The Payments Association in the UK advocates for the payments and transfer sectors, including crypto participants. Today, the Payments Association says it has acquired its European counterpart, the Payments Association – EU (TPA-EU). Any monetary considerations were not revealed.
Together, the two entities will now represent over 350 organizations. TPA-EU approved the vote to merge unanimously.
The ambition of the larger entity is toe expand internationally.
TPA-EU will continue to operate in Luxembourg and will be managed by Thibault de Barsy.
Emma Banymandhub, CEO of The Payments Association, said their goal is to improve payments globally. She added that this is not about running Europe but they can now share knowledge and use their collective abilities to create more value for members.
“A central focus of the next phase will be to bring proven practices, programs and expertise developed by TPA in the UK to the European market, while adapting them to the distinct regulatory, commercial and political environment in which the EU members operate,” said Banymandhub. “TPA intends to strengthen the advocacy and policy support available to European members by drawing on its experience of convening the payments industry and engaging policymakers and regulators in the UK. This includes its work representing industry concerns during the development of the UK’s mandatory Authorised Push Payment fraud reimbursement regime.”
de Barsy said the combination will provide greater operational capabilities as businesses expand their cross-border services.
The Payments Association in the UK currently coordinates with the Bank of England, the FCA, HM Treasury, the Payment Systems Regulator, Pay.UK, UK Finance and Innovate Finance. Expect this to now include the ECB, the EU, individual member states, and more.