The European Payments Initiative: The next big thing in European payments?

Ewald Judt and Malte Krueger
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Ewald Judt: Honorary Professor, Vienna University of Economics and Business, Austria

Journal of Payments Strategy & Systems, 2021, vol. 15, issue 3, 319-331

Abstract: Proposals for a European Card Payment Scheme (ECPS) to supplement the existing European Scheme for Credit Transfers and the SEPA Direct Debit Scheme have been under discussion since before the turn of the century. Since 2020, however, progress has entered a new phase, with banks from five European countries announcing the implementation of the European Payments Initiative (EPI). This paper describes what happened to the ECPS prior to the turn of the millennium and how things have developed since then. It then goes on to analyse the challenges the EPI must overcome to become an ECPS, the success of which would bring a degree of European sovereignty over payments.

Keywords: acquiring; card payments; mobile payments; internet payments; European payment scheme; instant payments; payment scheme; payment service provider (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2021:v:15:i:3:p:319-331

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