For three days between June 3 and 5, Amsterdam hosted the top industry professionals at a leading global fintech event – Money20/20 Europe 2025. Top executives, innovators, and thought leaders from around the world gathered in the heart of the Netherlands to discuss the key trends in financial technology and payments. Here’s what was on the agenda.
In 2025, the payment sector continues to evolve rapidly, driven by several key factors: tech innovation (e.g. artificial intelligence (AI) and notable developments in the crypto space), growing competition between fintech companies and traditional banks, and incessantly growing consumer demand for faster, safer, and more convenient transaction methods.
This year, the spotlight is on:
- The fragmentation of payment systems within the EU and ongoing efforts to unify Europe’s payment landscape, for example, through the Wero digital wallet launched by the European Payments Initiative (EPI);
- Cross-border payments, and how to make them cheaper, faster, and more secure;
- The use of stablecoins and the regulation of the broader crypto sector, especially under the MiCA (Markets in Crypto-Assets) regime;
- Optimization of open banking systems, particularly through the third Payment Services Directive (PSD3) and the Payment Services Regulation (PSR) legislative proposals;
- AI integration across all business areas, including compliance;
- The rise of Agentic AI — a new form of artificial intelligence solutions characterized by autonomous decision-making, and an ability to set goals, execute tasks, handle transactions, and adapt to changes in real time without direct human intervention.
Let’s dive into each of these topics in more detail.
Payment Landscape Fragmentation Undermines Unified EU Payment System
Despite the undeniable digitalization progress, the EU payment ecosystem remains siloed. Historically, each European country has successfully developed separate localized payment instruments. Thus, we have Girocard in Germany, Cartes Bancaires in France, and iDEAL in the Netherlands. Many EU countries continue to rely on domestic payment schemes despite the existence of newer pan-European alternatives.
These systems might efficiently function within their national markets; however, they have limited cross-border capabilities, which hinders the creation of a truly integrated multinational EU payments area envisioned by European leaders. Although SEPA (Single Euro Payments Area) made euro-denominated bank transfers simpler and cheaper, the situation with card payments and digital wallets remains unsatisfactory, as domestic schemes are not always accepted in other EU countries or interoperable.
The fragmentation creates several challenges for European fintech:
- various technical standards and data exchange protocols slow down the implementation of cross-border payment solutions;
- scaling innovations across the entire EU becomes complex;
- pan-European transactions remain limited to payment solutions of global players, such as Visa, Mastercard, and Apple Pay, while increased reliance on a few top firms creates an unwanted monopoly in the market.
Apart from economic disadvantages, a siloed approach proves to be inefficient in the current turbulent geopolitical circumstances. It becomes increasingly obvious that Europe needs to strengthen its financial system, becoming resilient against any threats and independent in its payment solutions rather than reliant on international providers. Therefore, the European Payments Initiative (EPI) and other EU-wide projects, such as the launch of the digital euro or the standardization of instant transfers (A2A), are now seen not merely as convenient technical solutions but as strategic steps toward creating a unified EU payment space.
How EPI and Wero Contribute to Payment Ecosystem Unification
New initiatives and platforms are emerging to address the fragmentation of the payments market. For example, the SWIFT gpi system enables tracking of transfer status, while multi-jurisdictional digital wallets like Wero aim to unify the European payments space.
Wero is a next-generation digital wallet that combines instant transfers, QR payments, “Request to Pay” functionality, loyalty programs, and other services in a single payment solution. It was launched by EPI, a pan-European initiative supported by a consortium of major European banks and financial institutions that aim to develop a single digital wallet and payment scheme functioning seamlessly across all EU member states.
Wero architecture is built under the Instant Payments Regulation, enabling real-time transactions between users across different countries. This removes cross-border transaction barriers related to currency conversion, fees, and the complexity of connecting to local payment solutions.
In the long term, Wero has the potential to become a key pillar of an integrated EU-wide payment ecosystem. A homegrown unified digital wallet can strengthen Europe’s payment sovereignty, reducing dependence on non-European payment giants, fostering competition and innovation in the EU area, and reinforcing the region’s digital infrastructure. At the same time, more efforts are still needed to truly unite separate EU national markets.
