European fintechs come together to deal with payments directive

By Olivia Minnock
A group of European fintechs have come together to set up a non-profit organisation. The European Third-Party Provider Assocation (ETPPA) is an offici...

A group of European fintechs have come together to set up a non-profit organisation.

The European Third-Party Provider Assocation (ETPPA) is an official non-profit that has been developed out of the less formal Future of European Fintech coalition.

Members include Bankin’, Eurobits, Sofort, PPRO and Trustly, with the board made up of founding members of each of these companies.

SEE ALSO:

The group has been created to deal with the EU’s PSD2 regulatory technical standards. The EU directive, which took effect earlier this year, deals with the regulation of payment services and payment service providers within the trading bloc.

The ETPPA aims, with the regulation in mind, to push the interests of third party providers such as fintechs. When regulations were initially introduced, it was felt by some that they favoured big banks. Therefore the organisation will work to make sure the voices of challenger banks and the like are heard.

 

Share

Featured Articles

Fireblocks buys tokenisation firm Blockfold amid high demand

Fireblocks is acquiring tokenisation firm Blockfold amid rising demand from tier-1 financial institutions to tokenise assets like deposits and stablecoins

Papara will focus on M&A amid expansion, neobank's boss says

Turkish neobank Papara will continue to focus on M&A as part of its European expansion strategy, Chairman Ahmed Karslı is set to tell FinTech Magazine

Wise and Swift join forces on faster cross-border payments

Wise and Swift are joining forces to empower banks and FIs to deliver more cross-border payment optionality as part of a broader long-term partnership

Marqeta: over half of people want Gen AI help with finances

Financial Services (FinServ)

Fintech super-app Rauva to acquire Portuguese bank for €30m

Banking

UK's Zopa Bank gets £75m of fresh funding from investors

Banking