The new agreement between the European Payments Alliance (EuroPA) and the European Payments Initiative (EPI) marks a concrete step forward in the area of credit recovery. By interconnecting instant payment networks in 15 European countries, Europe is moving closer to a system that makes it possible to collect faster, with less friction and greater predictability, especially in an international context.

This agreement establishes the technical interconnection between digital payment systems already in place in 15 European countries, including solutions such as MBWay (Portugal), Bizum (Spain), Bancomat Pay (Italy), Vipps MobilePay (Nordic countries), Blik (Poland) and IRIS (Greece), on one hand, and the Wero platform (Germany, France, Belgium, the Netherlands and Luxembourg), on the other. The result will be a common infrastructure, with more than 380 million users covered, with the aim of enabling consumers and businesses to transfer funds to another European country immediately, securely and without global intermediaries.

Direct impact on credit recovery

From the point of view of credit recovery, the impact of this agreement could be significant, especially if well exploited by those working in this area. Here are some direct practical implications:

• Immediate settlement: Creditors can receive payments within seconds, eliminating the usual delays in conventional transfers.
• Integration with collection communications: instant payment links can be incorporated into notifications, emails, customer portals or trading platforms.
• Automation and scalability: by integrating these systems with collections management software, it will be possible to trigger mass collections with practically immediate settlement, essential for dispersed portfolios or volume recovery.
• More efficient collection from international debtors: unlike traditional SEPA transfers, this interoperable network will allow payments to flow between countries, without added costs, bank delays or the need for complex data. The debtor can pay using their usual application, even if they are in another country.
• Predictability and better treasury management: Payments received on the same day (or within seconds) make it possible to react more quickly, reinvest or shield themselves from systemic late-payment.
• Increased pressure on the debtor: With the technology available, the justification for delay loses strength. The debtor has the means to pay immediately, which increases their accountability and reduces the excuses for delay.

For the time being, the practical application of this network still depends on the technical development of the integrations and the support of local operators, particularly financial institutions. But the path is clear. The European Commission's vision of a digital single market for payments is finally beginning to take shape.

The future of debt recovery is speed

The credit recovery sector increasingly relies on three pillars: information, speed and effective means of enforcement. European instant payments reinforce the third. With this agreement, Europe is starting to build a real instant payments network on a continental scale, bringing businesses, consumers and creditors together.

For companies with customers or debtors in several EU countries, this advance represents a concrete opportunity to improve recovery rates, reduce operating costs and increase the margin of success in cross-border collections.

Credit recovery continues to require strategy, method and legal rigour. But now it has a new ally.