MONEI joins the European Payments Council (EPC)
We are pleased to announce that MONEI strengthens its link with the European Payments Council, becoming an official member of this entity. This strategic alliance represents a significant achievement in our journey, establishing us as a crucial player in the transformation of the payment landscape in Europe.
This membership, alongside 4 leading companies in the industry (Paynetics AD, Stripe, Visa Direct, and global bank BNP Paribas Fortis), highlights MONEI's outstanding role in the payments industry on a European scale.
In September 2022, MONEI already started its cooperation with the EPC by joining the SEPA Request-to-Pay (SRTP) network, becoming one of the first official providers of this solution.
Alexandre Saiz, founder of MONEI comments: “At MONEI, innovation is at the heart of everything we do. We constantly push the boundaries to revolutionise payment solutions, embracing every angle—no matter how unconventional—to simplify and enhance financial transactions for businesses and individuals. Joining the EPC reflects our unwavering commitment to driving progress and shaping the future of the payments ecosystem.”
What is the European Payments Council?
The European Payments Council (EPC) is an essential body for the harmonization of payments in Europe. Its main objective is to create and implement payment standards and systems that simplify cross-border euro transactions, reducing costs and increasing efficiency.
An outstanding example of this work is the SEPA (Single Euro Payments Area) system, which has unified euro payments throughout the Eurozone, making it easier for consumers and businesses to make and receive payments easily and securely, regardless of the country they are in.
What are the future prospects for the EPC?
The future of the European Payments Council revolves around expanding the SEPA ecosystem, promoting instant payments and harmonizing payment frameworks to accommodate innovations such as the digital euro and open banking within the evolving PSD2/PSD3 framework. The EPC is poised to address improvements in international payments, aligning with global initiatives such as the G20 roadmap, while advancing security and fraud prevention through enhanced standards and framework compliance.
Emerging technologies such as blockchain, AI and IoT will shape EPC modernization efforts, along with an increasing focus on the sustainability of payment systems.
Challenges include managing regulatory fragmentation among member countries, competition from fintechs and BigTech, and infrastructure upgrades. By prioritizing interoperability, collaboration, innovation and user-centric policies, the EPC aims to steer the European payments ecosystem towards a more unified, secure and innovative future.
MONEI
MONEI is the leading omnichannel payments platform in Southern Europe.
