This paper discusses Europe’s initiative to develop a unified, secure, and sovereign digital payment system. It analyzes the initiative’s architecture—combining real-time payments, card systems, and mobile wallets under EU governance. HCLTech outlines opportunities for banks and fintechs to modernize legacy systems, improve interoperability, and comply with PSD2 and GDPR. The framework promotes financial inclusion, innovation, and resilience in Europe’s evolving payments landscape.

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