CAROL GRUNBERG:“ From my perspective, payments regulation is a fascinating yet challenging arena, shaped by the unique economic, technological and cultural landscapes of each region. Through the years, I’ ve come to appreciate how these differences impact global money movement. For example, the EU’ s PSD2 framework prioritises open banking and consumer protection, while the US tends to foster innovation through a more marketdriven approach. Meanwhile, regions like Africa and Asia are leading the way in mobile money and digital wallets, often bypassing traditional banking systems altogether.

This regulatory divergence creates significant complexity for cross-border payments, driving up costs and slowing transactions. While some argue for consolidation to create a unified global framework, I believe that approach could stifle innovation and overlook regional needs. Instead, I think the focus should be on interoperability – developing tools and standards

Carol Grunberg, Chief Business Officer, Yuno

that allow diverse systems to work together seamlessly. Technologies like payments orchestration, APIs and realtime payment networks hold immense potential, but their success depends on collaboration between regulators, fintechs and traditional financial institutions.

Looking ahead, I believe payments regulation must strike a balance. We need to harmonise core principles like transparency, security and fraud prevention while allowing room for regional innovation. By fostering global dialogue and leveraging emerging technologies, we can simplify crossborder payments without sacrificing the unique strengths of each market.”

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