The European FinTech Association (EFA) welcomes the agreement on the revised regulatory framework for payments in the EU. Although the work to finalise the text is ongoing, the direction of the agreement indicates an important step forward in strengthening consumer protection, transparency, and competition within the European payments ecosystem. Based on the information available, EFA […]
The European Fintech Association (EFA) strongly supports the commitments made in the Declaration for European Digital Sovereignty and the ambitious agenda set out at the European Digital Sovereignty Summit in Berlin this week. The clear focus on strengthening Europe’s competitiveness, reducing strategic dependencies, and fostering innovation while maintaining an open and globally connected digital ecosystem […]
Driving growth in the digital economy beyond a physical presence is a major challenge merchants face as they try to stay ahead in these times. New trends in technology force merchants to increasingly adapt their businesses to the new needs of consumers, who expect more speed, efficiency, and choices, while demanding less friction in their […]
In today’s interconnected world, making cross-border payments easier and cheaper is more important than ever. More and more people lead international lives, including within the EU. Of the EU’s population, 9% or roughly 40 million people live in a different country to the one in which they were born.[1] And it’s not just people that […]
In recent years, the digitisation of the financial services industry has provided European consumers with access to sustainable credit, new payment options and effective financial tools. For the sector, this much-needed innovation is helping to reduce costs, speed up access to capital, improve transparency and promote financial inclusion. With over 40 leading European FinTech companies […]
In the evolving landscape of personal finance, European fintechs are at the forefront of transforming how individuals grow their savings. By leveraging innovative technologies and user-centric platforms, these companies are simplifying saving, and at the same time, making investing accessible and cost-effective, enabling even novice investors with limited funds to participate in the financial markets. […]
As the European Union intensifies its efforts to combat climate change and transition to a sustainable economy, fintech companies are increasingly becoming key players in the green revolution. In fact, Europe is emerging today as a global leader particularly in the climate fintech space, securing US$1.4BN in venture capital investment compared to just US$881MN in […]
Europe’s Place in Global Technology InnovationOver the past decade, the European Union (EU) has emerged as a leader in the financial services and financial technology sectors. Innovative companies have fundamentally transformed how consumers engage with finance, empowering them to take more control over their financial lives. For example, mobile banking applications have revolutionised personal finance […]
Role and importance of Fintech industry in building up European competitiveness. The concept of EU strategic autonomy has been a priority for the EU over the last few years. Geopolitical instability, climate and environmental challenges, as well as social changes have increased the focus on this concept. In short, strategic autonomy refers to the idea […]
As the European Union navigates an era of rapid technological advancement and economic transformation, the role of FinTech companies in this journey is growing from strength to strength. Today’s FinTech innovators have not only revolutionised the financial services landscape, but have also contributed significantly to the EU economy through innovation, investment, facilitating fair competition, and […]
Brussels, Belgium – July 10, 2024 – The European FinTech Association (EFA) today announced the appointment of its new Board following its 2024 Annual General Assembly. The newly-appointed Board of Directors comprises experts from leading fintech innovators across Europe who will represent the association in exchanges with European stakeholders and policymakers. Established in 2019, the […]
Under its new proposal for a Payment Services Regulation (PSR), from 28 June 2023, the European Commission reinforced the refund rights for merchant-initiated transactions (MITs). It does so by extending the unconditional refund right under Article 62(1) that exists for direct debits (DDs) to all MIT transactions. In essence, this means that payers would be […]
Brussels, January 31, 2024: Following up on the joint EU fintech industry statement issued on May 17, 2023 (see here), ETPPA, together with EMA, EPIF, EFA and OFA, are calling on the co-legislators and the European Commission to clarify the compromise text reached on recital 34 of the AML Regulation in the technical trilogues; this […]
The European Fintech Association (EFA) welcomes the provisional agreement reached by the European Parliament and the Council of the EU on 7 November 2023. The Instant Payments Regulation (IPR) is a major step forward in enabling consumers and merchants across Europe and globally to benefit from the wide range of benefits that instant payments offer. […]