution. Regulation will not help you here...... All the regulatory policy statements and organsational policies and controls in the world will not stop the sea of payment fraud. There is a readily available step-change solution that is a technological one and it involves payment service organisations taking their heads out of their sand and effectively deploying the latest standards from W3C for WebAuthn, DID (Digital Identifiers) and VC (Verifiable Credentials) and and then layering these technologies into their journeys in the context of hardware Root of Trust. I'll be a step bolder and say that if you are the head of fraud in a payment institution and you are not currently evaluating these technologies then you are not doing your job properly.. There, I said it.... It's about establishing the minimum level of trust required for least privileged authentication with a customer and then layering on all your extra fraud controls on top of that. I discussed this not too long ago with a major UK payments provider.... their response 'We don't do anything until other banks have done it first'. And there you have it....a killer open standards framework already adopted by MS, Google, Amazon etc etc that organisations are afraid to use because they are too scared to roll the technology out... Fear of a technological change is not conducive to progress and will never move the dial......

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EPI launches Wero wallet in Germany The European Payments Initiative (EPI) has launched its mobile-first wallet and instant account-to-account payments system in Germany, with other counties set to follow in the coming months. German Sparkassen and Volksbanken, Raiffeisenbanken customers can now make instant money transfers from account to account between individuals, via their banking app. Deutsche Bank will launch wero later this year, starting with Postbank. Wero enables mobile payments from one phone to another. Unlike traditional transfers, Wero users do not need the recipient's 22-digit account number (IBAN). Instead, a mobile phone number or email address can be used for real-time money transfers. Next year, Wero will get the ability to pay any small professional from the wallet, and also pay merchants online and upon invoices via QR code. This includes the ability for consumers to manage recurring payments for subscriptions or installments, but also to pay in merchant apps at point of sale without going through the cashier. In-store payments at the cash register will also be added in 2026, along with other capabilities, such as BNPL, merchant loyalty, programme integration and expense sharing. https://lnkd.in/ev3nH8_Z

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HUGE congrats to ClearBank who have OFFICIALLY expanded into Europe 🇪🇺 🚀 🌍 Marking the FIRST step in their international growth plans, ClearBank have has secured a Credit Institution Licence from the European Central Bank, under the supervision of De Nederlandsche Bank which underlines their leading compliance systems, robust controls AND technology resilience 🏦 💶 The new banking licence allows ClearBank to meet demand by providing Euro accounts in ADDITION to Sterling and will ALSO offer multi-currency and FX services to their European clients 👨‍💻 Rintse Zijlstra, who has been appointed CEO at ClearBank Europe to spearhead the continental expansion, said: “With changing regulations impacting banks and payment providers across Europe – many of which will require major overhauls of technology infrastructure – we are best-placed to help our clients deliver compliant, next-generation banking and payments services. ClearBank was purpose-built to enable the banking services of tomorrow and our expansion will see us support new and existing clients in their European growth.” Read more on the link below! 👇 Charles McManus Kristen Lilly Mark Fairless Aimée Cole Phil Rivers Emma Hagan Tom Harris Ezequiel Canestrari Pieter Rensink John Salter Philip H. Harry Vavasour Headland #clearbank #europe #FX #embeddedbanking #banking #payments #fintech #fintechnews #realtimeclearing #banking

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Yesterday another European Women Payments Network (EWPN) meetup of #payments #femtech and male supporting crew Betaalvereniging Nederland (Dutch Payments Association) - thank you Gijs Boudewijn. Good panel session on #b2bpayments with Worldpay, PayPal, Mastercard and ING Nederland. Interesting how the champions of user experience and speed enter the more complex b2b space. And how banks now have the opportunity to go from mere payment (type... why does anyone want to know which rail your payment runs on?) to full 'best route transaction'. Always the optimist and passionate lover of the b2b space, the PSPs can do so much for the SMEs and banks can really move towards a full circle service offering rather than siloed products. Sure we can moan about the pace of change, but do clients always move so much faster??? Banks, brace yourself and claw back the client, embed services around invoicing, receivables, liquidity, cash forecasting and forex in your 'channel' - read: relationship. PSPs can offer a lot of instant insight in payments and receivables by going swiftly deeper with data driven dashboard for the SME, who - by the way- are not a 'segment', but the backbone of our economy. Investment money is focused on the b2b space, find your niche and go for it! And always remember, the Dutch - very happy, satisfied market - is one of the hardest to crack with innovation, efficiency is beating you to it. And as such therefore a great testbed for those who dare. Thank you Ceren Danis, Saskia van Loon, Heval Deliktaş, Tanya Pineault, Silvia Mensdorff-Pouilly and team European Women Payments Network (EWPN)

