Resilience of the banking union’s non-cash payment systems - Disruptions involving third-country service providers

This paper analyses the external dependencies and vulnerabilities in European payments, notably on cloud services or data privacy. It acknowledges that regulatory solutions enhance resilience but have limitations, while homegrown alternatives look tempting, but may be unfeasible, or come with major trade-offs. European institutions should carefully assess costs and benefits case by case, address short-term threats, while promoting strategic long-term planning, and push decisively for a Single Market in payment services. This document was provid

Source: op.europa.eu