The ERPB has decided that the European Payments Council should develop an instant payment scheme for euro payments that is based on the SEPA credit transfer. With regard to e-commerce, another challenge arises from the emergence of new payment service providers. Payment initiation services and online payment integrators are expected to enter the payments chain with their service offerings.
Page 11 of 23  Restrictions on lending represent a cost which is immediately visible to the public, whereas the benefits of borrower-based measures, e.g. a reduced probability of financial crises, are abstract and will be reaped only in the longer term when the current elected representatives may not be in charge.