THE PAYMENTS ASSOCIATION INDUSTRY SPOTLIGHT

Europe is a region currently witnessing phenomenal change throughout the vast and complex payments industry, driven by a combination of technological advancements and immense consumer demand

Writer: Ed Budds | Project Manager: Deane Anderton

Trading in Europe within the expansive payments industry is not cheap. In order to stay afloat, many financial institutions must now rely on the backbone of large and complex organisations.

For both domestic and international businesses, Europe remains much more complex than other continents, mixing languages, payment methods and even regulations.

The European region has also seen an explosion of FinTech businesses in recent years, offering many similar products to traditional banks.

As the world still struggles to return to pre-COVID-19 levels, several such industries have turned adversity into a fresh advantage. With digitalisation processes already well underway, the payments sector has received a key boost, with European citizens increasingly demanding better customer experiences through digital payments.

With the EU’s payments sector as varied as the cultures of each member state, the European point-of-sale (POS) market recently announced a post-pandemic increase of 14 percent yearly growth, with Norway, Belgium and Spain as the most dominant forces in this impressive rebound.

The European Banking Authority (EBA) claims the utilisation of digital platforms to bring customers and financial institutions closer together is rapidly expanding and this growth is projected to continue surging as financial institutions look to satisfy customer demands for both convenience and decreased costs.

The Payments Association exists today as the largest community in the field of payments. Now curating communities in the UK, Europe, and Asia, helping almost 300 companies enhance their commercial interests, The Payments Association endeavours to solve societal problems such as financial exclusion and evaluate new opportunities for innovation in payments.

Benefits Of Membership With The Payments Association

CONNECT - Save time and money by connecting with the industry’s key stakeholders each month at inperson and virtual meetups, as well as identifying new opportunities and initiating new partnerships.

SHAPE - Join a working group project alongside a group of subject-matter experts in order to drive meaningful change and gain a position as a thought leader on a certain topic.

LEARN - Gain actionable, bite-sized insights on today’s business-critical industry issues in the membersonly resource hub.

MARKET – Gain brand exposure by profiling your company on The Payments Association’s website by positioning it as a part of the most influential community in payments.