Nicolas Treppides: The EMI sector is expected to show significant growth for another year
Demand for digital transactions and new technology keep driving EMI growth, while new regulation demands real investment in infrastructure.
The electronic money institutions sector is expected to show significant growth for another year, driven by increasing demand for digital transactions and the integration of new technologies, Moneygate founder Nicolas Treppides anticipates in an interview with InBusinessNews as part of the IN Business Forecasting series.
The market's tendency to seek solutions beyond traditional banking is constantly strengthening, and EMIs are now more widely accepted for executing a company's transactions. Compliance with new regulation, however, is a challenge that requires investment in infrastructure.
The trends shaping the sector
- Integration of artificial intelligence into financial services
- Actions to strengthen digital operational resilience
- New identification technologies
- Embedded payments
A supportive macro picture
The Cypriot economy is expected to continue its growth path, with a projected growth rate of 2.8% according to the European Commission, creating favourable conditions for continued investment in digital payments infrastructure.
Originally published in CBN, Cyprus Business News. Read the original article →