In this episode, we welcome Eric Ducoulombier, who is in charge of payments regulation at the European Commission. He reflects on the successes and challenges of these regulations, particularly in the areas of open banking and fraud prevention, while acknowledging the complexities of enforcement and the role of national authorities in ensuring compliance. We discuss the balance between regulation and market solutions providing a comprehensive overview of the current state of European payments and the future challenges and opportunities that lie ahead, particularly focusing on instant payments, the upcoming PSD3 and PSR, as well as stablecoins and AI.