LUXEMBOURG European Payments Hub
LUXEMBOURG European Payments Hub
AMAZONISATION
Number of worldwide non-cash transactions (in billions) by region 1200
1000 201,8
More global, more cashless payments
800
192,8 203,6 184,5
600
400 130,3
200
0 Source: Capgemini World Payments Report 2019
98,6 37,3 29,4 27,3 34,9
41,4 38,9 30,4 36,8
2013
2014
114,8 45,4 56,9
61,3 55,6
50,1 72,6
96,2
MEA
67,6
133,8 124,4
352,8 269,5
208,7 161,1
123,7 51,1
54,3
57,7
45,5
48,4
61,9
74,4
90,2
111,2
139,3
43,1
2017
2018F
2019F
2020F
2021F
2022F
34,7 38,5
41,3 39,8
49,3
2015
2016
Mature APAC
Latin America
81,7
74,2
144,2
137,9
103,5
170,4 156,3
152,9 145,4
90,2
Emerging Asia
168,2 160,6
Europe 185,9
184,5
North America
PAYMENTS
EU hub for major international payments companies
THE EUROPEAN SINGLE MARKET
450+
MILLION CUSTOMERS
7000+ FINANCIAL INSTITUTIONS
23
MILLION SMEs
WITH FREE MOVEMENT OF
GOODS
CAPITAL
SERVICES
PEOPLE
“Payments”
Payment Institutions (PI)
Electronic Money Institutions (EMI)
PSD2
PSD2
Banks
Crowdfunding
BL, MIFID Examples:
• B2B and B2C payment platforms – providing means to make either payments between companies, or between companies and individuals • Debit and credit payment transactions – execution of direct debits, standing orders etc. • FX services – automatic currency conversion • Gift voucher processing, recharging mobile phone prepaid cards
National
“Payments”
Payment Institutions (PI)
PSD2
Electronic Money Institutions (EMI)
PSD2
Banks
Crowdfunding
BL, MIFID Examples:
Issuance of ”e-money” - monetary value that is stored in electronic format and that is issued against bank money, and that is accepted by other individuals or organizations Digital wallet services
National
“Payments”
Payment Institutions (PI)
PSD2
Electronic Money Institutions (EMI)
PSD2
Banks
Crowdfunding
BL, MIFID Examples:
Wide range of possible additional services, including: • Provision of loans • Current and savings accounts and deposit taking • Access to payment systems
National
“Payments”
Payment Institutions (PI)
PSD2
Electronic Money Institutions (EMI)
Banks
PSD2
•
Currently no EU-wide regulatory framework in place, therefore passporting not currently possible in the EU
•
Proposal put forward by European Commission for EU-wide regulation on crowdfunding in March 2018
BL, MIFID
Crowdfunding
National
ESTABLISHED FINANCIAL CENTRE $5tn AUM in funds industry
120+ banks
100 insurance firms Major custody and listing centre
PROFESSIONAL FINANCIAL ECOSYSTEM
Lawyers / Consultants
Accelerators
IT Infrastructure
PSFs
Research & Development
RIGOROUS REGULATORY JURISDICTION
EU Directives & Passport
Cross-border regulator
International law
Innovative legislation
Multilingual
A GREAT PLACE TO LIVE AND WORK
Diverse
Safe & Clean
Visa free travel
Family friendly
Quality of Life
INTERNATIONAL GLOBAL COMPANIES CENTRAL LOCATION INNOVATIVE QUALITY OF LIFE STABLE
LUXEMBOURG FINANCE IS OUR TRADE
More information, videos & newsletters on www.luxembourgforfinance.com
Chris Hollifield Fintech Development Adviser chris.hollifield@lff.lu
www.emergingpayments.eu
Emerging Payments Association
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Emerging Payments Association
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Emerging Payments Association
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INTERNATIONAL SHOWCASE
OUR MISSION The LHoFT Foundation is a public - private sector initiative that drives technology innovation for Luxembourg’s Financial Services industry, connecting the domestic and international FinTech community to develop solutions that shape the world of tomorrow.
PUBLIC – PRIVATE PARTNERSHIP
LEADERSHIP CIRCLE PARTNERS
3
ASSOCIATE PARTNERS
WITH THE SUPPORT OF
4
INCUBATION
LUXEMBOURG FINTECHS MAP 5
220+ fintechs firms - 4300 Employees - €560M in Revenues - €130M in Capital
WHY LUXEMBOURG ?
LEADING FINANCIAL CENTER 1st Securities listing in EU 1st
Microfinance center in EU
Premier Wealth Management Center in Eurozone (> 350 billion AuM) Leader in Green Bonds & Climate Funds
6
1st RMB Center in EU 2nd Financial center in EU 2nd largest fund center in the World (> 3.9 trillion AuM) Home to EIF and EIB AAA rated country
LUXEMBOURG’S ATTRACTIVENESS
ü Highly Accessible Financial Regulator ü Corporations open to innovation and
partnerships ü License application in English, French and
German ü EU passporting license (400M consumers) ü Regulated cloud services ü Seven Tier 4 Data Centers ü Partnership with Key Fintech Hubs around
the World ü Highly Qualified People
7
SUPPORTING FINTECHS
FINTECH ECOSYSTEM VALUE CHAIN
8
INTERNATIONAL NETWORK
25+ INTERNATIONAL PARTNERSHIPS
9
THANK YOU info@lhoft.lu
You enjoyed the session and would like to receive more information about us? Then feel free to reach out to us.
Chris Hollifield - Business Development & Fintech Adviser at LFF chris.hollifield@lff.lu
LUXEMBOURG
Thibault De Barsy, Vice-Chairman & General Manager at Emerging Payments Association EU - thibault.de.barsy@emergingpayments.eu
European Payments Hub
Alex Panican, Head of Partnerships & Ecosystem Development at LHoFT alex.panican@lhoft.lu Karen O’Sullivan, Head of Innovation, payments, market infrastructures and governance Department at the CSSF - karen.osullivan@cssf.lu Natasha Deloge, Deputy Head Of Department at the CSSF natasha.deloge@cssf.lu Samuele Pinta, Founder & COO Satispay samuele.pinta@satispay.com