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ClearBank secures a Dutch banking license I think that is common knowledge, but I am sure is also helpful to repeat it: obtain a banking license in Europe is no easy joke. #ClearBank secured a Credit Institution Licence from the European Central Bank, marking its official entry into the European market. This move enables ClearBank to meet growing client demand for Euro settlement and accounts, building on its already robust offerings in Sterling transactions. The newly established ClearBank Europe, based in the Netherlands, underscores the bank's commitment to providing secure, efficient, and compliant banking services across the continent. Founded by Charles McManus, who also serves as CEO, ClearBank has quickly become a key player in the fintech space, known for its next-generation technology platform that is cloud-native, real-time, and free of the legacy issues that often plague traditional banks. This platform, combined with ClearBank’s unique business model where client funds are held at central banks, ensures maximum security and efficiency, making it a highly attractive option for both new and existing clients. The expansion into Europe is just the first step in ClearBank’s broader global growth strategy, which will soon include offering US Dollar clearing alongside Euro and Sterling services. With this new licence, ClearBank is well-positioned to address the unique regulatory and technological challenges faced by banks and payment providers across Europe. The appointment of Rintse Zijlstra as CEO of ClearBank Europe further solidifies the company's commitment to leading this expansion and supporting its clients' growth in a rapidly evolving financial landscape. The article on Yahoo Finance in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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Action Required – FCA Expectations on Authorised Push Payments (AAP) Fraud Reimbursement Yes, it’s another call to action from the FCA. And yes, it’s another Financial Crime blog! New measures came into force on 7th October to support victims of APP fraud.  If you are not worried about this in your firm, or the impact of bad publicity, then just watch how Revolut was highlighted in a Panorama programme this week around its’ approach to customers and fraud. The FCA has again upped the ante for firms, and is actively working with firms on their anti-fraud systems and controls, in this instance around how PSP’s prevent harm to their customers, and how they tackle money mules laundering funds. The focus is on: - Having effective governance arrangements, controls and data to detect, manage and prevent fraud; - Regularly reviewing your fraud prevention systems and controls to ensure that these are effective; and - Maintaining appropriate customer due diligence controls at onboarding stage and on an ongoing basis to identify and prevent accounts being used to receive proceeds of fraud or financial crime. The FCA are also highlighting the Consumer Duty issue here, in that firms must avoid causing foreseeable harm. They specifically call out that if customers are scammed and this relates to a firm’s financial products and are due to the firm’s inadequate systems to detect and prevent scams, or inadequate processes to design, test, tailer and monitor the effectiveness of scam warning messages, then this would be a breach of that Consumer Duty. If your fraud detection processes are not sufficiently effective, then you will be at risk. - Have you got a fraud payment team? - Have you got transaction monitoring working real time? - Are you confident that your transaction monitoring rules are configured to highlight the right issues at the right time? - Have you got your alert systems flagging stuff early enough that your people can deal with this effectively? This is becoming another hot potato that could easily burn an organisation. Here at Brighter Consultancy we have experts who work with banks and payment providers on fraud and transaction monitoring systems and controls, to help you be compliant and deal with all APP fraud issues effectively. Do reach out for a confidential chat. #financialcrime #Fraud #riskmanagement #financialcrimecontrols https://lnkd.in/e9ydScGY

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I generally do not comment news, but this is quite interesting. Hopefully BaFin lifting N26 growth restrictions it is a sign of the adaptation of existing regulatory framework to digital banking #digitalbanking #n26 #AML #regulatorycompliance https://lnkd.in/dT6Qkd3h

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🔍 EU’s New AML Regulation: A Game-Changer for Virtual Assets 🔍 The EU is setting new benchmarks in the fight against financial crime with the introduction of the 6th Anti-Money Laundering Directive (AMLD6) and the Anti-Money Laundering Regulation (AMLR). These regulations, along with the new Anti-Money Laundering Authority (AMLA), bring significant changes for Virtual Asset Service Providers (VASPs). 🚀 Key Changes for VASPs Centralized Oversight: High-risk VASPs will be directly supervised by AMLA, requiring robust internal controls and compliance mechanisms.  Enhanced Data Sharing: A unified AML/CFT database will facilitate real-time information exchange among Financial Intelligence Units (FIUs), demanding advanced data management and security protocols from VASPs.  Consistent Risk Assessment: A uniform risk-based approach across Member States will focus on customer, product, service, and geographical risks, necessitating comprehensive risk management frameworks.  Tiered Supervision: VASPs will be subject to varying levels of supervision based on their risk profiles, making it crucial to stay updated on compliance requirements.  Operational Readiness: Investing in blockchain analytics and sophisticated transaction monitoring tools will be essential to manage increased scrutiny and meet data-sharing obligations.  Market Trust and Credibility: Adhering to the new AML regulations will enhance your credibility, attract institutional investors, and increase market confidence. 🛡️ How Deloitte Can Help At Deloitte, we understand the complexities of these regulatory changes. Let us help you navigate this new landscape and future-proof your compliance strategy. Want to stay up-to-date on new developments and insights into regulatory requirements? RegMiner by Deloitte helps organizations navigate the complex and rapidly changing (international) regulations. Visit our website and contact us to discover tailored plans to stay ahead of the curve 🚀 RegMiner | Deloitte Netherlands https://lnkd.in/eay_c4Za   #AML #CTF #RegMinerbyDeloitte #DeloitteNetherlands #CryptoAssets #VirtualAssets #VASPs #FinancialServices #AMLD6 #AMLR #AMLA #RiskManagement   

