Key themes

EPI : European Payments Initiative

What is the European Payments Initiative?

EPI is a European initiative that favors sovereignty 

The project aims to facilitate payments in Europe by creating a pan-European interbank system. “EPI’s goal is to offer a digital payment solution that can be used anywhere in Europe and thus reshape the current fragmented landscape.

EPI focus

Gathering of 13 banks 

The parties currently cover 60 to 65% of the card volumes in the € zone.

Product EPI : European Payment Initiative

Launch of a digital wallet and 2 distinct products

An EPI Card product covering all current card use cases and an End-to-end SCT Inst

Founding partners

Logo La Croix
Logo Money vox
Logo Techniques de l'ingenieur
Logo Techniques de l'ingenieur
Logo La Croix
Logo Techniques de l'ingenieur
Logo La Croix
Logo Money vox
Logo La Croix
Logo Money vox
Logo B Smart
Logo Techniques de l'ingenieur
Logo Techniques de l'ingenieur
Écosystème des paiements : EPI European Payment Initiative

The EPI reshuffles the deck

and led banks to rethink their approach and service offering in the area of payments. Impacts in multiple areas that require a strategic and operational reflection.

payment ecosystem

An evolving world of payments

  • Arrival of new entrants: digital giants, FinTechs and specialized industrial players
  • Accelerated consolidation of the payments market
  • New relationship with national and international schemes
  • Internationalization of the market
 EPI marketing offer : EUROPEAN PAYMENT INITIATIVE

A marketing offer to rebuild

  • A new EPI offer to be articulated with the current payment offers and taking into account new behaviors
  • The need for strong customer communication and consideration of the issues for merchants
  • A customer experience at the highest level, especially around the mobile application
banking IS : EPI

A banking IS in full mutation

  • Hybridization of payments between electronic banking and credit transfers and the generalization of real-time payments, which require a rethinking of the information system architecture
  • Beyond the EPI, major technological developments (APIs, cloud, etc.) are impacting payment systems, which must become more agile and flexible in order to respond to the rapid changes in the payment ecosystem
MISSION EPI : EUROPEAN PAYMENT INITIATIVE

A new business model to be defined

  • New value-added services to be developed as part of a global approach to cards and transfers
  • Cross-functional services (underwriting, self-care, anti-fraud, etc.) to be shared between the various EPI payment instruments
GALITT - EPI

Galitt‘s value proposition

EPI course

Training and preparation of teams

An EPI training course organized in 4 modules, accessible in face-to-face and distance learning

program EPI : European Payment Initiative

Organization of a transverse program

Goal for banks: to be ready to launch EPI products in Q1 2022, including possible certifications. It is important to carry out an in-depth analysis as soon as possible, in order to define the bank’s strategy, its priorities and its organization before launching the projects.

EPI payment strategy

Implementation of a payment strategy

Definition of the perimeters, identification of opportunities and risks, identification of the strengths and weaknesses of the offer, Identification of strategic scenarios, synthesis and recommendations

Building a EPI product

Studies and product design

Between now and 2022, there are many issues that need to be addressed because EPI will revolutionize the payment value chain, requiring a complete rethink. The EPI courses must be at the level of the best in each category

View our dedicated articles for EPI

Do you have questions ? 

Pierre Lahbabi

Pierre Lahbabi

Galitt – CEO

pierre.lahbabi@galitt.com

+ 33 6 48 70 15 93