In a recent speech, a member of the ECB Executive Board has tried to set out the EU response to the future of payments and the integration of payment services.
It is noted in the speech that users interact with payment services in a variety of different ways, depending on the services available for the user's needs. This is not new news and the message seems clear - if central banks cannot reform fast enough, then Fintech firms and other innovators will.
As this speech correctly points out, there does need to be a clear understanding of how consumer choice is protected as much as data or indeed money itself.
Eventually this will lead to different regulatory requirements in the coming years and a clear understanding of the roadmap is essential for successful innovation in future.
You can review the speech here: https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201127~a781c4e0fc.en.html