Emerging Payments Association outlines options for the fintech industry if the UK loses passporting rights

7 years ago

A new report looking at a UK without passporting rights will be launched on January 11.

The Emerging Payments Association (EPA) will be launching its white paper, entitled ‘Passport to the Future’, to look at what options may be open to payments companies if the UK loses passporting rights.

EPA Director General, Tony Craddock, said: “Brexit negotiations are going to start over the coming months, and it’s important for payments companies to have an idea of what options they have if the UK does lose passporting rights.”

The white paper comes after former European Commissioner Jonathan Faull, who retired last week, made reference to the UK’s potential single market access after Brexit.

Mr Faull said: “You’re a member of the single market as a member of the EU or EEA. Or you’re a foreign country outside it, and you conclude agreements with the EU.”

Mr Craddock commented: “Of course, the governments negotiating position has not been fully outlined yet, and we are a long way from a final deal, but the payments industry would like some clarity over its future access to European markets.”

The event will take place at the EPA’s London Bridge office on January 11, will start at 5.30pm, and end at 8.00pm.

It will provide a chance for important stakeholders to gain a better insight into which countries inside the EEA will provide the best conditions for companies to set up and operate from, should the UK lose passporting rights.

After a presentation on the white paper is given by co-author Peter Howitt, from European Law Firm Ramparts, there will be a question and answer session so attendees are able to find out more information.

Tickets for the event are free, and can be ordered through the EPA’s website.

Notes to Editor:

• For more information about the launch event for the white paper, or for tickets, visit http://www.emergingpayments.org/events/report-launch-event-passport-to-the-future/

• For Media comment and interviews contact Ana Giese on 07474657673 or 020 7378 9890, or email ana.giese@emergingpayments.org

• For more information about The EPA visit http://www.emergingpayments.org

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About Emerging Payments Association

The Emerging Payments Association (EPA) connects the payments ecosystem, encourages innovation and drives profitable business growth. Our goals are to strengthen and expand the payments industry to benefit all stakeholders. We achieve this by shaping a comprehensive programme of activities for our members with help from an independent board, which addresses key issues impacting the industry. These include:  Targeted events  Conferences  Award ceremonies  Critical industry projects  Lobbying activities  Training courses The EPA is over 130 members strong and growing. Our members come from across the payments value chain; including payments schemes, banks and issuers, merchant acquirers, PSPs, retailers, and more. These companies have come together, from across the UK and internationally, to join our association, collaborate, and speak with a unified voice.