European and global card-based payment solution providers are coming together to strengthen the voice of the industry and to form a new association: Payments Europe. The new body represents card issuers, card acquirers, card schemes and other stakeholders involved in card-based payment solutions.
European payments industry forms new association: Payments Europe
The purpose of the new association is to present the industry’s common views and to contribute to key policy debates in the EU by advocating for a fair regulatory environment for payment providers in Europe.
Board member, Kurt Gjesten from Card Payment Sweden said: “This is the first time that the European and global card-based payments industry is coming together in an association to present a common view to EU policy-makers about the issues that matter to our industry. We are confident that our new association will be able to make a real contribution to upcoming EU policy debates.”
Payments Europe will promote the value that the card-based payments sector brings to the European economy, for both businesses and consumers. With nearly 70 billion payments in 2017, payment cards are the most widely used electronic payment instrument in the EU, accounting for more than half of all cashless transactions.
While an increasing number of alternative payment solutions have entered the market, card payments are still one of the fastest growing methods of cashless payments.[1] Its popularity has been spurred by innovative solutions such as contactless cards or mobile payments, of which our members have been at the forefront.
“With the European payments market going through significant change driven by consumer demand, technological innovation as well as regulation, it is our ambition to showcase the value the card-based payments industry brings to the wider EU economy,” Board member, Francesco Cerlienco from Citi adds.
Board member, Roeland Van der Stappen from VISA concludes: “Our clear mission is to support a vibrant, innovative, and competitive European payments market, that is based on a balanced regulatory framework and puts consumers and consumer protection at its heart.”
Payments Europe is based in Brussels and comprised of 13 founding members including: ACCIE (Association of Credit Card Issuers Europe), AirPlus International, APERO (Asociatia de Plati Electronice din Romania), A.S.P.S. (Associazione Prestatori Di Servizi Di Pagamento), Bank of America, BNP Paribas, Card Payment Sweden, Citi, DKB (Deutsche Kreditbank AG), Lloyds Banking Group, Mastercard, Optal and VISA.
[1] Source: ECB Study, Card payments in Europe – current landscape and future prospects: a Eurosystem Perspective https://www.ecb.europa.eu/pub/pubbydate/2019/html/ecb.cardpaymentsineu_currentlandscapeandfutureprospects201904~30d4de2fc4.en.html#toc2
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