Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
The European Payments Initiative: The next big thing in European payments?
Journal of Payments Strategy & Systems,
15
(3),
319-331
(2021)
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
The full article is available to subscribers to the journal.
Author's Biography
Ewald Judt is an honorary professor at the Vienna University of Economics and Business, where he is active in both teaching and research. His previous roles include president of the Austrian Association of Financial Marketing and managing director of Eurocard Austria and its successor companies, Europay Austria and PayLife Bank. He has a doctorate in economics and social sciences from the Vienna University of Economics and Business.
Malte Krueger is Professor of Economics at the University of Applied Sciences in Aschaffenburg. He holds a PhD in economics from the University of Cologne and has worked as a research fellow for the Bank of Spain, the University of Western Ontario, the University of Durham, the University of Karlsruhe, the University of Applied Sciences in Frankfurt and the European Commission. He also works as a consultant for PaySys Consultancy in Frankfurt.
