for development of retail payments are in the process of implementation on our domestic payments market. a still open question is whether the changes in the people ’ s payment habits will stay as a permanent feature and will set a direction for the forthcoming technical developments in the payments sector. in this very dynamic area the eu regulators will continue playing an active role. i wish interesting and productive work to all the participants in today ’ s financial forum. 2 / 2 bis central bankers'speeches

broader effort of the central bank community to enhance interoperability between different systems and schemes at the international level. the bank of greece is a warm supporter of such initiatives. and in what regards the payments environment in greece, it takes concrete actions, using the full potential of its different institutional roles – as policy maker, as system operator and as fiscal agent of the government. the bank of greece is keen, in that context, to make use of this particular momentum of a broader effort that is now unfolding to digitalize the functions of the greek public sector. historically, the bank of greece had the role of initiator for critical infrastructure projects in the financial sector, among which was the setting up the greek retail payment scheme. and today the central bank remains the main actor behind the particular scheme ’ s constant innovation and integration in the eu payments landscape. an important milestone, in this context, has been the adherence to target instant payments scheme ( tips ) at the end of 2021. another important milestone coming soon is the bank of greece ’ s launch of sepa - instant for government - related payments, whereby the central bank will become a tips participant on behalf of the government. the plan is to bring instant payments to the citizens ’ everyday interactions with public sector entities and will be established very soon. in a broader perspective, the bank of greece has recently adopted policies to embrace innovative projects and ideas, through its newly established innovation hub and the activation of a regulatory sandbox. the bank of greece has partnered also with other institutions ( such as the ebrd ) in the context of such initiatives, with the aim to support an ecosystem of new and innovative market players, primarily in payment - related areas and promote new areas of collaboration with the market. as regards the broader payment landscape and payment habits in greece, it is important to note that changes have taken place in the last 5 years : - a constantly strong move towards cashless payments – with card payments still dominant in that move ; - large increase in digitalization of financial transactions, with efficiency gains for all parties involved - introduction of innovative instruments and applications with new players in the market. greece ’ s infrastructure of extended point - of - sale networks, already in place for many years, has attracted strong market interest from the merchant acquiring business perspective. in that respect, several acquisitions have recently taken place and new institutions are being licensed and established. instant payments are also progressing in greece – though at a slower pace, as observed also elsewhere in europe.