PayPal It said Thursday (July 2) that it has gained a seat at the table to influence the future of payments in Europe by joining the European Union. European Payments Council (EPC).
The EPC brings together organizations concerned with the rules, standards and infrastructure underpinning European payments. PayPal said on Thursday that the council administers the rules for payment systems used across the Single European Payments Area (SEPA), which spans 41 European countries. press release.
PayPal brings to the organization the experience and perspective the company has gained as a regulated European bank and global payments leader serving more than 430 million active accounts worldwide, according to the release.
EPC welcomed PayPal as one of its newest members on June 24 mail On X. The organization said in another mail On
Sean ByrnePayPal Europe’s CEO said interview With an EPC published on Wednesday (July 1), the payments market is competitive and evolving rapidly, with AI-native competitors and the rise of agent commerce being among the latest examples.
“In the current European context, PayPal is well positioned to be the wallet and commerce layer that consumers access, regardless of the underlying rail,” Byrne said.
As a member of the EPC, PayPal aims to contribute to the organization’s efforts around the continued development of SEPA frameworks, initiatives focused on fraud prevention and risk management, further development of instant payments, and open collaboration with industry stakeholders across Europe to address challenges and opportunities in payments, Byrne said.
Byrne said the two shifts that stand out in the payments landscape are interoperability, because consumers expect to be able to pay anyone, anywhere, and artificial intelligence, because payment providers will increasingly participate in purchasing journeys that begin within AI-powered interfaces.
“We look forward to collaborating with stakeholders across the European payments ecosystem and playing a meaningful role in shaping, strengthening and developing the future of payments in Europe,” Byrne said in the interview.
