In your view, which of the following initiatives will have the greatest impact on the European payments market? This poll is closed.

European Payments Council Blog and Discussion Board

Join the European Payments Council (EPC) discussion board to have your say on recent Single Euro Payments Area (SEPA) developments and highlight subjects that you would like to debate. The platform has been designed to ensure the communication of frequent and useful EPC information as well as engage the payments community and encourage the exchange of opinions. Please note that by accessing or contributing to the discussion board you agree to abide by the terms of the EPC Blogging Policy, so please read them carefully before doing so.

To receive notification when a new EPC blog goes live, subscribe using the RSS feed in the left-hand column of this webpage.

European Commission Proposes Separate Deadlines for Migration to SEPA Credit Transfer and SEPA Direct Debit - EPC Advocates Setting One End Date Viewed 6167 times

26-07-2011 By Gerard Hartsink, Chair of the EPC

The majority of market participants recognise the value of setting a deadline for migration to the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes developed by the European Payments Council (EPC) at the request of European authorities and in close dialogue with customer representatives. The EPC shares the view that an end date for phasing out legacy euro payment schemes for credit transfers and direct debits ensures planning security for all market participants.


In December 2010, the European Commission published a proposal for a Regulation establishing technical requirements for credit transfers and direct debits in euros and amending Regulation (EC) No 924/2009. This legislative initiative is commonly referred to as the forthcoming SEPA Regulation expected to also define mandatory deadlines for migration to harmonised European payment schemes. The European Commission proposes to set separate deadlines for migration to European credit transfer and direct debit schemes. It states in its SEPA Regulation proposal that credit transfers will have to comply with the technical requirements twelve months after the Regulation coming into force; direct debits will have to comply 24 months after entry into force. The EPC advocates setting one end date at European Union (EU) level for migration to SCT and SDD. This would spare bank customers such as businesses and public administrations the duplication of implementation efforts and required resources.


The European Commission proposal for a SEPA Regulation was reviewed by the Economic and Monetary Affairs Committee (ECON) of the European Parliament and the European Council representing EU Member States during the first half of 2011. The EPC welcomes that the members of the European Parliament represented in the ECON also suggest setting one end date. According to the ECON, both euro credit transfers and direct debits should comply with the forthcoming SEPA Regulation 24 months after this Regulation comes into force.


In a next step, the European Parliament together with the European Council representing EU Member States and the European Commission will engage in a trialogue on the forthcoming SEPA Regulation which is expected to be adopted in 2011. One open question these institutions must resolve is this: will the Regulation establish one or two separate end date(s) for migration to harmonised European credit transfer and direct debit schemes?


What is your view? Join the discussion and have your say: please share your opinion using the comment functionality below.


For more information and related links, please view the page 'SEPA Vision and Goals' on the EPC Website.


If you would like to comment on this blog entry or propose a subject for discussion, please identify yourself with your first and last name. Please note that your name will appear next to your comment. Email addresses will not be published.

To receive notification when a new comment is added to this specific discussion, please subscribe to get updates by email (using the "Subscribe" link below) or RSS (using the "RSS Feed" at the top left of the page). (These links are not available on the mobile version of the EPC Website, to subscribe by email or RSS, please visit the standard version of the EPC Website).

Previous entries

26.02.15SEPA Compliance in the Euro Area: Get Ready for February 2016. Act Now

10.02.15European Payments Council 2.0: the EPC Has Adapted its Structure to Further Enhance Governance and Stakeholder Involvement

26.01.15EPC Publishes the SEPA Direct Debit (SDD) Core Rulebook Version 9.0 and SDD Business to Business Rulebook Version 7.0 to Take Effect in November 2016

12.01.15European Union Regulatory Initiatives Impacting the Security of Euro Payments: the 2015 Outlook

09.12.14Update on Work Items Addressed by the Euro Retail Payments Board (ERPB) Chaired by the European Central Bank: SEPA Credit Transfer, SEPA Direct Debit, Instant and Mobile Payments

25.11.14EPC Publishes Updated Versions of the SEPA Credit Transfer and SEPA Direct Debit Rulebooks to Take Effect in November 2015

06.11.14Next Steps to Create the Digital Single Market: E-invoicing Continues to Grow Spurred on by Public Policy and the Accelerating Dynamics of E-business

23.10.14The New European Commission: a Closer Look at President Juncker’s Vision for the EU Internal Market and Economic and Monetary Union

30.09.14The New European Commission is Expected to Take Office on 1 November 2014. A Recap of the Role of the European Commission in the Evolution of SEPA Credit Transfer and SEPA Direct Debit

18.09.14Next Steps in the Area of Online Payments: Is Europe Ready for e-Identity?

28.08.14Learn More About Work Items Related to SEPA Credit Transfer and SEPA Direct Debit to be Addressed by the New Euro Retail Payments Board (ERPB) Chaired by the European Central Bank

07.08.14Summer Reading: Food for Thought on the Future of European Payments, Contributed to the EPC Newsletter by Experts Representing Various Market Segments

17.07.141 August 2014 Does Not Mark the End of the Migration Process. Get Ready for SEPA 2016. Act Now

01.07.14Participate in New EPC Poll: In Your View, Which Regulatory Initiatives Will Have the Greatest Impact on the European Payments Market Going Forward?

12.06.14PSD2: EPC Calls on EU Lawmakers to Maintain the Firewall Protecting Consumers Making Internet Payments. This Means: No Sharing of Any Personalised Security Credentials with Third Parties

19.05.14EPC Launches Three-Month Public Consultation on the Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes. All Stakeholders are Invited to Provide Feedback by 15 August 2014

06.05.14Join the Debate on the Further Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes: Less Flexibility, More Harmonisation? An Overview of the Options, Variations, Exceptions and Exemptions Possible in SEPA Today

15.04.14PSD2: The New Article 67, (‘Refunds for Payment Transactions Initiated By or Through a Payee’), Proposed by the European Commission Risks Undermining Consumer’s Unconditional Refund Right for Direct Debits Included with the SEPA Direct Debit Core Scheme

25.03.14PSD2: EPC Identifies Considerable Scope for Amendments of the Proposed New Set of Rules Related to the Activity of Third Party Payment Service Providers Offering Payment Initiation or Payment Account Information Services

20.02.14Don't Count on 1 August 2014: Different SEPA Migration Deadlines Apply Across the Euro Area During the “Additional Transition Period” Agreed by the European Commission, the European Parliament and EU Governments