The European Payment Institutions Federation (EPIF) is an international non-profit association. It was founded in June 2011, in response to the adoption of the Payment Services Directive (PSD). The PSD established a new category of payment service providers (payment institutions) to encourage more competition at the European level.
Payment institutions are permitted to provide payment services alongside banks and other financial institutions.
By means of a European passport available to them under the PSD, payment institutions can offer payment products and services across borders, thus making it attractive for European consumers to pay and receive funds within as well as outside their home country.
EPIF also represents institutions with a banking license, where the company only or predominantly uses this license for payment services.
EPIF has compiled several documents explaining the industry.