Building a Resilient Payment Ecosystem and Consumer Trust— Speech by Director Domhnall Cullinan at Payments and E-Money Industry Seminar

Introduction Good morning everyone, You are all very welcome here today to Central Bank of Ireland’s Payments and E-Money seminar - a forum where we can reflect together on the key developments, challenges and risks facing the payments ecosystem. I would like to say thank you to Tommy Hannafin and his team for organising today’s event and for inviting me to join you this morning. A special thanks also to all our panel members, including Federico Cabañas from the Banco de Espana, who have agreed to participate in our panel discussion on the opportunities and challenges facing the payments sector. The payments ecosystem lies at the heart of our economy and continues to evolve at a remarkable pace. Technology has driven this transformation, shifting customer preferences from cash towards electronic payment methods. That said, cash continues to play an important role for many people and is actively supported through the government's Access to Cash strategy, in which the Bank plays a key role. You, the Payment and E-Money sector, have been at the forefront of these shifts, leveraging new technologies to move money faster, cheaper, and with less friction than was previously possible. In

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