It should be protected from misuse, while at the same time recognising the need for open and fair competition in the payments field. Let me also point out the issue of financial inclusion. It is interesting to note that in the EU not everybody has a bank account. For example, one-quarter of Italians and one-third of Hungarians do not have a bank account.
According to the European Commission, in Romania and Bulgaria almost three-quarters of inhabitants are unbanked.10 Against this background, while striving for greater efficiency in retail payments, financial inclusion is another important pillar. In my view, it is essential to make sure that every European consumer can open and use a basic payment account with a set of basic payment services.