# How the EPA plans to boost confidence in the UK payments industry post Brexit Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-08-26 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: How Brexit Could Impact the UK Payments Market: Insights Meta Description: Get insights on the EPA Trade Initiative, driving global trade opportunities and partnerships in the evolving UK payments landscape after Brexit URL: https://financedigest.com/how-the-epa-plans-to-boost-confidence-in-the-uk-payments-industry-post-brexithtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/dsc2090-2222-1736844547413-compressed.jpg) By **Kevin McAdam**, prepaid director at [allpay Ltd.](http://www.allpay.net/) When the news of Brexit broke, there was understandably concern over its implications on the UK payments market. After all, since 1999 the EU has successfully launched initiatives aimed at integrating EU financial markets, facilitating the removal of legal barriers which hindered cross-border financial services activity across Europe.But now the future is uncertain. As a result, the Emerging Payments Association (EPA), under the leadership project, has established a [global trade](https://www.financedigest.com/glimmers-of-hope-as-global-trade-talks-stretch-into-final-day.html "Glimmers of hope as global trade talks stretch into final day") initiative, which I am proud to be leading. The EPA Trade Initiative aims to educate the rest of the world on the strength of the UK payments market, ensuring its reputation for [leading edge products and solutions](https://www.financedigest.com/bny-mellons-new-solution-leads-the-digital-bill-pay-revolution.html "BNY Mellon’s New Solution Leads the Digital Bill-Pay Revolution"), which have made the UK the hot bed for payments innovation,remains intact following Brexit. There are three [key work streams which will drive](https://www.financedigest.com/insights-on-the-flexible-packaging-global-market-to-2027-key-driving-factors-and-challenges.html "Insights on the Flexible Packaging Global Market to 2027 – Key Driving Factors and Challenges") the strategic objective for the EPA. The first is awareness and education, as we plan to position the EPA membership as the [focal point of the Payments Industry](https://www.financedigest.com/partnerships-to-be-the-focal-point-of-medical-and-industrial-gloves-market.html "Partnerships to be the focal point of Medical And Industrial Gloves Market") with global operators beyond the Euro zone. We will be creating a program of local and national events, as well as implementing a strong marketing and [communications plan](https://www.financedigest.com/a-ccm-platform-is-crucial-to-your-customer-communication-plans-heres-why.html "A CCM platform is crucial to your customer communication plans: here’s why"). Through these methods we will offer expertise, [innovation and education from product](https://www.financedigest.com/product-innovations-and-advancements-in-technology-to-boost-automotive-ignition-system-market-growth.html "Product Innovations and Advancements in Technology to Boost Automotive Ignition System Market Growth") to regulation. This platform of knowledge sharing will facilitate better communication and realisation of [business opportunities](https://www.financedigest.com/the-metaverse-a-business-opportunity.html "The Metaverse – a Business Opportunity?"). We will also be [actively networking and cross-border working with industry](https://www.financedigest.com/automotive-active-safety-system-market-2015-scope-of-current-and-future-industry-2025.html "Automotive Active Safety System Market 2015 | Scope of Current and Future Industry 2025") associations and public bodies to establish relationships, with the aim of entering into a working partnership framework. Such partnerships will further support the [payments industry cross border](https://www.financedigest.com/crossing-the-rubicon-why-cross-border-payments-are-primed-for-transformation.html "Crossing the Rubicon: Why Cross-Border Payments Are Primed for Transformation "). Our third work stream will identify commercial and technology exporting [opportunities for emerging markets](https://www.financedigest.com/electric-vehicle-transmission-market-emerging-growth-analysis-future-demand-and-business-opportunities-2027.html "Electric Vehicle Transmission Market Emerging Growth Analysis, Future Demand and Business Opportunities 2027") outside the Euro zone. Our key objective is to open up trade corridors between the UK payments [industry and emerging markets](https://www.financedigest.com/industrial-automation-incentives-by-governments-in-emerging-economies-drive-industrial-robots-market-fmi-study.html "Industrial Automation Incentives by Governments in Emerging Economies Drive Industrial Robots Market: FMI Study"), initially LatAm and Asia Pacific. The initial phase will target Mexico, Serbia and China specifically. Fundamentally, this initiative will serve as a dynamic platform for [continued global](https://www.financedigest.com/building-and-construction-to-continue-accounting-for-nearly-half-of-tower-cranes-sales-globally-fmi.html "Building and Construction to