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Dutch Payments Association endorses DNB Vision on Payments

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The Dutch Payments Association endorses the comprehensive vision for payments presented by DNB on 29 March . This provides clarity and direction for all parties in the wider social landscape in the years ahead.

Girl pays contactlessly at a market stall with sweets, with overlay text “DNB Vision on Payments 2022–2025” about the future of payments.

DNB rightly points out that ongoing digitalisation also has major consequences for payments. Almost all the subjects highlighted by DNB in its vision fall within the mission and objectives of the Dutch Payments Association: striving for safe, reliable, efficient and accessible payments.

Accessible and inclusive digital payments are one of our key policy priorities. It is vital that as many consumers as possible receive support, can become digitally self-reliant and, for example, can arrange their payments online independently. This year, the Dutch Payments Association’s annual conference focuses on digitalisation.

Well-functioning cash remains of major social importance for those who still need it. With only 20% of all payments now made in cash, and this share expected to decline further, sound agreements with all parties involved are needed to safeguard cash payments in the long term and keep them affordable. We are actively developing digital fallback options that can replace cash in the event of an unexpected debit card payment outage. Major nationwide debit card payment outages are extremely rare, incidentally (there was one brief outage in 2021). In time, the digital euro may take its place alongside euro banknotes.

Payments are becoming not only more digital, but also more international. It is increasingly important that European payments can operate independently of non-European parties. We wholeheartedly support this aim.

DNB also points to the downside of digitalisation: vulnerability to cyberattacks and the need to improve resilience against them. We recognise that need.

In short, we look forward to working with our members and stakeholders, under DNB’s direction, to make payments even better.

We are also working on a future-proof funding model for the payment infrastructure, to ensure that it remains innovative, reliable, available and accessible to everyone. We are concerned, however, about the very high costs our members incur to comply with extensive legislation and regulations, including measures to combat money laundering and terrorist financing.

Read DNB’s full Vision on Payments…

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