Smart Payment Association (SPA) Celebrates 20-Year Anniversary and Outlines Priorities for the Next Mandate – 5th December 2024

Brussels, 5 December – On 5 December, the Smart Payment Association (SPA), the trade body representing the secure payment technology industry, hosted a special evening reception in Brussels to celebrate its 20th anniversary. SPA, whose members include global leaders in secure payment technologies like Giesecke+Devrient (G+D), IDEMIA Secure Transactions, and Thales, has been a driving force in shaping the European and global payments landscape.

The event featured a Fireside Chat with Eric Ducoulombier, Head of Unit, Retail Financial Services at DG FISMA, European Commission, who shared insights on the evolving regulatory environment and its implications for upcoming policy changes.

Over the past two decades, SPA has been instrumental in fostering innovation, collaboration, interoperability and security in the payment ecosystem. The payment cards industry is not just a European industry. SPA members are the sector’s global leaders. Europe’s payment technology is driving innovation worldwide, from Secure Elements (SE) technology to environmentally friendly payment cards, and SPA will continue to support this leadership.

“In 2004, 300 million smart cards were shipped globally by SPA members. In 2023 this reached over 3 billion. This 10-fold growth is not just a number; it reflects the enduring relevance of the smart payment card technology, which is increasingly digitalised into mobile wallets.” said Jacques Doucerain, Board Member and President of the Smart Payment Association.

SPA Calls to Action:

• 1- The European payment sector should embrace digital payments in all forms. From SE and NFC technologies to the potential introduction of the digital euro, SPA is committed to ensuring that these innovations are grounded in security and accessibility.
• 2- The EU must adopt a regulatory approach that fosters innovation while avoiding over-regulation. Regulations like the Digital Markets Act, the Cyber Resilience Act, and DORA should balance oversight with global competitiveness.
• 3- Strong collaboration between the industry and EU institutions is essential to maintain Europe’s payments leadership and make SEPA a market reality.

“Looking ahead, collaboration between industry and regulatory bodies is crucial. From advancing eco-friendly initiatives to pioneering post-quantum cryptography, SPA is committed to ensuring Europe remains at the forefront of innovation. With sustained cooperation, I am confident the next 20 years will be as transformative as the last” concluded Jacques Doucerain.