EPIF welcomes that the European Supervisory Authorities (ESA) have recently started to provide specific guidance to the financial industry regarding the supervisory, passporting and reporting regime applicable to Payment Institutions (PI) and their agent network. The new supervisory protocol (the ‘Protocol’) provides helpful clarifications, in particular from  an  Anti-Money  Laundering  and  Counter-Terrorism Financing  (AML/CFT)  perspective.  On  the  other  hand,  the Protocol contains various proposals which are a matter of concern to EPIF due to their unnecessary restrictive nature and potential severe impact on the business models of non-bank remittance service providers in Europe.