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TRADING & TECH

Conotoxia becomes a member of European Payments Council

Conotoxia becomes a member of European Payments Council

Is the third Polish institution to join the EPC, which offers one focal point and voice for the European payment service providers’ sector on all European payment issues

April 5, 2017: Conotoxia Sp. z o.o., a licenced payment institution and a subsidiary of the largest private company in Poland - Cinkciarz, has joined the European Payments Council (EPC). Conotoxia has been granted an opportunity to contribute to the design and development of European payment systems.

With Conotoxia recently joining the EPC, the membership now consists of the 74 largest payment service providers and their associations in Europe. Conotoxia is the third Polish institution to join the EPC. The Council offers one focal point and voice for the European payment service providers’ sector on all European payment issues. It enables its members to be one step ahead regarding the evolution and development of payment schemes. In addition, the EPC is in close dialogue with its members and makes suggestions regarding the payments sector to the European Union’s decision-makers.

“We are honoured to join this recognised association which supports the development of safe, effective and user-friendly payment instruments in Europe. I am positive that our representatives will enrich the EPC with fresh ideas while the strategic importance of the EPC gives us the opportunity to present our customers’ feedback to industry leaders and policymakers,” said Piotr Kicinski, vice-chairman of the Board at Cinkciarz, the parent company of Conotoxia Sp. z o.o.

The EPC’s mission is to support and promote the integration and development of payments in Europe, notably SEPA. The primary task of the EPC is to manage the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) schemes in close dialogue with all stakeholders. SEPA payment schemes can be regarded as instruction manuals which provide a common understanding of how to move funds between payment accounts within SEPA (34 countries). Transaction services by both Cinkciarz and Conotoxia are consistent with SEPA standards.

Membership in the Council means that Conotoxia representatives will be contributing to drive further harmonisation and innovation in the field of payments in Europe.


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