About EPIF

The European Payment Institutions Federation (EPIF) is an international non-profit association. It was founded in June 2011, in response to the adoption of the Payment Services Directive (PSD). The PSD established a new category of payment service providers (payment institutions) to encourage more competition at the European level.

Payment institutions are permitted to provide payment services alongside banks and other financial institutions. By means of a European passport available to them under the PSD, payment institutions can offer payment products and services across borders, thus making it attractive for European consumers to pay and receive funds within as well as outside their home country.

Keys Facts & Figures

card payments

Card payments of the total of non-cash payments in the Euro area (2021)

49%

197

trillion

Value of total payment transactions involving non-MFIs in the Euro area (2021)

50

institutions

Transactions processed by retail payment systems (2021)

billion

Number of institutions offering payment services to non-MFIs in the EU (2021)

6550

million

Number of payment transactions involving non-MFIs in the EU (2021)

143

34.8

million

Number of credit transfers in the EU (2021)

24

average

Number of direct debits in the EU (2021)

million

Average value per payment in the EU (2021)

€1675.4

Source:
ECB Payment Statistics, July 2022

Latest News

EPIF welcomes the agreement on instant credit transfers in euros

Published on: 21/11/2023