Top European PSPs form the Digital Payments Industry Alliance

The EDPIA believes the payments sector needs a better ecosystem

the EDPIA

Top European PSPs form the Digital Payments Industry Alliance. Source: unsplash.com

Ingenico Group, Nets Group, Nexi, and Worldline have announced the launch of an EU advocacy alliance gathering Europe’s leading independent payment services providers.

The European Digital Payments Industry Alliance (EDPIA) aims Europe to become a global leader in digital payments. As a result, it can drive the completion of the Digital Single Market to benefit consumers, businesses, and the public sector.

According to a statement, the EDPIA is the only trade body representing specialized digital payment services providers that are all headquartered in Europe and don’t engage directly in banking services.

The development of digital payments is a fundamental driver for innovation, modernization, and growth in Europe, with a strong positive social, economic, and environmental impact. This development is key to enable modern, effective, and secure omnichannel commerce for all merchants - including small ones - who represent a strategic sector for the European economy. The EDPIA will work with all key stakeholders and policymakers to build a world-class payments ecosystem, boosting digitalization in Europe for the benefit of all European citizens, enterprises, and public administrations. This ecosystem certainly includes banks, who are and will remain essential
Paolo Bertoluzzo, CEO of Nexi and Vice-President of the EDPIA

The EDPIA believes the EU should lean on the EU’s SEPA project, which will allow new technologies like account-to-account payments to prosper. That’s the way of stimulating an innovative payments ecosystem.

Despite card payments will remain important in the future, these new technologies bring desired diversity. Therefore, the EDPIA intends to invite relevant stakeholders to a physical launch event in Brussels once the COVID-19 crisis is over.

We’ve reported that La Banque Postale, subsidiary of La Poste Group, announced the expansion of global digital payment services, powered by Western Union. The integration will allow more than 7 million online registered La Banque Postale customers to access Western Union’s international payment services.

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