The support from all relevant stakeholders is needed to ensure that such objective becomes a reality. As the catalyst for e-payment growth, the banking and payments industry should explore the possibility of forming strategic alliances with non-traditional partners. The recent partnerships between banks and telcos in the roll-out of mPOS are a good example of such new partnership. Let me outline the key priorities for the banking and payments industry in the upcoming year of 2016. I would like to raise 6 points. i. First, as a group, we need to ensure there is no delay in the key payment card infrastructure projects such as migration to cardholder verification by PIN and the migration to contactless debit cards under the Chip and PIN and the MCCS initiatives. Coordinated constant and effective communication strategies must be undertaken to ensure an effective and seamless migration;  ii. Second, the payments industry must collaborate towards the achievement of an additional 50,000 payment card terminals and 137 million debit card transactions under the Payment Card Reform Framework. In this regard, the industry should devise creative measures to facilitate behavioural change. This may include offering incentives and educating merchants and cashiers to motivate customers to use debit cards instead of cash;  iii. Third, MyClear together with the banking industry should expand the biller base for JomPAY, a payment system launched in April 2015, to further enhance the efficiency and convenience of making and accepting online bill payments;  iv.
The same is true for your Study group: you are about to release a seemingly very attractive study on “net worth at risk” which aims at describing the ability of companies to face an external financial shock, with a focus on recent years: it will certainly attract a lot of attention when you publish this work. As it is time to conclude, I would like first to confirm that BDF, a founding member of the ECCSBO, is still very dedicated in all that is related with corporate analysis. Your presence here today is certainly the expression of a commitment similar to our own one; it is a good augur for your future works and an encouragement for our joint efforts to be pursued. Finally, I would like to thank personally President Manuel Ortega because I know all what you do to keep the dynamics of this Committee. Many thanks also to all of you for being here today, for your support and your participation in this meeting, because I have  2  BIS central bankers’ speeches  no doubt that you will have fruitful debates. If I may, I would add a special thanks for my colleagues from the Companies Directorate and for the protocol office, who deployed a lot of efforts in organising this event for the better: without their help we wouldn’t have been able to meet at this venue. Thank you for your attention. BIS central bankers’ speeches  3