Securing the Future of Payments in Europe

The Future of European Payments is About Trust, Control, and Innovation

At Money20/20 Europe, we witnessed firsthand that the future of payments in the EU isn't just about moving money—it's about building trust, empowering consumers, and fostering groundbreaking innovation.

Key takeaways:

• Digital wallets and A2A payments are poised for significant growth. While 50% of e-commerce transactions globally are made with digital wallets, the EU lags behind with only 30-35% adoption. This indicates a massive growth opportunity for digital wallet usage across Europe. Account-to-account payments are also set to become increasingly important in the EU market, providing a direct and efficient alternative to traditional payment systems.

• The balance between seamlessness and security is crucial. Despite the push for seamless payment experiences, the session discussed how a certain level of friction can be beneficial. Consumers value control over their transactions, which can enhance security and reduce fraud.

• The industry is heavily invested in fraud prevention. Significant investments are being made in fraud prevention, with Mastercard alone spending $7 billion on fraud last year. By 2025, global investments in fraud prevention are expected to reach $10 trillion, underscoring the immense focus and resources allocated to combat fraud in the payments industry.

Industry titans on stage:

• Eimear Creaven, President Western Europe, Mastercard: Highlighted the substantial resources dedicated to combating fraud.
• Martina Weimert, CEO, European Payments Initiative: Underscored the exciting growth potential in digital wallets and A2A payments.
• Expertly moderated by Scarlett Sieber, Chief Strategy & Growth Officer, Money20/20.

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