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Standardisation: A conditio sine qua non for efficient payment services
Standardisation is an essential condition for delivering cost-effective, secure and easy to use payment services to customers. The cost of retail payments instruments in Europe are about 1 per cent of GDP. The globalisation of trade and the development of e-commerce require that national approaches to legal and technical standards should no longer be supported by policy makers and market participants (suppliers and buyers).
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Gerard Hartsink is Chairman of the Global Legal Entity Identifier Foundation. He is also a member of the World Trade Board, the International Chamber of Commerce Digital Economy Commission and the Dutch government’s Forum Standaardisatie. His previous roles include Senior Executive Vice President of ABN AMRO Bank, Chairman of CLS Bank International and the European Payments Council and Board Member of SWIFT, LCH.Clearnet Group, Euroclear Netherlands and the Euro Banking Association.