Cutting the card: how Payconiq is building a borderless future for European payments

Payconiq is a Business Reporter client. As consumers and businesses embrace real-time payments, mobile apps and e-commerce, regulators are eyeing a new infrastructure revolution to create a new, unified instant payment scheme and platform for Europe – the European Payments Initiative. Meanwhile, events such as the exclusion of Russia from the SWIFT international payment scheme in response to the invasion of Ukraine have highlighted the importance of payment sovereignty.” EPI aligns the interests of financial institutions with the financial future of the bloc, ensuring bespoke solutions that match the needs of the EU payment market, including the union’s stricter regulations around data protection, ethics and technological standards, which keep consumers safer. “It all starts with an all-in-one solution for a digital wallet and direct payment, from account to account, under one European brand, opening the door to other value-added services such as buy-now-pay-later, digital identity functionality and savings and loyalty programmes,” says Stijn Van Brussel, COO of Payconiq International. However, this requires a broad solution to cover the wide range of use-cases.” Payconiq was founded to offer consumers and businesses across Europe the most user-friendly payment solution ever – a continent-spanning initiative with roots in one of the bloc’s smallest members.