Banking Associations Committed to the Interconnection of European Payment Solutions

AEB, CECA, and Unacc, as members of their European associations, support the interconnection of private solutions at the European level and European sovereignty in these systems, with the promotion of the agreement between the European Payments Alliance (EuroPA) and the European Payments Initiative (EPI) to move in this direction.

Banking associations emphasize that these types of initiatives demonstrate the importance of private solutions in strengthening Europe’s ability to manage its own payments.

The Spanish Banking Association (AEB), CECA, and the National Union of Credit Cooperatives (Unacc) support the interconnection of payment systems and European sovereignty in these systems through the agreement between the European Payments Alliance (EuroPA) and the European Payments Initiative (EPI) to interconnect their solutions, aiming to advance European sovereignty in payment systems, particularly in retail payments, one of the most crucial aspects of our daily economic life.

Banking associations highlight that such initiatives showcase the significance of collaboration among existing private solutions to enhance Europe’s capacity to operate its own payments, particularly amidst high geopolitical uncertainty and increasing digital transformation.

Furthermore, AEB, CECA, and Unacc, as part of the European Financial Sector Associations (ESBG, EACB, EBF), advocate that user-centered, collaborative solutions that aim to enable interconnectivity can support innovation and contribute to advancing European goals of strategic autonomy.

It is noteworthy that Bizum, the immediate payment platform driven by Spanish banking and part of EuroPA, boasts over 29 million users, who conducted nearly 1.1 billion transactions in 2024, with a value of €60 billion. Transactions between individuals increased by 14% in 2024, and payments to businesses surged by 93%.