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⬇️ Today we’ll zoom into the #Payments ecosystem in #Netherlands from our latest white paper, "Key Players in the EU Payments Landscape 2024": https://lnkd.in/dVYy5rTP 💳 The Dutch payment system is well known for its efficiency. Driven by a strong banked population, it is oriented towards electronic, contactless and even cardless technologies. 🌐 Contactless and cardless payments, particularly via mobile NFC technologies, are becoming the norm, representing 37% of all POS transactions in 2023. Currence iDEAL continues to dominate the online payment landscape, processing €124 billion in transactions last year. 📈 The Tikkie app developed by ABN AMRO Bank N.V. is a very popular local means of payment and is used by over 7 million people or roughly 40% of the population. its popularity is partly due to the widespread use of WhatsApp. 🏦 The banking sector is highly concentrated, dominated by giants like ING Nederland, Rabobank, and ABN AMRO Bank N.V., which control 87% of the market in terms of total assets. Other local players include de Volksbank, and the "sustainable bank" Triodos Bank. In addition to traditional banking players, Dutch neobanks have emerged, namely bunq and Knab (by Aegon). 📶 The Netherlands is home to many payment service providers. One of its most renowned paytech is the processor and acquirer Adyen which provides payment solutions for Netflix, Meta, Uber and Spotify, among others. Equens Worldline , part of Worldline, became the largest instant payment processor in the euro area in 2019. Mollie is another Dutch processor widely used across Europe. Other important players include European Merchant Services, International Card Services, PAY., CCV and CM.com. The Netherlands is also home to our prestigious members The Paypers Fraudio and Modulr. Key Takeaway💡 : “The Netherlands’ payment landscape is recognized for its efficiency and robust C2C microtransaction culture, fueled by a tech-savvy, well-banked population. In 2023, debit cards dominated POS transactions with 79.7% of payments, while cash usage held steady at 19.9%. Notably, NFC mobile payments surged in popularity, making up 37% of all contactless transactions, reflecting…” Want to read the full “Expert Opinion” from Deloitte professionals Gizem Saydan and Tom van Roij on the Dutch payment landscape? Download the report here: https://lnkd.in/dVYy5rTP

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The Dutch may not only been known for their "straightforward" attitude and windmills in the near future! Mobile payments.. are on the rise, as a report by the Betaalvereniging Nederland (Dutch Payments Association) and De Nederlandsche Bank, revealed how Dutch consumers are transforming their payment habits: 🚀 Surge in POS Payments Dutch consumers made a staggering 7 billion POS payments in 2023, worth over €171 billion. This marks a 6% increase in transactions and a 4% rise in value from 2022. Cash or card, spending is on the rise! 📱 Contactless Dominance The future is contactless! With nearly 7% more card and device payments, totaling 5.6 billion transactions, the convenience of tapping to pay has never been more popular. 💸 The Cash Comeback Cash isn't dead yet! Despite the digital wave, cash payments surged by 6% in volume and 8% in value, totaling €26.5 billion. Old habits die hard! 📈 Contactless Revolution Over 4 in 10 payments were contactless, and smartphone/smartwatch payments jumped to 29%. Could this become the top payment method in 2024? The trend says yes! 👥 Demographic Trends The elderly and lower-income groups still favor cash, but a surprising shift sees 19-24-year-olds increasingly embracing card and device payments. Youth leading the charge towards digital? 🏪 Sector Snapshots Cash reigns supreme in street vending (57%), services (47%), and food & beverages (36%). Yet, petrol stations are witnessing a contactless takeover, jumping from 38% to 48%. 🔥 Inflation Impact While transaction values rose slower compared to 2022, inflation dynamics played a key role. 2023's growth, though tempered, still reflects a robust spending landscape. Businesses and financial institutions must adapt to these evolving trends to stay ahead. The payment landscape is rapidly transforming—are you keeping up? 😎 #PaymentRevolution #FintechTrends #ContactlessPayment #CashComeback #ConsumerBehavior #DigitalShift #Netherlands

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No matter what you think of CBDC this article is useful and answers most of the questions. One question i would be interested in are the costs? Are there any estimates on how much (taxpayers) money would be required to build and maintain this infrastructure? If it is so independent, secure, fast, simple yet auxiliary to existing payment means - worth knowing the price tag. No? #cbdc #payment #ecb #digitaleuro

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