Digital payments are undergoing a phase of dynamic development, gradually transforming the way banks, EMIs and Payment Institutions manage transactions and deliver services. With speed, flexibility and immediate access to data as their core characteristics, electronic payments no longer function merely as a supporting infrastructure, but as a fundamental pillar of modern financial strategy.
This new landscape was precisely the focus of discussion at the 13th Banking, Payments and Fintech Forum and Expo, presented by Logicom. The panel discussion entitled 'The Cyprus EMIs / Payment Institutions' saw experts analyse the momentum of digital payments, the growth of electronic money, and the way a new, more collaborative financial ecosystem is taking shape.
Real-time data and open infrastructures
Panayiotis Theodosiou, Chief Operations Officer of Moneygate by Treppides, stressed that market expectations have shifted decisively towards real-time operations. As he noted, businesses now demand immediate access to data, notifications and transaction confirmations in real time, making system interconnectivity a critical requirement.
In this context, he underlined the importance of open APIs, pointing out that modern financial infrastructures must enable interoperability with accounting systems, reconciliation processes and commercial applications. “The need for data is no longer confined within the financial institution itself, but extends across the entire ecosystem,” he noted characteristically.
Payments as the core of financial operations
Christia Evagorou Papamichael, Group Deputy CEO of payabl., highlighted the transformation of payments from a simple front-end function into a central element of businesses’ financial operations. As she explained, payments are no longer merely a tool for online merchants, but have evolved into a full treasury function, positioned at the heart of clients’ day-to-day financial management.
According to the expert, increased complexity is not a negative development, but rather the result of market maturity and the growing need for solutions that address multiple operational requirements, from liquidity to risk management.
Payments as a point of understanding real needs
Andreas Vassilopoulos, Founder & Managing Director of Sliq | Sliq Business, noted that although payments have existed for decades, they traditionally operated “in the background.” With the rise of EMIs, payments have moved to the forefront of the customer experience, becoming faster, simpler and more accessible.
As he stated, today, payments function as a point of understanding the real needs of businesses and consumers, upon which additional services can be “built,” such as microfinancing, FX, crypto, savings, trading, or other non-financial services.
Competition, complementarity and collaboration
Vicky Christophidou, AMLCO / Alternate Chief Compliance & Risk Officer at ECOMMBX, referred to the intensely competitive environment emerging in the payments sector, where execution time, efficiency, and the quality of merchant and POS services are critical differentiating factors. As she noted, competition now extends into areas such as liquidity, FX and data utilisation.
At the same time, she emphasised that EMIs and banks operate in a complementary rather than competitive manner. Banks ensure the safeguarding of funds, liquidity and correspondent banking relationships, while EMIs offer flexibility, innovation and modern front-end solutions. Within this framework, digital onboarding, open banking and the PSD2 regulatory framework act as catalysts for collaboration and the joint transformation of the market.
The discussion was moderated by John Georgoulas, Chairman of ACEMPI.
Main Sponsor
Logicom Solutions
Gold Sponsors
ECOMMBX, Freedom Holding Corp., PwC Cyprus
Silver Sponsors
Moneygate, Parsectix, Sliq
Strategic Partner
Cyta Business
Sponsors
GZG, IMR/University of Nicosia™, Teroxx, payabl
Supporters
Alpha Bank, Bank of Cyprus, CDB Bank, Eurobank, National Bank of Greece (Cyprus), SGBCy
Exhibitors
EFFECT, Ellinas Finance, JCC Payment Systems, KLIDI, Profile Software
With the support of
ACB, ACEMPI, CFA Society Cyprus
Media Sponsors
CBN (Cyprus Business News), GOLD magazine, IN Business magazine, Omega TV, Reporter, Super FM
Organiser
IMH
