Monitoring payment behaviour in Europe: The launch of the EU Payment Observatory
4 July 2023 15:00-16:15 (CET) Zoom
Late payments in commercial transactions have multiple damaging effects, particularly amongst SMEs, causing one out of four bankruptcies in the European Union. The Late Payment Directive, which is currently under review, aims to address this issue and improve B-2-B and B-2-G payment culture. One of the main issues identified since its adoption in 2011 is the lack of monitoring tools which hampers enforcement.
The new EU Observatory of Payments in Commercial Transactions (“EU Payment Observatory”) aims to fill that gap. It will monitor trends and developments on payment behaviour in commercial transactions in the EU and provide a repository of relevant initiatives and policy documents in the area of late payments. The Observatory will also be a place to exchange ideas, opinions, knowledge and best practices and to promote the importance of reducing late payments.
During this webinar the EU Payment Observatory will be presented as well as its first report on preventive measures. A discussion will follow on the need to develop monitoring tools that increase
our understanding of the factors underlying payment behavior, national experiences with Observatories and effective ways to promote greater transparency and accountability on payment
This document has been prepared for the European Innovation Council and SMEs Executive Agency (EISMEA). However, the information and views set out in this document are those of
the authors and do not necessarily reflect the official opinion of EISMEA or the European Commission. Neither EISMEA, nor the European Union institutions and bodies or any
person or organisation acting on their behalf may be held responsible for the use which might be made of the information contained therein.