The European Association of Corporate Treasurers (EACT) published today its response to the European Commission’s (EC) consultation on a Retail Payments Strategy for the EU. In our response we highlight the critical importance of ensuring top-down regulatory harmonisation across the EU to achieve a true single market for payments and facilitate cross-border payments by corporates. We fully support a regulatory framework that is open to innovation in the payments space.
At the same time, to ensure that the benefits of payment innovations materialise, we urge for the mandatory uptake of for example the SEPA Instant Credit Transfer Scheme (SCT Inst.) and a wider regulatory push towards the uptake of new solutions such as Request to Pay.
We also highlight that a widespread uptake of payment solutions such as instant payments needs to come hand in hand with commensurate end-user protection against fraud and mistaken payment flows.
Tarek is an experienced public affairs expert, specialising in EU financial regulation and has previously advised financial and non-financial companies across the entire financial services value chain on their EU policy advocacy strategies at FleishmanHillard. Tarek has a profound understanding of the regulatory issues impacting treasury and of the strategic objectives of the EACT.
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