March 2017 - Issue 33
As we will soon leave the first quarter of 2017 behind, long term projects continue on their paths to fruition and new developments present opportunities and challenges.
Our highlights for March 2017 include:
- The details about the implementation of the revised Payment Services Directive (PSD2) are nearly here: the European Banking Authority recently released the final draft Regulatory Technical Standards on strong customer authentication and common and secure communication under PSD2.
- Registration is open for the SEPA Instant Credit Transfer scheme (SCT Inst). Payment Service Providers can start adhering to the scheme if they wish to propose solutions based on SCT Inst in time for its launch this November. If you want to hit the ground running, Leo Lipis shares with us lessons learned from small- and medium-sized banks that have already successfully put instant payments into operation.
- We continue to explore the global payments landscape. This month, the U.S. Payments Forum reports on America's ongoing migration to EMV chip technology and the growth in mobile and contactless payments.
The EPC is stepping up its communications to match the pace of the changing payments ecosystem. The EPC website is getting a makeover before Summer, and in the newsletter we will soon be switching our extensive coverage of the latest topics in the payment industry from quarterly to monthly.
So welcome once more to the EPC newsletter. We hope you find plenty of insights into the issues that drive your business, and look forward, as ever, to hearing your thoughts.
Policy, regulatory, and legal issues
How can Application Programming Interface standardisation be achieved in the context of the revised Payment Services Directive?
The role of Application Programming Interface (API) in the European payment industry’s response to the revised Payment Services Directive (PSD2) is a hot topic. But how can the industry achieve a level of API interoperability that helps lower the investment costs of the implementation of PSD2? What other key aspects of the relationship between PSD2 and API should payment professionals consider?
The Austrian payment landscape: where innovation meets tradition
Do you know that nearly one third of cashless transactions in Austria are direct debits? And that contactless payments grew by 300 percent in just one year? Peter Heiling from the Austrian payments association STUZZA takes a closer look at Austrian payment trends. In addition, our infographic highlights the key characteristics of the Austrian payment landscape.Read more
SEPA Instant Credit Transfer scheme: registration is now open!
Payment Service Providers can now register for the EPC’s SEPA Instant Credit Transfer scheme and offer their customers this new pan-European service as early as November.Read more
The US payments landscape: EMV, card-not-present and mobile ecosystems
09.03.17 By Randy Vanderhoof, director of the U.S. Payments Forum
There are many moving parts in the US payments technology landscape. Randy Vanderhoof, director of the U.S. Payments Forum, gives his insights on this landscape, and shares what the U.S. Payments Forum is doing to support new and emerging payments technologies.Read more
Around the web
The latest thought-provoking reports on payments
Our selection of interesting, recently published reports will update you on the changes currently at work in the payment industry.Read more
Policy, regulatory, and legal issues
New rules are significantly softened in the European Banking Authority´s final draft RTS on strong customer authentication and common and secure communication
The main change introduced in the final draft Regulatory Technical Standards (RTS) is the addition of two possible exemptions to strong customer authentication (SCA). The increase of the threshold amount for the application of SCA principles when making remote payments is another highlight of the updated RTS, helping keep online payments easy and fast for consumers.Read more
Instant payments: lessons learned from early adopters
09.03.17 By Dr. Leo Lipis, Chief Executive of Lipis Advisors
Recent research from Lipis Advisors explores how small- and medium-sized banks approach the implementation of instant payments using practical insights from organisations that have successfully introduced instant payments. The research offers important insights into the challenges and success factors behind the development of instant payments, which will surely be of interest to all stakeholders preparing the implementation of the EPC’s SEPA Instant Credit Transfer scheme which becomes effective in November.Read more
Harmonised electronic invoice presentment and payment services a step closer
The new Euro Retail Payments Board (ERPB) working group co-chaired by the European Payments Council will produce its interim report on the harmonisation of electronic invoice presentment and payment (EIPP) services for the June 2017 meeting of the ERPB.Read more