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By Arnd HEßELER, Nikola JELICIC, Konrad HOLTKAMP and Felix HAEUSLER, zeb consulting*
Before we take a closer look at the European Payments Initiative – aka EPI – imagine the following payment scenario: it’s 2024. Konrad, Nikola and Felix are on holiday in Croatia. The three of them are happily using their top-of-wallet cards to pay in restaurants and bars and can easily transfer money between each other using the latest P2P service straight from their banking app. Everything is free of charge for them and all transactions are processed in real time. They haven’t had to think about the Croatian Kuna, local card schemes and workaround solutions like PayPal for a long time. Everything is a one stop shop.
Okay, okay – enough of daydreaming. Isn’t...
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