Romanian banking sector faces AI-driven payment overhaul and rising online fraud risks

Financial analysts in Romania say artificial intelligence and tokenisation could gradually render traditional card payments obsolete. Digital assistants may soon perform purchases autonomously, while tokenisation replaces card data with secure codes to curb fraud. Visa senior vice‑president Michele Herron warned that current payment systems no longer meet modern consumer expectations and highlighted the rapid growth of instant, real‑time transactions.

At the same time, Romanian law obliges banks and other payment‑service providers to fully reimburse consumers targeted by online fraud such as phishing, identity cloning or unauthorised card transactions. Under Law no. 209/2019, which implements the EU Payment Services Directive, victims must notify police promptly and can claim immediate refunds without charges. Providers are also held jointly responsible for failing to remove fraudulent content that facilitates such scams.