Continue Accounting for Nearly Half of Tower Cranes Sales Globally: FMI") interaction for EPA and the membership. Networking with these countries has proved promising so far. In June 2016 we hosted a delegation of five from Mexico looking at world class e-money regulations, [technology and business](https://www.financedigest.com/covid-19-makes-the-case-for-technology-and-automation-for-business-development-in-professional-services.html "Covid-19 Makes the Case for Technology and Automation for Business Development in Professional Services") models. In August 2016, three government officials met with a line-up of EPA members. This initiative has been fully supported by the UKTI and British Embassy. Those from Mexico are seeking companies to help pilot and roll-out a mobile and prepaid card programme for benefits distribution to seven million Mexican people. This was not exclusive to myself and the senior team at EPA, but any financial [industry figures](https://www.financedigest.com/poly-cotton-fabric-market-detailed-analysis-of-current-and-future-industry-figures-till-2020-2030.html "Poly Cotton Fabric Market Detailed Analysis of Current and Future Industry Figures till 2020-2030") and EPA members. Dialogue has also started with financial institutions within Serbia under the EPA banner and we have also had interest from the [Hong Kong](https://www.financedigest.com/with-tighter-grip-beijing-sends-message-to-hong-kong-tycoons-fall-in-line.html "With tighter grip, Beijing sends message to Hong Kong tycoons: fall in line") Development Corporation on how the EPA can support, advise and trade within Hong Kong to meet their desire to become a centre for FINTEC. Once again this is also working with UK trade associations. In September, the EPA [board and its members](https://www.financedigest.com/passendo-powers-up-with-raft-of-new-board-members.html "Passendo powers up with raft of new board members") will be joining 20 other country representatives in China. The trip, called China Start, involves visiting China’s leading [business school and incubator network, learning about best practice for business in China and pitching our services to companies](https://www.financedigest.com/more-companies-investing-heavily-in-business-services-software.html "More Companies Investing Heavily In Business Services Software") there. A new [company called ZymPay and a leading](https://www.financedigest.com/healthcare-information-systems-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Healthcare Information Systems Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") Bloomberg analyst of the Chinese tech scene will also be in attendance. EPA members will have opportunity to sit at the top table, win [business opportunities](https://www.financedigest.com/new-report-of-fuel-conditioning-system-market-with-size-growth-drivers-market-opportunities-business-trends-and-forecast-to-2028.html "New Report Of Fuel Conditioning System Market With Size, Growth Drivers, Market Opportunities, Business Trends And Forecast To 2028") and secure funding for their PayTech ventures. allpay has already had some success in this market, having entered into a trade relationship with Lakala Group, one of the [largest internet financial services groups in China](https://www.financedigest.com/taiwan-reports-chinas-largest-incursion-yet-to-air-defence-zone.html "Taiwan reports China’s largest incursion yet to air defence zone"). A key aim of this partnership is to build communication, co-operation and [trust between the UK and China internet industries](https://www.financedigest.com/scams-have-eroded-digital-trust-banks-need-to-do-more-to-combat-the-industrial-scale-of-scams-in-the-uk.html "Scams have eroded Digital Trust – Banks need to do more to combat the industrial scale of scams in the UK."). We are proactively reaching out to countries, pitching the UK as the global hub for [payments innovation and reinforcing the idea that trade can remain strong](https://www.financedigest.com/the-late-payments-toolkit-how-to-keep-the-cash-flow-strong.html "THE LATE PAYMENTS TOOLKIT – HOW TO KEEP THE CASH-FLOW STRONG") post Brexit. We want to highlight how the EPA can help these countries moving forward, and that the Trade Initiative will create new, and strengthen existing, [global relationships within the payments industry](https://www.financedigest.com/prefabricated-building-system-markets-advanced-research-growth-opportunities-in-global-industry-by-2025-edited-by-leading-research-firm.html "Prefabricated Building System Market’s advanced Research & Growth Opportunities in Global Industry by 2025 Edited by Leading Research Firm"). One of the greatest assets that the UK has always demonstrated to the rest of the world is our desire to explore, [innovate and collaborate](https://www.financedigest.com/how-innovation-and-collaboration-are-evolving-the-fight-against-financial-crime.html "How innovation and collaboration are evolving the fight against financial crime") and the EPA membership has a wealth of knowledge and expertise to develop and support initiatives across the world. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---