Cross-Border Payments: Challenges and Solutions
Tech progress and globalization of e-commerce aside, people both in the EU and across the world still face lots of challenges while making international transactions.
High Fees and Hidden Costs
Making international payments often comes with hefty charges and unexpected expenses that quickly add up.
Today, financial institutions increasingly experiment with fiat-pegged stablecoins like USDC or EURC to conduct cross-border transactions at a fixed currency exchange rate and with minimal fees. Besides, these alternative payment rails enhance financial inclusion for millions of people who lack access to traditional banking services.
Slow and Outdated Transaction Processing
Many cross-border payments still take 3 to 5 business days to complete, due to the use of correspondent banking chains, time zone differences, and manual processing along the way.
This issue is now addressed with the use of blockchain networks, where transactions no longer require intermediaries, including correspondent banks. That significantly speeds up transfers and reduces transaction costs, as each intermediary traditionally charges a separate fee. Moreover, recording all financial operations on a distributed ledger ensures full transparency and enables real-time tracking of payments. Blockchain-based cross-border payment solutions are offered by companies like Ripple, Stellar, and Sorare.
Regulatory Red Tape
Diverse national rules for financial policies like AML (anti-money laundering) and KYC (know your customer) create a maze of compliance requirements. As a result, fintech companies get caught in a red tape with more paperwork, slower transactions, and higher costs.
The use of AI in compliance and risk management helps reduce associated costs, automate and speed up verification processes, and avoid mistakes linked to manual methods. This automation is especially important for cross-border transactions, which deal with regulatory requirements that vary significantly across jurisdictions.
Lack of Transparency
Traditional payment systems rarely offer a clear view of where your money is, what fees are being deducted, or what exchange rate is being used, leaving users in the dark about the transactions they make.
Modern blockchain-based payment systems provide a transparent environment for financial transactions. Besides, Application Programming Interfaces (APIs) enable different payment systems and financial institutions to integrate quickly and efficiently. APIs can also provide real-time status updates on payments, so businesses and customers know exactly where the money is in the process, and often include fee breakdowns and live exchange rates before the transaction is confirmed. Platforms like OpenPayd, Banking Circle, and Thunes are already facilitating instant and more transparent international transfers without the need for complex banking infrastructure.
Currency Exchange Risks
Fluctuating exchange rates can lead to unexpected losses in the transaction process, especially when large international transfers are involved. One bad timing, and your business could take a serious hit.
Many fintech platforms offer real-time, market-based exchange rates. Some even allow users and businesses to lock in a specific rate for a future transaction (known as a forward contract). Fintech platforms like Wise, Revolut, or Payoneer offer multi-currency wallets, allowing money holders to wait for favourable exchange rates instead of converting instantly under pressure. The most advanced companies use AI and algorithms to monitor markets and recommend the most favourable conversion times or automate the process altogether.
Stablecoins and Crypto: Utility and Regulation
Both stablecoins and alternative digital assets were actively discussed at Money20/20 Europe 2025. Due to the recent legislative changes, cryptocurrencies have acquired new roles while their providers have faced more obligations in the European financial ecosystem.
Although few fintech leaders today deny the utility of cryptocurrencies, and stablecoins in particular, with their near-instant settlement, transparent transaction ledgers, and absence of intermediaries, for modern cross-border financial systems, the industry focus today is on the balance of innovation and customer protection.
As the European Union gradually implements new regulations under the Markets in Crypto-Assets Regulation (MiCA), stablecoins are facing unprecedented scrutiny within the European Economic Area.
MiCA is an EU-wide regulatory framework that establishes unified rules for the circulation of crypto-assets across all EU countries. Enacted in June 2023, the strict regulation aims to organize the market, protect investors and consumers, and integrate blockchain technologies into the financial system in a transparent and controlled manner. MiCA addresses crypto assets that were previously outside the scope of financial legislation and introduces standards for disclosure, authorization, and supervision of crypto issuers and service providers.
