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It sights Europe and IT KNOWS

The structure of the European market of payment systems is changing.

The European banks have worked traditionally like a national infrastructure mosaic different of payment. Nevertheless, it is accepted universally that all (financial organizations, retail, consuming commerce and the economy generally) would benefit from more open and coherent an European market of payments.

The European Commission has outlined its vision of an inner market of payments. And there are other two initiatives in march that are contributing to turn this vision in fact:
The European Central bank has invited to the European banks to create a Unique Zone of Payments in Euros (IT KNOWS)

The industry of financial services has created the European Council of Payments to decide a common answer, that the frame has already finalized of KNOWS for cards (KNOWS Cards Framework - SCF).

In Europe Visa we have ourselves it jeopardize to turn in fact this vision of more open and dynamic a market of payments and we are working in it along with our financial organizations member, to obtain it.