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Recital 2

Recital 2

(2)Payment systems are identified as SIPSs if they fulfil identification criteria related to size, market share, cross-border activity and the provision of settlement to other financial market infrastructures, as specified in Regulation (EU) No 795/2014 (ECB/2014/28). However, fast moving technological trends coupled with changing consumer preferences may give rise to fundamental changes in the way payments are made. Against this background, it is important that all potentially relevant factors of systemic importance be taken into account and therefore an additional, flexible and forward-looking methodology for the identification of payment systems as SIPSs should be put in place to ensure that such payment systems are subject to the highest applicable oversight standards as laid down in Regulation (EU) No 795/2014 (ECB/2014/28).

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