Brussels, 28 June 2023 – The European Digital Payments Industry Alliance (EDPIA) welcomes the @EuropeanCommission proposals on the #DigitalEuro, #OpenFinance and the review of the Second Payments Services Directive (#PSD2) published today and acknowledges policy-makers’ continued ambition to innovate the European #payments ecosystem.
EDPIA, the voice of the European headquartered independent payments service providers, welcomes the ambition shown by the European Commission with regard to innovation and believes the proposals can help Europe to become a global leader in digital payments.
To stimulate an innovative #payments ecosystem and ensure a rule-based competitive Digital Single Market, EDPIA believes co-legislators should consider the following principles to guide their work on these legislative proposals:
– Ensure a regulatory level playing field that encompasses the payments sector’s diversity, allowing the private sector to develop innovations through competition
– Take the appropriate measures to address market failures
– Harmonise EU payments legislation
– Encourage EU-wide active promotion of digital payment methods to the benefit of the whole society
– Promote innovation and do not crowd out existing private sector solutions
EDPIA strongly believes it is important to build bridges between policy-makers and the industry as a constructive dialogue and looks forward to further engagements with the European Commission, the Council of the European Union and the European Parliament.
The European Digital Payments Industry Alliance (EDPIA) represents the interests of European independent Payment Services Providers. Its purpose is to contribute to EU policy debates that define the business environment for electronic payments, and to strengthen the visibility and understanding of the European payments industry amongst policy makers and society as a whole. EDPIA’s broader objective is to support the EU’s objective to create a Digital Single Market, fuelled by digital payments. It is in favour of a strong, stable and properly enforced European regulatory framework that enables intense competition between transparent and market-based solutions, allowing them to compete for the trust of their European and global clients.