The European Card Payment Association (EPCA) has released a white paper which shows that in 2024 there were over 263 million European Card Scheme (ECS) payment cards in circulation, which made 31.5 billion transactions last year alone, Finextra reports.
However, the payments space is dominated by Visa and Mastercard, who between them process 65% of euro area card payments, while US tech giants such as Apple, Google and PayPal are also gaining popularity.
The EPCA’s paper explores the urgent need to protect the sovereignty over payment infrastructure in Europe offered by ECSs, amid challenges such as the current American administration’s increasingly isolationist approach or unpredictable geopolitical events such as the ongoing conflict in Ukraine.
The strategy calls for the development of a comprehensive payments and industrial policy that ensures at least one EU-based payment method is always available to European consumers and businesses alongside the continued development and widespread adoption of European open standards, such as CPACE.
Download the full white paper: Safeguarding Europe’s Financial Future – The case for European Card Scheme leadership
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
