The Dutch payment and securities system is generally secure, reliable and efficient. We endeavour to keep it this way and make improvements where possible.
The rapid developments in the payment landscape require that De Nederlandsche Bank (DNB) formulates a clear strategy and vision. For the period from 2018 to 2021, we have therefore formulated three key priorities. They are: stimulating innovation, promoting a robust electronic payment infrastructure, and working on a well-functioning cash payment chain . This is evident from our "DNB Payments Strategy 2018-2021", which we released today.
Stimulating innovation in the payment system
We seek to stimulate innovation in the years ahead.After all, consumers and retailers want rapid and simple payments, the economy benefits from them and they offer new opportunities to Dutch banks and businesses. We foster innovation by deepening our understanding of new technologies, such as those underlying cryptos, and supporting market initiatives. However, innovations also bring with them risks, such as operational disruptions and a possible violation of privacy. We remain vigilant against such risks.
A robust payment system in a rapidly changing world
The payment environment is changing rapidly, and this offers both opportunities and challenges. The Netherlands has a robust payment infrastructure that it is solid and dependable for users. It is fundamental that this remains the case in an ever-changing world. Robustness is therefore gaining importance in a changing and increasingly complex payments chain. In the years ahead, our efforts remain aimed at strengthening the resilience of individual institutions and the sector as a whole against cyberthreats.
Not a cashless society, but less cash
The number of cash payments is declining, but ready money still plays a role in society. Accordingly, we do not seek to achieve a cashless society. The dwindling proportion of cash transactions requires maximum efficiency in ensuring the universal acceptance, reliability and safety of cash, and reducing the associated costs.
The future of the payment system
We perform our payment system task in a world that is in a constant state of flux. In the near future, Dutch banks will process instant payments over a new payment infrastructure currently under development. Distributed ledger technology, which underlies the bitcoin, may offer new possibilities that could make payment markets more efficient and reduce costs.
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It is hard to say what the payment landscape will look like in three years' time, as developments in payments follow in rapid succession. That is why our payments strategy does not presume to tell the future and we will regularly discuss it with relevant parties. We strive to achieve a transparent payment system and to be transparent about it, thereby putting into practice our mission: working on trust.