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Technology providers in the payment sector: market and regulatory developments

Author

Listed:
  • Emanuela Cerrato

    (Bank of Italy)

  • Enrica Detto

    (Bank of Italy)

  • Daniele Natalizi

    (Bank of Italy)

  • Federico Semorile

    (Bank of Italy)

  • Fabio Zuffranieri

    (Bank of Italy)

Abstract

Technology providers have taken on the crucial role in supporting the financial sector, enabling firms – even small ones – to become more efficient and keep pace with innovation. Yet, the interdependencies between such providers and financial entities may pose new systemic risks, deserving the attention of financial regulators and overseers. This paper presents the authorities’ point of view, focusing on the payments sector; it demonstrates how numerous initiatives at international and national level have made a consistent and dynamic effort to create a regulatory and policy framework aimed at balancing security with innovation.

Suggested Citation

  • Emanuela Cerrato & Enrica Detto & Daniele Natalizi & Federico Semorile & Fabio Zuffranieri, 2024. "Technology providers in the payment sector: market and regulatory developments," Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) 47, Bank of Italy, Directorate General for Markets and Payment System.
    • Handle: RePEc:bdi:wpmisp:mip_047_24
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    File URL: https://www.bancaditalia.it/pubblicazioni/mercati-infrastrutture-e-sistemi-di-pagamento/approfondimenti/2024-047/N.47-MISP-en.pdf?language_id=1
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    More about this item

    Keywords

    payment system; market infrastructure; third parties; digital operational resilience; DORA; regulation; oversight;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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