The Eurosystem is doing its bit by closing the gaps in the pan-European settlement of instant payments through TIPS. That’s something else we heard about earlier today. While regulators are there to create conditions for fair competition, it is up to the private sector to roll out attractive pan-European payment solutions. The European Payment Initiative, EPI, has made noticeable progress in this regard.
Just yesterday, EPI announced that Wordline and Nets are joining forces. Even more, the European Commission and the Eurosystem highly appreciate the EPI’s efforts and will continue to support its endeavours. The instant payment vision is a necessary next step forward for the current payment system. Yet, a programmable digital euro could emerge as a game changer for European payments.