EPI aligns with EC to broaden instant payments support

Wednesday 29 March 2023 15:10 CET | News

EPI Company has expressed its support for the European Commission's proposed legislation on instant payments, which aligns with the Commission's Retail Payments Strategy. 


EPI Company has expressed its support for the European Commission's proposed legislation on Instant Payments, which aligns with the Commission's Retail Payments Strategy.


The proposed regulation would make instant payments available to all European citizens, including individuals and businesses/merchants, on both the issuing and receiving sides. This would reinforce the unity and sovereignty of European retail payments and improve the intra-EU capabilities for exchanging cross-border transactions.

EPI Company considers Instant Payments to be the best possible solution to the issues of fragmentation and vulnerability in the European payments landscape. Instant payments have the potential to address a wide spectrum of payment situations and are a genuine innovation that brings value to consumers, merchants, and businesses across a diverse range of payment use cases, according to the company. EPI has developed a full payment scheme making instant payments ‘commerce ready’ and considers them to be a worthwhile investment.

Instant payments are transferred directly from one payment account to another, without unnecessary intermediary accounts or form factors in the middle, reportedly ensuring transparency, efficiency, and performance, including for ecommerce and in-person payments. It also increases trust and overall security in the payment process. EPI Company believes that the proposed regulation will enable open competition between private actors in the market, as well as the future development of all European digital account-to-account solutions.

EPI Company invites the European Commission to safeguard a fair business model for all stakeholders, which will benefit future innovations and development of this new means of payment for the Retail market. EPI Company looks forward to contributing to an efficient implementation of the regulation, together with the European Commission and all relevant market players.

In conclusion, EPI stated that remains conscious of the continuous investments made by the private sector to enable this capability on behalf of European citizens and would like to emphasise the importance of allowing fair remuneration for the services that will be provided.

More about EPI

If you would like to find out more about the initiative, The Paypers sat down with Martina Weimert, CEO of EPI Company, about the latest announcements and developments and future plans for the EPI project. We encourage you to read the interview to discover more about EPI.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: EPI, instant payments, banks, Open Banking, regulation
Categories: Banking & Fintech
Companies: EPI, European Commission
Countries: Europe
This article is part of category

Banking & Fintech



European Commission

Discover all the Company news on EPI and other articles related to EPI in The Paypers News, Reports, and insights on the payments and fintech industry: