# EPI: How to build trust and adoption among consumers and merchants
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2021-12-03
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: What is the European Payments Initiative (EPI) and Why Is
Meta Description: Learn about EPI, a pan-European payments solution aiming to unify the fragmented European payments landscape. Discover how EPI benefits customers and merchants.
URL: https://financedigest.com/epi-how-to-build-trust-and-adoption-among-consumers-and-merchantshtml

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_By_ **_Arnaud Crouzet,_** _VP Security & Consulting at Fime_

**What is EPI?**

The European Payments Initiative (EPI) is aiming to provide a pan-European payments solution. EPI aims to set itself apart from other payment methods and address the challenges created by the fragmentation of the European [payments landscape](https://www.financedigest.com/5-predictions-for-payments-landscape-in-2022-and-our-reflections-on-2021.html "5 Predictions for Payments Landscape in 2022 and our reflections on 2021").

Some of the EU’s biggest [banks are already members](https://www.financedigest.com/siscoop-collaborates-with-fiserv-to-become-first-in-mexico-to-enable-digital-and-mobile-banking-for-credit-union-members.html "SISCOOP Collaborates with Fiserv to Become First in Mexico to Enable Digital and Mobile Banking for Credit Union Members") of EPI, and several more are anticipated to join after the planned introduction in 2022. In a rapidly changing [payments ecosystem](https://www.financedigest.com/the-future-of-payments-biometrics-within-the-financial-ecosystem.html "The Future of Payments: Biometrics Within the Financial Ecosystem"), this cooperation at a European level is long-awaited. The initiative is set to bring multiple [benefits to customers](https://www.financedigest.com/online-marketplaces-embracing-embedded-finance-to-benefit-both-customers-and-vendors.html "Online marketplaces: embracing embedded finance to benefit both customers and vendors     ") and merchants, but gaining their trust first is crucial to a successful adoption.

**What does it mean for [merchants and customers](https://www.financedigest.com/time-merchant-acquirers-extra-mile-customers-first-sector-must-learn-mistakes.html "It is time merchant acquirers to the extra mile for their customers. But first the sector must learn from its mistakes. ") and are they ready for it?**

Merchants of all sizes are looking for a simplified [payment integration, ideally a single solution that connects all of their customers’ payment methods](https://www.financedigest.com/freelancer-payments-methods-what-you-should-know.html "Freelancer Payments Methods: What You Should Know"). It is difficult for merchants to [integrate each payment market independently](https://www.financedigest.com/the-soy-protein-market-to-integrate-inquisition-with-innovation.html "The Soy Protein Market To Integrate Inquisition With Innovation"), especially those with no experience in this area. Therefore, one unified [payment network would vastly benefit European](https://www.financedigest.com/more-banks-join-european-instant-payments-pilot-from-end-2023.html "More banks join European instant payments pilot from end 2023") merchants. However, the solution must be instantaneous, as the [market is anticipating](https://www.financedigest.com/microfluidic-devices-market-is-anticipated-to-expand-at-a-healthy-cagr-of-24-during-the-forecast-period-2021-to-2031.html "Microfluidic Devices Market Is Anticipated To Expand At A Healthy CAGR Of 24% During The Forecast Period 2021 to 2031") a truly real-time payment solution. To be prepared for EPI, merchants must fully understand how it is going to [operate in the European market](https://www.financedigest.com/digital-marketing-trends-that-will-change-how-brands-operate-in-2021.html "Digital Marketing Trends that will change how brands operate in 2021") and what it means for them.

For customers, banks must ensure that EPI does not disrupt or confuse their payment experience when banking [online or shopping](https://www.financedigest.com/the-high-street-is-dead-long-live-online-shopping.html "The high street is dead – long live online shopping! "). For example, performing pre-authorizations with [instant payment](https://www.financedigest.com/5-ways-to-maximise-the-value-of-instant-payments.html "5 ways to maximise the value of instant payments") could confuse customers if they see a pre-authorized amount on their statement, which is later adjusted to reflect the actual charge. To simplify the [payment experience for the customer](https://www.financedigest.com/curating-a-fully-contactless-customer-experience-for-payments.html "Curating A Fully Contactless Customer Experience for Payments "), this should be managed so they only see the final amount paid. For customers to be ready to adopt EPI, they [must be made aware that the solution will simplify](https://www.financedigest.com/why-the-industry-must-simplify-cybersecurity.html "WHY THE INDUSTRY MUST SIMPLIFY CYBERSECURITY") and speed up payment experiences, making their lives easier.

**What are the security expectations?**

For a payment method to be accepted, it [must be secure](https://www.financedigest.com/fintechs-must-remove-security-and-compliance-friction-to-unlock-new-growth.html "Fintechs Must Remove Security and Compliance Friction to Unlock New Growth") and provide guarantees for both the consumer and the merchant. That is why they must be aware of the [security measures that will be implemented and the payment](https://www.financedigest.com/allpay-signs-with-eckoh-to-secure-telephone-payments.html "allpay signs with Eckoh to secure telephone payments") assurances that will be provided. Instant [payments made with EPI will be digital](https://www.financedigest.com/the-future-of-digital-payments-and-collections-16.html "The Future of Digital Payments and Collections 16") and operate 24/7. Therefore, the security [measures must also be in real-time for a successful](https://www.financedigest.com/how-to-define-success-and-measure-the-impact-of-digital-transformation.html "How to define success and measure the impact of digital transformation") adoption.

[EPI must](https://www.financedigest.com/back-to-the-future-5-big-questions-epi-must-answer.html "Back to the Future: 5 Big Questions EPI Must Answer") strike the right balance between security, minimal disruption and credibility. Making merchants and consumers aware that they are totally [protected – in the same or better ways](https://www.financedigest.com/5-ways-to-protect-your-wealth-for-future-generations.html "5 Ways to Protect Your Wealth for Future Generations") than today – is an obligation. It will only be a [success if consumers](https://www.financedigest.com/what-successful-accounting-looks-like-in-the-age-of-the-consumer.html "What successful accounting looks like in the age of the consumer") and merchants have trust in the initiative, so education on this topic must become a priority.

**Which use cases will the initiative address?**

EPI brings many opportunities to [payments across Europe including card services](https://www.financedigest.com/igtbs-payments-services-hub-faq.html "iGTB’s Payments Services Hub – FAQ"), digital wallets, cash withdrawals, online payments and real-time person to person (P2P) payment services.

To meet the demands of merchants and offer a seamless, [digital payment service](https://www.financedigest.com/maximising-ai-during-digital-transformation-in-the-financial-services-sector.html "Maximising AI during digital transformation in the financial services sector"), EPI needs to address all the different use cases that already exist today. If consumers [know that they can make payments](https://www.financedigest.com/the-end-of-payments-as-we-know-it.html "The end of payments as we know it"), access online banking and purchase items online faster and easier, they will be keen to use the scheme.

**What is the future of EPI?**

EPI has the potential to harmonize payments [across Europe](https://www.financedigest.com/air-pollution-surges-as-heatwave-sweeps-across-europe.html "Air pollution surges as heatwave sweeps across Europe"), simplify payment experiences for both consumers and merchants alike, and enable the development of new use cases. For the initiative to take off, it must be just as competitive as the current alternatives. While efforts and discussions to get the project off the ground are still underway, a key priority for the initiative once it enters the operational phase in 2022 [must be to gain the trust](https://www.financedigest.com/2019-year-must-re-build-public-trust-finance.html "2019 is the year we must re-build public trust in finance") of consumers and merchants.

Find out more about EPI in our blog series.


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