Some of the constraints of its effective application 5 include (i) equity holders and investors’ aversion to risk, given the uncertainties over return in PLS arrangements, (ii) absence of effective property rights in most countries, (iii) long term nature of PLS financing and (iv) higher taxation, compared to interest income, on equity transactions underlying PLS arrangements.
In the field of smartphone payments, the most successful players are US BigTech firms: Apple Pay, in particular, has managed to become an important fixture in the European market. And some no longer speak of customers, but followers, especially in the younger generation. It is a similar story when it comes to online payment services.