The European Digital Payments Industry Alliance (EDPIA) welcomes the opportunity to provide its members’ views to the European Commission’s public consultation on instant payments. The EDPIA sees the benefits this could bring for a competitive European payments market.
Key EDPIA messages on instant payments:
- Should an existing infrastructure be used, it would need to be inclusive for non-banks to ensure a level playing field;
- Finding a solution to instant fraud is crucial to the success of instant payments uptake in the EU;
- Multiple payments options should be available to end-users;
- A voluntary approach by the European Commission would allow the European payments landscape to naturally develop towards instant payments.
Continued dialogue between the regulators and industry stakeholders would be paramount in the development of EU-wide instant payments. The EDPIA and its members stand ready to work together to achieve this goal.