Welcome to The Electronic Money Association (EMA)

We are the trade body representing the interests of e-money issuers and innovative payment service providers including payment institutions, open banking providers and crypto-asset providers across the EEA. The EMA provides members with a forum to share issues that impact new means of payment, and provide a means for pursuing these to resolution. The association has been involved in negotiating payment-related European Directives, regulations and in implementing legislation. We develop industry good practice in areas of compliance, customer service and enable the sharing of know-how.

We have provided a voice for the industry with government, public bodies, businesses and consumer groups. The EMA has been privy to the evolution of innovative payments from small niche offerings to a growing sector that is offering alternatives for payments to consumers and businesses alike.

EMA structure

The Electronic Money Association meets and takes its decisions in plenary. All members have equal say in discussions, in the activities of the association and in the decision-making process.  Subcommittees meet to address specialist issues, and report their findings into the plenary sessions. Day to day activities are undertaken by the secretariat, which is appointed by members.

Committees and working groups 

Monthly EMA plenary meetings cover all the regulatory developments relevant to the sector, discuss responses to consultations, and share good practice. Our regular meetings are supplemented by bi-monthly Money Laundering and Fraud Subcommittees, monthly Open Banking, and Crypto asset Sub Committees, and ad-hoc IT Security subcommittee meetings. We also have ad-hoc conference calls to address issues of current interest – for example CBDCs or GDPR – where we update firms on developments, assisted by expert analysis, track arrangements in the major EEA MS where firms are operating, and address queries from member firms.

Currently active subcommittees and working groups:

  • Anti money laundering subcommittee
  • Fraud subcommittee
  • IT security subcommittee
  • Open finance working group
  • Cryptocurrency working group
  • CBDCs working group
  • PISA working group

EMA Officers

The association elects its officers annually. Officers include; a chairperson who presides over meetings, a chief executive who is responsible for the business of the association and a minutes secretary.

Chief executive – Dr Thaer Sabri

Thaer has more than 25 years’ experience in the electronic money industry, in a regulatory capacity as well as in product management and business development. Thaer began his payments career at the prepaid card scheme Mondex International and then at the internet startup beenz.com before founding Flawless Money in 2001. He is chief executive of the Electronic Money Association, and leads industry regulatory interface with governments and public institutions. Thaer attended Sheffield University, Imperial College (University of London) and Birkbeck College (University of London) and is a solicitor in England and Wales. He now practises as a consultant.