ECPA urges action to preserve European payment sovereignty

The report reveals that over 263 million ECS-issued cards were active in 2024, processing a total of 31.5 billion transactions during the year. 

The white paper, titled Safeguarding Europe’s Financial Future, places this data within a discussion about European strategic autonomy in payments. It presents ECSs as a cornerstone of regional infrastructure and stresses the importance of reducing reliance on non-European platforms, especially in the context of an unpredictable global environment shaped by geopolitical tensions and shifting policies from international partners.

A call for policy support

ECPA’s report urges policymakers across the European Union to adopt measures aimed at preserving regional control over the payments sector. Among the recommendations are the promotion of open European standards and policies that ensure at least one EU-based payment solution is always available to both consumers and businesses. It also calls for regulatory efforts that create a balanced environment for both ECSs and global operators, along with improved mechanisms for infrastructure sharing and cross-border acceptance. 

The document supports the European Commission’s emphasis on payments-related strategic autonomy. The timing of the release also coincides with recent public remarks from the President of the European Central Bank, who in April advocated for Europe to move away from reliance on international platforms in favour of domestic alternatives. 

Officials from ECPA described ECSs as not only continuing to grow in usage but also playing an important role in protecting Europe’s financial resilience. According to the association, sovereignty over payment systems is directly tied to economic independence. The organisation stated that further cross-border cooperation among domestic schemes, supported by regulators and financial authorities, is necessary to achieve a sustainable, autonomous payment infrastructure across Europe.