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Payments newsletter: Betaaljournaal 24

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It’s almost time for our annual conference again; less than a month to go! It will come as no surprise to anyone that this year’s conference will focus on accessible and inclusive payments. Last week, we held a meeting with our members to discuss the European Accessibility Act.

However, all other developments in the payments sector are continuing apace, starting with the preparations for the possible introduction of a digital euro. The Governing Council of the European Central Bank decided last week to move on to the next phase of these preparations. The European Commission has tabled a legislative proposal to ensure sufficient availability and acceptance of cash, alongside a proposal for a legal framework for the digital euro. Closer to home, the Ministry of Finance is working on a specific Dutch legislative proposal concerning cash. Furthermore, it is now possible to withdraw cash contactlessly using a debit card at the latest Geldmaat cash machines.

Fortunately, legislation and regulations designed to keep cash available for groups that depend on it do not hinder further digital developments. For example, Europe is continuing to develop the successors to PSD2, namely the PSR and PSD3, as well as the Open Finance Framework. Together with Thuiswinkel.org and Currence, we have published the figures on online transactions and e-commerce spending for the first half of the year. Our members will soon be able to track these closely via the new digital dashboard of the Thuiswinkel Markt Monitor.

I hope to see many of you at our annual conference on 15 November. For now, I hope you all enjoy reading this new edition of our Betaaljournaal.

Gijs Boudewijn, Managing Director

Full conference hall where a speaker is presenting, with a large purple number 24 on a light blue background on the projection screen.

SEPA migration to ISO 20022 postponed until 17 March 2024

Graphic about the ISO 20022 standard for payment messages.

On 24 October 2023, the Payment Scheme Management Board (PSMB) of the European Payments Council (EPC) decided to postpone the migration to the 2019 version of the ISO 20022 XML standard for SEPA payment messages until Sunday 17 March 2024. All changes to the 2023 rulebook are also being postponed until 17 March 2024.

Invitation to the Annual Conference

Visual for the Dutch Payments Association Annual Conference 2023 on accessible payments.

On Wednesday 15 November, we are organising our Annual Conference on the theme of accessibility in the payments sector. How can we help people with digital anxiety feel comfortable using banking apps? Which innovations will provide better support for target groups who need it? What will artificial intelligence bring to this? You will be shown various demos. We will also be discussing the Accessible Banking programme, which we are running in collaboration with our members and the NVB, and the challenges our sector faces with the European Accessibility Act. The day’s chair will be Donatello Piras.

It’s time for accessibility. We’d be delighted if you could join us!

Venue: ING Cedar, Bijlmerdreef 106, Amsterdam
Time: 1.30 pm – 5.00 pm, followed by light refreshments (doors open from 1.00 pm)

Banks sign the Digital Inclusion Manifesto of the Digital Living Alliance

Representatives of Dutch banks and industry associations sign the Digital Inclusion Manifesto.

On 12 October 2023 in Almere, the four major Dutch banks, the Dutch Banking Association (NVB) and the Dutch Payments Association jointly signed the Digital Inclusion Manifesto of the Digital Coexistence Alliance . The signing of the manifesto took place during a dialogue session chaired by Laurentien van Oranje, involving experts by experience, representatives of civil society organisations, and bank staff and directors.

Members’ meeting on EAA accessibility requirements

Members’ meeting on the European Accessibility Act accessibility requirements.

On 23 October, our members’ meeting on the European Accessibility Act (EAA) took place in Amsterdam. Matthew Luken, former VP of Digital Accessibility at US Bank, shared his experiences of applying accessibility requirements to US Bank’s digital services with over 40 attendees.

Luken focused in particular on how he had, at the time, built up the organisation from within to ensure that ‘accessibility’ permeated every fibre of the organisation. He highlighted many key points, such as: how do you embed accessibility within your organisation? How do you secure board-level commitment? Above all: how do you ensure effective testing processes for your websites and apps? Luken provided the audience with interesting perspectives and action points.

Prior to Luken’s presentation, Michel van Bommel from the Dutch Payments Association spoke about the EAA’s specifications and requirements, as well as the Association’s activities in this area.

We can look back on a successful meeting.

Developments regarding the digital euro

Illustration of a digital euro payment.

Preparations for a potential digital euro will enter the next phase from 1 November 2023. This was announced by the Governing Council of the European Central Bank (ECB) on 18 October. Among other things, the ECB will select service providers for the potential development of the necessary infrastructure and will make preparations for a decision to be taken at a later date on the issuance of a digital euro.

The European Commission (EC) and the ECB have been preparing for some time for the possible introduction of a digital euro as a retail payment instrument. With increasing digitalisation and the associated decline in the relevance of cash for payment transactions, the aim is to offer citizens and businesses the euro in digital form as well. In June, the Commission published a proposal setting out the legal framework for a digital euro.

The ECB’s decision-making on the actual design and implementation of a digital euro can only take place following the final approval of the legislation proposed by the EC. Following this decision-making process, any implementation will take two to three years. A digital euro will therefore certainly not be introduced before 2027.

