The payments landscape has undergone significant changes in the last decades. The introduction of the Payment Services Directive in 2007 and the E-Money Directive of 2009 has led to the emergence of non-bank payment service providers (non-bank PSPs) delivering innovative, convenient, fast and secure payment options for customers. It has resulted in increased competition in the payment market which, in turn, allowed customers to benefit from more choice and cheaper payment solutions.

Here are EPIF’s reflections on how the European payments market is evolving and a number of Recommendations for further policy actions. These are aimed at increasing the competition, innovation, safety and reach of European non-bank payment solutions.