Commission’s Inception Impact Assessment on Instant Payments:
EBF response

Commission’s Inception Impact Assessment on Instant Payments: EBF response

BRUSSELS, 9 April 2021 – The EBF has responded to the European Commission’s Have-Your-Say consultation ‘Inception Impact Assessment’ on instant payments. We highlight our support for efforts to increase the uptake of SCT Inst and the view that SCT Inst could facilitate stronger and more integrated homegrown pan-European payment solutions. It is necessary to carefully assess which actions by the public authorities could enable the further development of instant payments and which aspects would be best left to market developments, with the potential monitoring by the public authorities. Market-led developments and uptake by market participants should be favoured and any eventual legislative action should be limited to the building blocks needed for widespread adoption of SCT Inst and the resolution of any hindering factors.

Contacts:

Anni Mykkanen, Senior Adviser, Payments & Innovation a.mykkanen@ebf.eu

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu Twitter: @EBFeu.