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Instant payment, EPI: what is being achieved ​ and challenges ahead

Day 1 Morning

Wednesday 23 February

Room :

QUEEN MARY (ground floor)


Burkhard Balz
Member of the Executive Board - Deutsche Bundesbank
Public Authorities
Piero Cipollone
Deputy Governor - Banca d'Italia
Päivi Heikkinen
Head of Payment Systems Department - Bank of Finland
Industry Representatives
Eric Tak
Global head of the Payments Centre - ING Group
Martina Weimert
Chief Executive Officer - EPI Interim Company SE

Objectives of the session

More than 20 years after the introduction of the euro, many private and public initiatives be they technical of legislative, e.g., SEPA, EPC, ABE, TIPS, EPI, PSD, … have been heading toward further integrating the EU retail payment market. However, at present a large proportion notably of cross border payments in the EU are still handled by non-EU international institutions raising possible sovereignty challenges.

In addition to these integration ambitions, the EU retail payment market needs to provide market participants and merchants with technical and commercial architectures and schemes, which enable agility and triggers swift innovation in the context of ever developing EU consumers needs and expectations in the fields of Internet and mobile phones.

In this context, the session is intended to outline the main success factors of the initiatives underway and their ability to contribute to the emergence of an effective EU retail payment single market.

Questions to be addressed

  1. Why is a single EU Instant Payment System needed? Why is further cross border interoperability necessary for EU retail payments?
  2. What are the essential building blocks of an effective and innovative Single EU retail payment area and their contribution to accelerating the integration and autonomy of the retail payment market and fostering innovation and competition?
  3. Is the integration of the EU retail payment space moving forward fast enough? What are the main sources of reluctance to adopt the proposed EU level infrastructures and schemes in certain EU Member States? What are the issues the EU needs to address to achieve these evolutions?