Consumers from vulnerable groups such as senior citizens, disabled people and those with low digital skills experience a decline in the accessibility and availability of payment services. This seems to be related to the fact that banks increasingly digitalise their services and close branches.Read more
No follow-up to public campaign on PSD2 banking
The mass media public campaign on PSD2 was conducted at the beginning of this year. It has now ended. An evaluation by research firm Kantar has shown that the campaign raised awareness of PSD2. Since the campaign’s main aim has therefore been fulfilled and the NFPS notes that few questions have been received from the public, the NFPS will not resume the campaign. Information will continue to be provided on the DNB website and at PSD2bankieren.nl.
Although the use of cash is decreasing, it remains substantial. In that context the NFPS is monitoring the cooperation between ABN AMRO, ING, Rabobank and Geldmaat to create a joint network of ATMs with withdrawal and deposit facilities. The aim of this cooperation is to make cash accessible, secure and affordable for everyone. The transition to the joint Geldmaat ATMs has so far progressed smoothly and is expected to be completed at the beginning of 2021.
Cash remains highly accessible. According to the 2019 Interim Report on the accessibility of ATMs and deposit facilities, in mid-2019 99.50% of households in the Netherlands had access to an ATM within a five kilometre radius. For deposit facilities the coverage was 96.82%.
The NFPS is also examining the recent cash-related developments to assess whether, and if so how, the 2015 vision on the role of cash (see link) should be amended. The NFPS has reaffirmed its previous position that even if the use of cash is declining, it is important to society that cash continues to be available and function properly.
The research in the months ahead will focus on answering the following questions:
- What should be understood by the proper functioning of cash?
- What criteria should be applied in a definitive assessment of - recent and future - market developments?
- If adjustments are appropriate, what form could they and should they take?
The NFPS requests that the answers to the above questions take account of the division of costs and concerns about explosive attacks on ATM’s and help identify possible innovations that could simplify payments for specific consumer groups.
Results of NFPS self-assessment
The NFPS has conducted a self-assessment over the past few months. The NFPS operators have observed a number of payment-related developments that are relevant to the NFPS, such as the rise of new payment methods driven by digitisation and the emergence of new and more numerous players, increasing the complexity of the payment system at a time when some operators have less room to manoeuvre due to Europeanisation. The NFPS must adapt to these developments to continue contributing to a secure, reliable, accessible and efficient payment system in the Netherlands in the future. It will do this in part by increasing the accessibility for new market players that can contribute to specific themes in NFPS working groups.
In the year ahead the NFPS will focus among other things on continued monitoring of access to payments accounts in PSD2 context, innovations and accessibility of the payment system in an increasingly digital world and on a review of the vision on the role of cash. Attention will also be devoted to the implementation of the European Accessibility Act in the Netherlands in the field of payments.
The NFPS seeks to improve the safety, reliability, accessibility and efficiency of the Dutch payment system. It brings together a broad base of representatives from providers and users of payment instruments. It is chaired by DNB. For further information, please contact DNB’s spokesman, Mr Tobias Oudejans (+31 (0)6-52496961).