The European Commission welcomes the agreement reached today by 16 major Eurozone banks from Belgium, France, Germany, Spain and the Netherlands towards the creation a unified payment solution for consumers and merchants across Europe.
The Commission, which will adopt later this year its own strategy for
retail payments in Europe, fully supports the European payments
initiative as a new, ambitious and European project. The Commission
believes that EU citizens and businesses should benefit from fast,
efficient and reliable payments solutions. The European payments
initiative – EPI would be a critical and decisive step in that
direction.
Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People said: “The
European payments initiative fits into our ambition that European
consumers and businesses should have access to fast, efficient and
competitive payment solutions. I hope banks from other countries,
innovative European fintechs and other European payment service
providers will join the first 16 members, bringing their own expertise
and assets to this ground-breaking project, and making it even more
innovative and competitive at global level”.
The Commission welcomes the invitation made by EPI to European market
players, individual banks or banking communities, as well as
third-party payment service providers to apply and join EPI as a
founder.
EPI is now launching its implementation phase. It is expected to become fully operational in 2022.
European Commission
© European Commission
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article