CNB launches National Payments Forum to focus on the development of instant payments and combating fraud
On Tuesday, the Czech National Bank launched the new National Payments Forum, a platform for regular dialogue between the CNB and public sector representatives, participants in the payment market, professional associations and other relevant stakeholders. The aim of this new platform is to strengthen competition and security in the payments market. This will lead to faster, more accessible and more secure payments for the public and businesses.
Within the forum, the central bank will coordinate discussions and initiate concrete steps in the further development of payments. “The CNB’s supervision regards payment systems as one of the most critical functions of supervised entities. We take the view that modern and secure payments support trust in the financial system and the market economy as a whole,” said CNB Deputy Governor Jan Frait in his opening remarks.
He added that an important aspect of payment service availability is the ability to pay in multiple ways, not least because one technology may be temporarily overloaded or experience an operational outage. According to the Deputy Governor, the situation in the Czech Republic is still far from ideal in terms of payment alternatives. “One of the aims of this forum is to address this situation,” he noted. Another supervisory priority for the CNB, according to Deputy Governor Jan Frait, is to ensure significantly greater stability and availability of open banking interfaces.
In its initial phase, the forum will focus on two key areas: the development of instant payments and fraud prevention. Two dedicated working groups will therefore be established. The working group on instant payments will focus on expanding their use and improving the user experience.
“Our vision is for instant payments to become a fully-fledged competitor to the payment cards of multinational companies for payments in both online and bricks-and-mortar shops,” said CNB Bank Board member Karina Kubelková. In this context, she referred, for example, to the introduction of standards for payment QR codes. These would make it easier and quicker to scan payment QR codes, without having to open a banking app and locate the relevant function, as is currently the case. This would make this payment method more user-friendly.
Bank Board member Karina Kubelková also noted that the CNB had taken over the administration of the instant payments scheme rules from the Czech Banking Association earlier this year. She also announced the launch of ASAP payments in 2027. These will be similar to instant payments, but for bulk payments.
The second working group, focusing on fraud prevention, will aim to complement the existing activities of the Czech Banking Association and the Police of the Czech Republic. “The group’s agenda will include the implementation of the new EU payments regulation, which also targets fraud prevention. This will include effective information sharing at both national and European level and the introduction of verification of the payee by the payer before authorising a payment,” said CNB Bank Board member Karina Kubelková, who oversees the CNB’s Cash and Payments Department. The working group will also focus on analysing best practices from abroad and on how these can be applied in the Czech context. As part of fraud prevention efforts, the CNB aims to involve the largest providers of digital services – major technology companies operating key online platforms and communication tools, telecommunications operators, and the Czech Telecommunication Office as their regulator.
Representatives of the Ministry of Finance, the Ministry of Industry and Trade, the Czech Chamber of Commerce, the Confederation of Trade and Tourism of the Czech Republic, the Czech Consumer Association, the Police of the Czech Republic, the Financial Analytical Office, the Czech Telecommunication Office, other relevant associations and selected payment service providers also attended the meeting at the CNB Congress Centre. The forum will meet regularly and its outputs will serve as a basis for the further development of the market.
The CNB believes that the National Payments Forum will open up dialogue among key participants in the payments sector and become a platform that will actively shape the future of modern and secure payments in the Czech Republic.
Jaroslav Krejčí
CNB Spokesperson
