Some banks are changing their strategies to become active as third party service providers or even to set up special purpose subsidiaries. These subsidiaries will provide their parent bank’s services bundled with the services offered by competing banks, making the increased competition really work for the benefit of payment service users – be it consumers or merchants.
Instant payments And now let us return to instant payments, and to the wallet in your pocket. If you went for a coffee before this meeting and paid for the coffee with coins or banknotes, you made an instant payment – in cash.