Just a few years ago, obtaining a license to operate in the virtual assets sector in the EU was quite easy, especially in countries with a welcoming business environment like Estonia. However, as the market became flooded with fraudsters and some stablecoin issuers went bankrupt, regulators were forced to reconsider their approach. The oversight got more rigorous up to the point where MiCA regulation changed the game not only for issuing companies but also for individual cryptocurrencies, including the stablecoin USDT.
To comply with the new regulation, at least 60% of stablecoin reserves must be held in EU-based banks. Besides, stablecoin issuers should provide detailed, regular disclosures on their reserves, audits, and operational changes. The Tether team has expressed its criticism of MiCA, including linked financial risks, privacy concerns, and how it goes against the innate decentralization characteristics of crypto and stablecoins. In particular, Tether CEO Paolo Ardoino has been vocal against cryptocurrencies relying so heavily on traditional banks, refusing to follow MiCA requirements. Therefore, the stablecoin with the largest market cap remains out of the EU’s current legislative framework.
As of March 31, 2025, the transitional period for crypto platforms to comply with MiCA’s stablecoin requirements ended. This has led to significant changes in how uncompliant stablecoins such as Tether (USDT) are utilized by exchanges, custodians, and end users.
Without a licensed entity authorized to issue USDT in the EU, exchanges that are MiCA-regulated were forced to delist the USDT-denominated trading pairs. While users in the EEA can still custody the affected tokens and trade them under perpetual contracts, they cannot trade them freely on regulated exchanges as before, which significantly reduces the asset’s utility.
Meanwhile, the second-largest stablecoin issuer, Circle, and its USDC and EURC tokens have received a timely license to debut in the European Union under one of the world’s most comprehensive regulatory regimes for digital assets.
New Phase of Open Banking Innovation
Open banking is not a novel fintech term, but it’s been one of the highlights of Money20/20 Europe 2025 panel discussions due to the updates like PSD3.
At some point, open banking became one of the key drivers of financial services transformation in Europe. This model allows third parties (such as fintech companies) to access customers’ bank accounts, with their consent, via standardized APIs. That significantly democratizes financial services, also boosting industry competition and user experience.
The open banking approach, established and standardized under the PSD2 Directive, has enabled multiple new convenient services like multi-bank apps, payment initiators, and financial analytics platforms, giving users greater control over their finances.
Today, Europe is preparing to implement PSD3 and PSR to eliminate the inefficiencies of the second directive and expand the initiative’s scope beyond banking to insurance, pension funds, and investment services.
In the realm of instant payments, the EU has also taken a bold step forward by adopting the Instant Payments Regulation, which obliges banks, starting from October 2025, to enable sending and receiving instant credit transfers in euros 24/7. At the same time, an additional precaution, a beneficiary name check, is being introduced for these transactions. Such a security measure aims to reduce transfer errors and fraud.
These initiatives not only accelerate innovation but also enhance Europe’s competitiveness in the global market, particularly compared to the U.S., where the real-time payment system FedNow has been launched only recently and is still not fully adopted across all banks.
AI Brings Payments to New Levels of Security, Personalization, and Compliance
Artificial intelligence is rapidly integrating into every layer of the financial infrastructure, from customer service to compliance and fraud prevention. In 2025, AI does not only support payment solutions but also sets new standards for their efficiency, adaptability, and security.
Real-Time Fraud Detection
AI doesn’t just detect fraud, it nips it in the bud. In milliseconds, advanced models scan thousands of transactions, pinpointing red flags like odd locations, suspicious behaviour shifts, or unusual transfer amounts. This is a game-changer for cross-border payments, where fraud risks spike and speed is everything. AI keeps you one step ahead of bad actors, stopping potential fraud before any damage is done.
Compliance Automation (RegTech)
Forget sluggish manual checks. AI-powered RegTech tools automate compliance with razor-sharp accuracy. They dive into every transaction to ensure it meets AML, KYC, and other regulatory demands in real time. Therefore, fintech players face fewer fines and delays, but get major cost savings and a seamless compliance process that finally matches the pace of modern finance.
