Seven countries issued a statement on the European Payments Initiative.
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"We are fully cognisant of our citizens’ expectations regarding secure, efficient and accessible and affordable payment services", Belgium, Finland, France, Germany, the Netherlands, Spain and Poland said.
"Following the general trend that our economies are experiencing, payment solutions are getting increasingly digital, and new services based on instant payment have been successfully deployed in many countries. Citizens expect faster, safer and more efficient payment solutions, and a greater amount of choice in providers and solutions.
"We share the objective of an efficient EU internal market for payments, and have long been committed in ensuring smooth, well functioning payment solutions. Much was achieved since the introduction of the euro, most notably with the creation of the Single Euro Payments Area (SEPA) in 2012, and the harmonisation of the EU retail payments legislation.
"However, payment services in the EU remain fragmented. Domestic payment solutions based on cards or credit transfers currently remain, to a significant degree, fragmented along national borders, and there is a lack of interoperability between existing national solutions, schemes and infrastructures.
"At the same time, the EU market remains largely dependent on solutions offered by non European actors, both at points of sale and online. Furthermore, unnecessary burdens to the internal market for payments persist. As payments and payment data have become strategically and economically significant, action is more than ever needed.
"We firmly believe that time has come to build a genuine “Europe of paymentsâ€. An integrated, open market for electronic payment solutions, with no distinction between national and cross border payments and no unnecessary barriers is necessary for advancing the internal market.
"This would increase competition and innovation, with potential gains for the consumer. Furthermore, it is a matter of strategic autonomy in a vital market.
"A European grown common payment solution would reduce risks and vulnerabilities in retail payment systems and would contribute to keep control over sensitive payments data, thereby better protecting our citizens. To that extent, we encourage all initiatives aiming at further harmonising the EU payment services market and at offering new, innovative payment solutions. We remain committed in combatting all undue hurdles to a smooth functioning of the internal market, such as IBAN discrimination." ■