Send us a Text Message.

In this episode of Wrestling Payments, Joe Casali and Kevin Olsen continue their discussion from the International Payments Alliance meeting by Nacha, diving into various topics surrounding payment systems and regulations.

They start by addressing the move in Germany to eliminate checks and explore how the reduction of paper transactions could simplify banking systems. Kevin points out that while checks have been a long-standing payment method, most use cases for checks can be replaced by instant or recurring payments, except for scenarios where checks are deliberately not meant to be deposited.

The conversation then shifts to comparing the regulatory frameworks and roles of service providers in the US and Europe. Kevin highlights that in Europe, service providers often have more direct regulatory oversight and higher requirements compared to the US. He discusses the implications of such differences on the efficiency and responsibilities of these providers.

Finally, they dive into the concept of Central Bank Digital Currencies (CBDCs) and the digital euro, reflecting on the controversies and discussions around privacy, technology adoption, and regulatory challenges. They note the contrasting approaches and advancements in digital payment systems between the US and other countries, emphasizing the potential and complexities of moving towards a more digital financial ecosystem.

To hear this episode and many more like it, listen here or subscribe to Wrestling Payments on Apple Podcasts, Google Podcasts, Spotify, or anywhere else you listen to podcasts.

For show notes, transcripts, and other resources visit www.wrestlingpayments.com.

Host: Joe Casali, EVP, NEACH

#wrestlingpayments #wrestlingpaymentspodcast #paymentspodcast