eu cross border payment


EU cross-border payments

An evolving concept

Despite the EU’s efforts, the concept of domestic versus cross-border payments is still present in the European Union.

Executive summary

Since the introduction of the euro, a major ambition of the European institutions has been to eradicate the concept of “cross-border payments” within the European Union. While this has been done in the Eurozone thanks to the introduction of the euro as a single currency, the development of a fully integrated payment market remains a challenge in the countries that have not adopted the single currency. Indeed, today, nine countries of the European Union still have their own currencies and domestic payment systems. The resulting market fragmentation leads to higher costs for consumers and for banks. This article discusses the impact this has on the European Union payment market. Out of the nine, Sweden is an exceptional case, as it has adopted the regulation while keeping its own currency. Is Sweden an early example of what the European Commission is hoping to achieve as it acts to eliminate the concept of cross-border payments in a unified market?

PDF - 161kb

Inside Magazine issue 18, June 2018

Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.

Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).

PDF - 11.2mb
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