PayPal Joins EPC to Advance SEPA Instant Payments and Interoperability
PYPL•PayPal joined European Payments Council on July 3, aiming to integrate with SEPA instant payments and enhance interoperability across European digital wallets. The company will collaborate with industry partners to develop standards for instant cross-border transfers and participate in EPC’s rulemaking groups.
1. PayPal Becomes EPC Member
On July 3, PayPal officially joined the European Payments Council, marking its entry into the pan-European body responsible for harmonizing payment schemes and standards.
2. Integration with SEPA Instant Payments
The company plans to adopt the SEPA Instant Credit Transfer scheme, enabling customers to send and receive euro payments in near real time across participating banks and wallets.
3. Driving Interoperability Standards
Through its EPC membership, PayPal will engage with industry partners to create interoperability standards, contribute to working groups on instant cross-border transfers, and influence future rulemaking.
