Rupert Keeley (CEO of PayPal, Europe Middle East North Africa) welcomes Luc Frieden (Minister of Finance, Luxembourg)
On 28 May in Brussels PayPal launched a new vision for regulation in the payments area, which can serve as a regulatory reform model for policymakers across to globe. In a well-attended event opened by Luxembourg’s Minister of Finance Luc Frieden, PayPal EMEA CEO Ruper Keeley presented this new approach that will harness the power of data and analysis to allow regulators to achieve better real world results. By gathering data, analyzing, measuring, and regularly adjusting the process as necessary, governments will better fight financial fraud, ensure the stability of the system and foster economic growth and innovation. Minister Frieden opened the event and stressed his government’s willingness to engage with companies like PayPal to discuss how to best regulate electronic payments to foster growth and innovation. Rupert Keeley reiterated PayPal’s commitment to work with decision makers as a thought leader in this area. He praised the EU for being at the forefront of regulation for electronic payments and invited them continue in this role. Mark Fell, CEO of Carrè Strauss, presented his vision for a SMART approach to regulation and compared to progress made also in other areas. Erik Nooteboom from the European Commission reacted to the ideas positively and encouraged all parties to continue this discussion.
This event marks that start of a global initiative by PayPal to encourage the creation an environment of innovation and cooperation in the field of regulation.
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