The Dutch Payments Association is monitoring developments closely. We are committed to providing critical feedback on behalf of our members. We are actively contributing to the discussion and keeping our members informed of further developments regarding the design and implementation of a digital euro, the introduction of which has not yet been finalised. As European Commissioner McGuiness emphasised: “We are at the beginning of a long democratic process.” With the forthcoming changes in the EU Presidency to non-eurozone countries, it remains to be seen how quickly progress will be made on this issue.

Job Vacancy: Product Consultant – Giro

Illustration for a vacancy in account-to-account payment products.

Looking for a dynamic role in the payments sector? We’re looking for a Product Consultant to manage and expand Digital Direct Debit Authorisations! Work alongside experienced colleagues and play a crucial role in collaboration within the Dutch payments infrastructure.

Ready for this challenge? Apply now! Not the right role for you, but know the perfect candidate? Share this opportunity with your network!

Contactless cash withdrawals at Geldmaat

Illustration of a Geldmaat cash machine with contactless functionality.

From now on, you can make contactless cash withdrawals at Geldmaat’s latest ATMs using a debit card, smartphone or smartwatch. You no longer need to insert your debit card into the machine; simply hold your debit card, phone or smartwatch briefly against an NFC (Near Field Communication) scanner. Your own bank must support this feature, though.

At present, this is possible with a physical contactless debit card from most Dutch banks. With a virtual debit card on a smartphone or smartwatch, it doesn’t yet work with many banks, with a few exceptions.

It is expected that, in time, contactless cash withdrawals will be possible at Geldmaat using contactless payment cards from all banks, even if those cards are virtual and stored on a smartphone or smartwatch. Ask your own bank what’s already possible, or simply give it a go at one of these new Geldmaat ATMs.

Geldmaat’s new cash machines can be recognised by the contactless NFC scanner, which is built into the machine so that it sits completely flush and flat. A working NFC scanner is surrounded by a green light and displays the contactless payment symbol. These new ATMs are already in place in all Geldmaat branches. Over the coming year, they’ll gradually be installed in ordinary shops and on building façades too. Contactless card readers are far less vulnerable and prone to faults than the card readers where a payment card has to be inserted fully.

PSR and PSD3

Illustration about the PSR and PSD3 proposals for payment services.

In the previous Betaaljournaal, we reported that on 28 June the European Commission published two proposals following a PSD2 review, relating to the so-called PSR and PSD3. In early October, the Dutch Payments Association, together with its members and the Dutch Banking Association, responded to these proposals. The Dutch Payments Association broadly welcomes the Commission’s legislative proposal; it will lead to less fragmentation between Member States. However, particularly in the areas of Open Banking and consumer protection, we see scope for a number of improvements.

Follow the consultations on the PSR and PSD3 on our website, where you will also find our responses.

European legislation on the availability and acceptance of cash

Older person taking cash from a wallet.

The European Commission (EC) has proposed a regulation on euro banknotes and coins as legal tender. This regulation consists of two parts:

Acceptance of cash payments;
Access to cash.
The Dutch Payments Association believes that the acceptance of cash should, in principle, be market-driven. Retailers are best placed to decide which payment methods they should offer their customers. Exceptions may be made for specific sectors. In this regard, the EC must take account of the local needs of Member States. After all, Member States differ in the extent to which and the manner in which payment transactions are digitised. The EU proposal on access to cash is already well aligned with the situation in the Netherlands.

The draft legislation also sets out the supervision of both aspects. The Dutch Payments Association is pleased that the regulation allows Member States scope to take measures where actions are not in line with the regulation. Each Member State can determine for itself which measures are most appropriate, depending on the specific characteristics of its national payments market. The European Commission should only be able to override a Member State’s decision in very specific situations.

Online purchases remain stable in the first half of 2023

Chart of online payment methods in the first half of 2023.

The number of online purchases made by Dutch consumers in the first half of 2023 was the same as in the previous six months. Online turnover rose by 2 per cent, mainly due to higher online spending on services such as travel, accommodation and events. Online spending on products fell, particularly on electronics, clothing and personal care.

Further insights into developments in e-commerce payments during the first half of the year can be found in a joint report by Thuiswinkel.org and the Dutch Payments Association. This also includes a clear infographic.

Accessible Banking Newsletter

Accessible Banking programme logo.

Are you already familiar with the important initiative by ABN AMRO, ING, Rabobank and de Volksbank to make banking more accessible to everyone? The Accessible Banking programme is dedicated to supporting people in vulnerable situations and aims to improve access to banking and payment services. The programme is coordinated by the Dutch Payments Association and the NVB.

Stay up to date with the latest initiatives, partnerships and measures by signing up for the Accessible Banking newsletter .

Geldland

Geldland logo.

Watch our latest video here:

Thumbnail for the latest Geldland video.

Figures

Dutch consumers spent €16.3 billion online in the first half of 2023.

More key figures in our press release.

Calendar

Members’ Bulletin

In addition to this Betaaljournaal, the Dutch Payments Association also publishes Members’ Bulletins. In these, we inform members about practical matters of importance. The bulletins are usually published a few times a month and focus on a specific theme. Are you a member but not yet receiving these bulletins? You can ask to be added to the mailing list via secretariaat@betaalvereniging.nl.

Subscribe to the Betaaljournaal

Are you also interested in the latest developments in the payments sector? Stay up to date via the ‘Betaaljournaal’. You can subscribe here.

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