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EPC Newsletter
December 2016 - Issue 32

The Chair's foreword

The winter solstice invites reflection on the achievements of the past year, and to concur with François de la Rochefoucauld (and to avoid always quoting Heraclitus): "The only thing constant in life is change". As the end of 2016 approaches, I cannot help but ponder 2016’s greatest hits, of which the SEPA Instant Credit Transfer (SCT Inst) scheme indisputably stands out. I also find myself examining what is in store for the payments industry in 2017.

The SCT Inst scheme, recently published by the EPC, just one year after the recommendation of the Euro Retail Payments Board (ERPB) to create a pan-European instant credit transfer scheme, will remain a key theme for 2017. In this issue, Payment Service Providers will learn how they can jump on board the instant payments train, and get ready to process the first SCT Inst transactions in November 2017. 

It is, however, the revised Payment Services Directive (PSD2), and in particular access to payment accounts, that is sitting in pole position to become 2017’s best-selling thriller. 

Our article on the subject discusses the key aspects of our position on the European Banking Authority’s draft Regulatory Technical Standards on strong authentication and secure communication. 

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EPC News

Get ready for the first SCT Inst transactions!

08.12.16 By Anthony Richter, Chair of the EPC Ad Hoc Task Force on Instant Payments, and Jean-Yves Jacquelin, Chair of the EPC SCT Instant Scheme Rulebook Development Task Force

What’s next for euro instant credit transfers in Europe now that the SEPA Instant Credit Transfer scheme has been published? PSPs are invited to board the instant payments train, at least as receivers, to increase the scheme’s reach and momentum, and satisfy growing customer expectations for fast and digital solutions.

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Country profile

Poland, an Eastern European country at the cutting-edge of payment technologies

08.12.16

We interviewed Pawel Widawski, from the Polish Bank Association, and discovered that although cash is still widely used in Poland, the hottest payment technologies – instant credit transfers, contactless, P2P mobile – have been developed and are becoming increasingly popular. Our supporting infographic provides the key facts and figures about the payment habits of Polish people.

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On the cards

The European card industry´s recently created association for standardisation is fully up and running

08.12.16

Since it became operational in September 2016, the European Cards Stakeholders Group (ECSG) has been busy. Among its first actions, it responded to the European Banking Authority’s consultation on the draft RTS. 

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Innovation

Canada draws line in sand on ISO 20022 adoption with payment system modernisation plans

08.12.16 By Jan Pilbauer, Executive Director, Modernisation and Chief Information Officer, Payments Canada

Learn how Canada is working on the implementation of ISO 20022, the payment messaging standard, and how it fits into the modernisation of its payment system, in particular in the overhaul of the country’s clearing and settlement system, and the construction of a real-time payment infrastructure.

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On the cards

Card Fraud Prevention Forum is set up to tackle rise in European card fraud

08.12.16

Reported card fraud reaches about € 1.5 billion a year in Europe. As a result, the EPC has decided to revamp a previous EPC taskforce into the ‘Card Fraud Prevention Forum’.

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Innovation

Payment solutions in innovative Estonia

08.12.16 By Jüri Laur, Head of Payment Services in LHV Bank

With a relatively new banking infrastructure, Estonia’s payment landscape is characterised by the prevalence of non-cash payment methods, such as cards, online banking, and Person-to-Person payments. Find out more about the innovative payment habits in Estonia, and about the case study of the Estonian bank LHV, which cooperates with FinTech start-ups in various projects, including one involving the Distributed Ledger Technology.

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EPC News

The EPC publishes updated SCT and SDD rulebooks

08.12.16

Following the public consultations earlier this year the EPC has now published the updated rulebooks for the SEPA Credit Transfer (SCT) and Direct Debit (SDD) schemes.

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Innovation

A perspective on the collaboration between FinTech start-ups and banks: An interview with Lázaro Campos, co-founder of FinTechStage

08.12.16

The cooperation between FinTech start-ups and banks is a topic that doesn’t go unnoticed in the payment industry. In this interview, Lázaro Campos, who knows both the FinTech and traditional payment industries, sheds some light about the benefits and challenges such partnerships can bring to both parties, and how he sees the future of innovation in payments. 

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Policy, regulatory, and legal issues

What´s next for retail payments in Europe? A brief summary of the outcome of the latest ERPB meeting

08.12.16

The latest meeting of the Euro Retail Payments Board (ERPB) took place on 28 November 2016. Payment Initiation Services, Person-to-Person mobile payments, SCT Inst, e-invoicing were among the topics discussed.

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Policy, regulatory, and legal issues

An insight into the EPC´s response to the public consultation on the EBA´s draft Regulatory Technical Standards under PSD2A need for technology neutral and future proof principles

08.12.16 By Ruth Wandhöfer, Chair of the EPC Payments Security Support Group and Marijke De Soete, Senior Consultant to the EPC

The EPC shares the main positions it supported in its response to the European Banking Authority’s Consultation Paper on the Draft Regulatory Technical Standards (RTS) on strong customer authentication and common and secure communication under the revised Payment Services Directive (PSD2).

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Around the web

A compilation of some interesting recent reports about payments

08.12.16

If you find it difficult to keep up to date with everything that is being published online about payments, then this section could help you by providing links to a selection of interesting and relevant reports.

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