Card payments in Europe – current landscape and future prospects

The integration of the European retail payments markets has been going on for almost two decades. The Single Euro Payments Area (SEPA) is now a reality for over 500 million citizens using uniform credit transfers and direct debits. In contrast, card payments still lack the same degree of market integration and harmonisation of business practices and rules, as well as technical standards. Although cards have been the fastest growing means of payment in Europe for some time, some users (cardholders and merchants) have not benefited as much as they could have if a SEPA for cards had been achieved. Read more…