In January 2010 Payfair joined the Berlin Group initiative. Payfair explained the reasons as follows. "PayFair's vision of SEPA is an area where stakeholders can freely chose the card payment services and brands they want, benefiting thereby from a competitive landscape, engine for growth and innovation. Such free choice will be further enabled by the emergence of SEPA technical standards and specifications at each stage of the processing value chain. The Berlin Group is clearly contributing to the emergence and implementation of such a SEPA standard for the issuer and acquirer domain. This initiative will contribute to ensure that unbundling becomes a reality and enable both issuers and acquirers to develop effective SEPA wide processing and servicing strategies".