For example, merchants were the initial drivers of the introduction of payment cards in the US in the 1930s, and, just a couple of years ago, it was a mobile network operator in Kenya that succeeded in making mobile payments widespread in that country. In Europe, it is expected that non-banks will have a stronger role in payment markets in the years to come.
This will contribute to a wider choice of products and increased competition. One category of non-bank payment service providers is that of payment institutions. Payment institutions came into being as a result of the enactment of the Payment Services Directive,  2  4  http://ec.europa.eu/smartregulation/roadmaps/docs/2015_fisma_031_other_outside_cwp_green_paper_retail_en.pdf. BIS central bankers’ speeches  or PSD1. Among other things, payment institutions can execute payment transactions for you.