This also means that if and when other initiatives emerge, they will of course be considered equally. Public initiatives may be useful and needed from time to time to support industry-led solutions.
The European Commission, for example, could propose legislation obliging payment service providers to adopt instant payments within a certain period if a critical mass has not been reached by, say, the end of 2020. Other regulatory changes may be needed in due course. For its part, the Eurosystem stands ready to provide additional technical assistance where useful and required.