A new, separate, legal structure has been created as a non-profit business association: the Emerging Payments Association EU (EPA EU), a non-profit business association.

Its founding members include the EPA, the development agency for the financial centre, Luxembourg For Finance, and the financial utility, Banking Circle. The European organisation will be headed by Thibault de Barsy, ex-CEO of Keytrade Bank Luxembourg.

“With Brexit on the horizon we felt it was vital to give our current members, as well as a new cohort of Europe-wide payments businesses a professional association that could represent their interests”, explained Tony Craddock, Director General of the EPA. “We aim to enlarge our international footprint and deliver new opportunities to our existing and future members.”

Thibault de Barsy, Vice-Chairman and General Manager of EPA EU added: “Connecting key players from across the European Union to collaborate in a way that transcends their national trade bodies seemed an imperative.”

Nicolas Mackel, CEO of Luxembourg for Finance commented: “We’re delighted EPA has chosen Luxembourg for its EU base, further strengthening the country as a destination of choice for the global payments sector.”

Anders la Cour, Chief Executive Officer and Co-founder of Banking Circle concluded: “Already a member of the EPA, we strongly believe in the role such a trade association plays in creating value and business opportunities. We are therefore very excited to be involved in the newly formed EPA EU - the next months and years are likely to bring some exciting challenges and opportunities for businesses like ours and it is great to know that the expertise of the EPA EU will be championing our causes.”