**Breaking: STET CEO Declares SEPA Central to European Payments Independence**
STET CEO Regis Folbaum announced at the Diebold Nixdorf Intersect event in Cannes that SEPA infrastructure will serve as the foundation for European payments sovereignty. Speaking to FinextraTV, Folbaum highlighted significant progress in European payment system alignment, driven by instant payments regulation and increasing adoption of domestic card schemes across the region.
The announcement comes as European regulators push to reduce reliance on non-European payment networks. Folbaum’s comments signal growing momentum behind pan-European payment infrastructure development, which could reshape competitive dynamics for international payment processors operating in the region.
Folbaum also addressed tensions in the fintech-banking relationship, characterizing fintech firms as displaying “arrogance” while traditional banks pursue consolidation through mergers and acquisitions rather than organic innovation. This friction could impact partnership opportunities and market collaboration moving forward.
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FXnCO Insight
** Payment service providers should evaluate their European infrastructure strategy now, as strengthening SEPA adoption may reduce market access for non-aligned networks and create advantages for domestically integrated payment solutions.
Source: Finextra