Hyper-Personalized Financial Advice
AI-powered tools integrated into mobile apps today act like smart financial co-pilots. They analyze spending patterns on the go, warn users about potential overspending, suggest smarter ways to allocate funds, and help manage liquidity in real time. This efficient, hyper-personalized experience significantly surpasses common budgeting advice, relying on one’s specific financial circumstances, habits and goals.
Back-End AI Brings Companies Operational Superpower
Leading payment providers aren’t just using AI for customer-facing perks, like chatbots and personal financial advisors. Instead, they’re deploying it deep inside their in-house systems. AI enables demand forecasting, real-time risk monitoring, and spotting bottlenecks in processing flows before they become costly problems.
AI-driven streamlining of back-end operations gives fintechs a serious competitive edge. Therefore, artificial intelligence is fast becoming the cornerstone of next-gen payment infrastructure — intuitive, resilient, and built to adapt instantly to change.
Agentic AI Changes Approach to Payment Infrastructure
Agentic AI refers to artificial intelligence systems designed to act with minimal human oversight. Unlike traditional AI tools (like those for language processing or image recognition), AI agents don’t just process inputs and produce outputs under user guidance and a fixed set of instructions. Instead, they set goals, make decisions, and act independently in dynamic environments. With an ultimate mission in mind, agentic AI tools can self-direct and initiate required actions, changing course if needed in response to the altering circumstances.
When it comes to payment technology, Agentic AI is now seen as a game-changing foundation for next-gen intelligent financial management systems that can:
- Automatically identify the most cost-effective transfer methods;
- Choose the optimal timing for currency exchange;
- Manage enterprise cash flows in real time;
- And even negotiate with service providers based on the user’s pre-set financial goals.
Such autonomous decision-making could redefine how both individuals and businesses interact with money. In addition, AI agents can significantly facilitate regulatory compliance, being able to monitor emerging requirements, adapt to them automatically, and proactively detect potential risks not just by analyzing historical data, but by factoring in real-time context and regulatory changes as they happen.
Agentic AI Limitations
Although the industry players are already working on payment infrastructure and marketplaces catering specifically to the peculiarities of agentic AI purchases, the use of AI agents for financial transactions creates a series of ethical and legal discussions.
Who is responsible for an agent’s actions? How can we ensure its decisions are ethical? And, most importantly, how do we prevent scenarios where the agent acts against the user’s best interests? These are some of the key questions surrounding Agentic AI, the answers to which were sought at Money20/20 Europe 2025.
Today, the technology is still in its early stages of adoption, but industry leaders are already piloting its use in real-world payment scenarios. From dynamic fund allocation to autonomous financial negotiations, Agentic AI is redefining what’s possible in fintech.
Crucially, this isn’t just about adding a smarter tool to the stack. Agentic AI ushers in a paradigm shift, transforming the entire logic of financial interactions. We’re gradually moving from user-initiated actions to goal-driven agents that can operate semi-independently. That shift holds incredible promise, but also demands new frameworks for accountability, transparency, and trust.
Money20/20 Europe 2025: Key Conference Details
All the topics mentioned above and more were discussed under the roof of the annual industry gathering that brings together industry influencers, top fintech players, and high-skilled professionals. Money20/20 Europe 2025 remains a leading platform for discussing the key challenges, trends, and transformations shaping the payments industry, although the number of participants was slightly lower this year, partly due to higher ticket prices.
As previously noted by the event organizers, this year’s conference featured:
- Around 2,300 exhibitors showcasing their products, services, and innovative developments;
- Over 4,000 visitors representing 1,900 companies;
- Presentations from 350 leading fintech industry speakers sharing the latest research, in-depth analyses, market trends, technologies, and other industry breakthroughs;
- Live interactions with experts, innovators, top executives, and potential partners;
- Intense program of parallel events, panel discussions, and presentations, offering a deep dive into the future of financial technology.
