The Bank of Portugal has published its third National Strategy for Retail Payments, setting out actions through the end of 2030 to broaden electronic payment use, tackle fraud and strengthen payment system resilience. Prepared by the Payment Systems Forum, the strategy also addresses user awareness and accessibility alongside preparations for new payment technologies.
To expand electronic payment acceptance, the strategy proposes studying a legislative amendment that would require businesses to accept at least one electronic payment instrument alongside cash. Other actions include removing barriers to wider adoption of instant transfers and expanding electronic options for payments to the state. Preparations for the possible issuance of a digital euro will accompany assessments of the impact and potential of artificial intelligence in payments.
Security measures include further development of the Digital Fraud Monitoring Platform and payee verification services, alongside studies of solutions for identifying accounts used for improper payments. The strategy also targets obstacles to strong customer authentication and the operation of open banking. A National Payments Resilience Plan will be developed and implemented, while separate initiatives will seek to reduce the environmental footprint of payments.