The London-based professional association of payment players, The Emerging Payments Association (EPA), has created a new separate legal structure for the non-profit business association, the Emerging Payments Association EU (EPA EU).
As a result, the EPA, which brings together more than 150 operators from all areas of the payment value chain, is expanding its European Union network from Luxembourg.
EPA EU’s founding members include the EPA, the development agency for the financial centre, Luxembourg For Finance, and the financial utility, Banking Circle. With the European organisation being headed by Thibault de Barsy, ex-CEO of Keytrade Bank Luxembourg.
The new vice-chairman and general manager of EPA EU, de Barsy stated: “Connecting key players from across the European Union to collaborate in a way that transcends their national trade bodies seemed an imperative.”
While Tony Craddock, EPA’s director general added: “With Brexit on the horizon we felt it was vital to give our current members, as well as a new cohort of Europe-wide payments businesses a professional association that could represent their interests
“We aim to enlarge our international footprint and deliver new opportunities to our existing and future members.”
The purpose of EPA EU is to promote and defend the interests of its members, as well as the study of any issues concerning the payments industry in the European Union.
Nicolas Mackel, CEO of Luxembourg for Finance commented: “We’re delighted EPA has chosen Luxembourg for its EU base, further strengthening the country as a destination of choice for the global payments sector.”
Anders la Cour, Chief Executive Officer and Co-founder of Banking Circle added: “Already a member of the EPA, we strongly believe in the role such a trade association plays in creating value and business opportunities. We are therefore very excited to be involved in the newly formed EPA EU.
Founded in 2008, Luxembourg for Finance is a public-private partnership between the Luxembourg Government and the Luxembourg Financial Industry Federation (PROFIL), with the objective to develop Luxembourg’s financial services industry and identify new business opportunities.
Pierre Gramegna, Minister of Finance of Luxembourg, concluded: “With PSD 1 and PSD 2, the EU has shown global leadership when it comes to payment services regulation and open banking.
“In view of Brexit, the Emerging Payments Association’s decision to expand its EU network to remain at the forefront of developments in the European payment industry thus seems like a natural choice and underlines Luxembourg’s growing role as a leading payment hub over the past decade, both for established global e-commerce and payment firms as well as new Fintech innovators.”