Retail payments : integration and innovation: a joint conference by the ECB and de Nederlandsche bank, 25-26 May 2009

On 25-26 May 2009 the European Central Bank and De Nederlandsche Bank hosted a conference entitled "Retail payments: integration and innovation". The aim of the conference was to better understand current developments in retail payment markets and to identify possible future trends by bringing together around 200 high-level policy-makers, academics, market practitioners and central bankers from all over the world. This document provides a comprehensive summary of the two-day conference and highlights the main messages and key policy issues identified. The keynote speeches, panel sessions and paper discussions centred around four main themes: the relevance of retail banking and payments for banks' profitability; the integration, competition and regulation of retail payment markets; payment habits and the adoption of new payment innovations; and the future of retail banking and retail payment markets. This conference summary shows that the expectations and requirements of payment users are strongly influenced by major social trends and a growing demand for more innovative payment solutions. Overall, the conference findings will further stimulate our efforts to foster innovation and integration in retail banking and payments.