Instant payments disrupt Luxembourg ecosystem
Demand for instant payments, an area in which certain corners of Europe have lagged other parts of the globe, is, according to PwC, disrupting Luxembourg’s payments ecosystem, as well as putting strain on the existing infrastructure. At the same time, innovation in B2B payments the new frontier of payments.
These changes in payments and others are taking place against the hugely increased profitability of the Luxembourg banking market, which collectively recorded a 2021 net profit of 30.8 percent.