In our own particular context, the European reach of solutions and the use of standardization are important drivers for this. The interoperability of different infrastructures builds efficiency at the systemic level. It is important to allow equal access to all relevant infrastructures for every party fulfilling the necessary regulatory requirements.
In economic terms, we are referring to a contestable payments market.1 The keynote by Professor Christine Parlour will expand on this point. The second cornerstone is that electronic payment services must be developed to take the 1/4  BIS central bankers' speeches  needs of all user groups into consideration. Electronic payments do normally deliver efficiency.