MARTINA WEIMERT
A new way of paying Martina Weimert on how payment is at a turning point and Europe must lead it primary means of payment, QR codes gain momentum, and cloud-based apps controlled with biometric authentication take control of all processes. in terms of payment ‘objects’, as well as the diverging visions within it Firstly, many European countries have developed their own national
schemes tailored to their specific needs, requirements, and regulations, posing a major constraint to any unified project. Although the European Commission is making strides, payment and banking policies still vary significantly from one country to another. Secondly, various national initiatives are attempting to address this fragmentation through interoperability, but aligning different independent systems technically requires substantial investment. Additionally, issues often compound when considering consumer and data protection processes and regulations, which vary and create potential protection gaps between markets, thus hindering secure cross-border payments. » We must all join forces to meet the payment evolution and regain our sovereignty in Europe The third major challenge is the prolonged effort to digitalise payments. Europeans generally show consistency in their payment methods, and technological innovation often requires time to persuade and establish long-term usage. Fostering this digital culture will require quite a lot of education as wallets become more popular, smartphones become the
We must all join forces to meet the payment evolution and regain our sovereignty in Europe. Professionals advocate for greater control over payments and support such initiatives, while consumers have the right to decide if their data and consumption habits are shared with governments or sold for marketing purposes. This effort is not just about regaining control and ensuring we don’t miss the train to the next era; it’s about providing every European with a choice and a new way to pay.
The payment industry in Europe is at a turning point, where a diverse array of players and payment methods has led to significant fragmentation impacting the region. It is with this vision of the future that we started to build EPI almost five years ago but now that it has become a reality, it implies more than a promise or a new project. While payment means used are already numerous, and most Europeans are not forcefully looking out for new ones, the digital drive has created an opportunity that we must take care of to create not only alternatives but added-value solutions. With the new global order empowered by various political and economic changes, protecting consumers’ and professionals’ interests, and especially data, is more crucial than ever. New technologies are empowering, and we must leverage them to develop payment capabilities that are easy to use, secure and seamless. Europe has excelled in regulation to ensure protection, but the stakes are higher than that – our industrial interests are also on the line, particularly in light of the recent shifts in the US-European relationship. However, various potential breaks exist due to the fragmentation of the European payment market itself, both
AT A GLANCE
With over 20 years of experience in the
payments industry, Martina Weimert is a staunch advocate for account-to-account (A2A) instant payments, firmly believing that these elements could help Europe achieve independence and innovation in payments. Since 2020, she has been leading the European Payment Initiative. Born in Germany and now residing in France after travelling and living across various European countries, Martina is fluent in five languages.
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