Card payment solution providers across Europe and the world have formed a new association; Payments Europe.
The body will represent card issuers, card acquirers, card schemes, and other stakeholders in the cards sector.
Furthermore, the aim of the association is the present the industry’s common views and contribute to key policy debates in the EU. It also wants to advocate for a fair regulatory environment for payment providers in Europe.
The association is based in Brussels and is composed of 13 founding members. These are:
- ACCIE (Association of Credit Card Issuers Europe);
- AirPlus International;
- APERO (Asociatia de Plati Electronice din Romania);
- A.S.P.S. (Associazione Prestatori Di Servizi Di Pagamento);
- Bank of America;
- BNP Paribas;
- Card Payment Sweden;
- DKB (Deutsche Kreditbank AG);
- Lloyds Banking Group;
- Optal, and
Kurt Gjesten from Card Payment Sweden said: “This is the first time that the European and global card-based payments industry is coming together in an association to present a common view to EU policy-makers about the issues that matter to our industry. We are confident that our new association will be able to make a real contribution to upcoming EU policy debates.”
“With the European payments market going through significant change driven by consumer demand, technological innovation as well as regulation, it is our ambition to showcase the value the card-based payments industry brings to the wider EU economy,” Francesco Cerlienco from Citi added.
Roeland Van der Stappen from VISA concluded: “Our clear mission is to support a vibrant, innovative, and competitive European payments market, that is based on a balanced regulatory framework and puts consumers and consumer protection at its heart.”
The number of card payments made by consumers and businesses in the euro area has increased by more than two-fold during the last ten years, revealed a report by the European Central Bank.
As per the statistics, an average of 121 card payments per capita was recorded last year, versus 56 in 2008.
Despite a rise in the number of card payments, the average value of each card payment decreased from €54 in 2008 to €44 in 2018.
Card payments accounted for approximately half of the total number of non-cash payments across the single-currency area last year.