Advapay Digital Banking conference in Tallinn was a success

Banking
13.02.2019 10:33 am

On February 8, Advapay held its next conference in Tallinn on “Digital Banking: Electronic Money and Cryptocurrency. Regulation vs technology”.

The venue was not chosen by chance, because Estonia is one of the most loyal states to the cryptocurrency and blockchain.

During the event, the guests discussed trends in the development of banking services and the payment market in 2019.

Dr. Ubertus Von Poser, Member of the Board of Directors of PPI AG, spoke about the future of instant payments: «Instant Payments is going global. More and more markets are implementing an Instant Payments scheme. The main project in Europe, SEPA Credit Transfer Instant, is gaining speed and volume. EBA Clearing, the Pan European Clearing house, for example passed the 10-million-transaction milestone at the beginning of 2019. The biggest business potential seems to be on the corporate side: instant payments at the point of sale or for any other b2c business. The biggest challenge banks face is implementing a infrastructure that is running 24x7x365, has no downtimes and is able to process large volumes in real time».

Special attention was paid to the issue of Brexit and its implications for the European market. In his speech, Craig James, General Director of NeoPay Ltd., explained the UK exit options from the European Union under tough and soft Brexit scenarios. Projections for further regulation in the UK and key decision-making deadlines were also presented.

It is worth noting that the Craig James’ speech was the most expected, since NeoPay Ltd. is a leading expert in the UK, whose share is more than 80% of all payment companies in the European Union.

E-commerce and online payment issues were also addressed at the conference. According to George Kochegarov, legal adviser of PayAlly Limited, electronic commerce accounts for around 11.9% of total retail sales worldwide and this share is increasing on a year to year basis by around 10-15%. E-commerce is changing rapidly and some of the trends which were introduced in 2018 will continue growing throughout the upcoming years. Understanding those trends is important for both acquirers and e-commerce merchants as it allows to remain on top of the game.

The event was organized by Advapay.

“Every year we hold conferences that bring together representatives of banks, PSP and fintech companies from different countries of the world. We tried to bring together the most professional speakers with a very high level of reports. We also consider it important to give our guests the opportunity to find partners and expand business contacts, to get new contacts,” – says Maxim Ivanchenko, Advapay Founder and Canopus IT General Director.

The event took place at the comfortable Hilton Tallinn Park Hotel in the heart of the city. The conference was attended by guests from the UK, Germany, Switzerland, Belarus, Russia and the Baltic countries.