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European Council: Endorses EU instant payment plans

March 28, 2021

EU member states want to make it easier for consumers to pay in shops, and to make e-commerce transactions widely available
The Council adopted conclusions that respond to the retail payments strategy for the EU presented by the Commission in September 2020
Council lends its full support to the overall aims of the strategy, such as ensuring a competitive and innovative retail payments market in the EU
The Council also highlights the many challenges to take into account when further developing and regulating the market
The conclusions set out the Council’s detailed priorities under the four ‘pillars’ for strategic action outlined by the Commission
The Council gives the Commission a strong political mandate for pushing forward initiatives across these fields