Payments in flux: industry shifts in 18 months

Daniel Hurst, International Line of Business Head for Enterprise Payments, EMEA and APAC at FIS Global, told delegates at EBAday 2026 that the payments market has moved faster than many firms expected over the past 18 months. He described a hybrid market in which traditional payment rails, instant networks and emerging digital asset models operate alongside one another.

Hurst said the speed of change has left many institutions reacting to developments rather than following fixed roadmaps. Initiatives are emerging across banks, fintechs, infrastructure providers and regulators instead of being driven from a single central authority.

He identified several forces behind the shift: faster retail and wholesale payment systems, wider open banking connectivity, growing interest in tokenised assets, and experimentation with central bank digital currencies and stablecoins. Hurst described these elements as bringing digital assets into everyday payment planning and operations.

The absence of a single industry controller means standards, timetables and technical approaches differ by region and by provider. Hurst noted the variation affects how banks plan projects, run risk assessments and allocate budgets, and that firms face more partners and platforms to evaluate when implementing change.

On implications for transformation programmes, Hurst recommended that firms reassess governance and execution. He urged clearer interoperability, faster decision-making and adoption of adaptable platforms capable of supporting multiple payment formats and asset types. He also called for alignment of compliance and legal frameworks with new settlement models and tokenised instruments.

Daniel Hurst holds responsibility for enterprise payments across EMEA and APAC at FIS Global. His remarks were made at EBAday 2026, where industry delegates discussed how to manage competing technologies, regulatory responses and changing customer expectations in the payments sector.