Starting last autumn, the market of low-value paymentintermediation, dominated by banks in the past, has been opened tocommercial companies, as well. The rising competition should bringlower tariffs for clients.
Not less than 28 EU payment institutions have notified the NBRabout their intention to provide services directly on the domesticmarket, on the basis of the European financial passport.
Practically, these institutions will be able to handle paymentservices for the population.
"It's important to say these are very well positioned operators,with presence in several countries, which have a very goodtechnical infrastructure and can thus have much lower costs. Thisis where competition is coming from," said Adrian Apolzan, chairmanof the Electronic Payments Association in Romania (APERO).
Still, the impact of payment institutions on the domestic marketis still modest.
Besides the 28 foreign payment institutions to have notified theNBR, two domestic companies were also licensed this summer:Meridiana-Transfer de bani and Posta Atlassib Curier Rapid, bothheadquartered in Sibiu.
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