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EPC Newsletter
September 2016 - Issue 31

The Chair's foreword

Trends in payments both in Europe and beyond, continue to concentrate on three core, distinct themes – integration, innovation and standardisation. As with our previous editions of this newsletter, our September version focuses on these three topics, highlighting innovative technologies, countries and schemes, and giving our readers an update on the latest regulations in the pipeline. 

In this edition, we hear from Fabrice Denèle, Head of Payments at BPCE Group about what options banks have to future proof their businesses in light of the emergence of innovative fintech and challenger brands.

Keeping in line with previous versions of the newsletter, we also examine global trends with a contribution from Pat Adams from the Southern African Development Community Banking Association about payment harmonisation in the region and we review the current innovative payment landscape in the Netherlands with an infographic and an interview with Piet Mallekoote from the Dutch Payments Association. 

The Dutch plan to make instant payments “the new normal” by 2019 resonates with the strong interest that the payment community has demonstrated on the SCT Inst scheme’s public consultation – now closed – on which you can find out more in this edition.

On the subject of the regulatory agenda, we provide an update on the public consultations on the draft EBA Regulatory Technical Standards. Clifford Chance also contributes with a piece examining the revised Fourth Money Laundering Directive and Wire Transfer Regulation.

 

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Country profile

The Dutch payment landscape: One of the most cashless in Europe

07.09.16

This quarter we continue with our exploration of countries developing innovative payment habits with the Netherlands, which is aiming for 60 percent of its retail payments to be cashless by 2018. In addition to our interview with Piet Mallekoote, from the Dutch Payments Association, don’t miss our infographic providing a snapshot of the pioneering Dutch payment landscape.

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EPC News

SCT Inst consultation: A tremendous participation from payment stakeholders!

07.09.16

Stakeholders across the payment chain have demonstrated their strong interest in the public consultation on the upcoming SEPA Instant Credit Transfer scheme. Now that the consultation is over, the EPC is analysing over 350 suggestions, and will publish the finalised scheme rulebook in November 2016.

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Policy, regulatory, and legal issues

Fourth Money Laundering Directive and revised Wire Transfer RegulationKey changes to the EU's anti-money laundering and counter-terrorist financing regime coming into effect from 2017: What you need to know

07.09.16 By Michael Lyons, Oliver Pegden, Louise Baxter, Clifford Chance

In July 2016, the European Commission introduced amendments to the Fourth Money Laundering Directive (MLD4) and proposed that Members States bring implementation forward to the 1 January 2017. What are the key elements that the payment industry should bear in mind regarding MLD4 and the related revised Wire Transfer Regulation?

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Mobile and online payments

The ERPB recommendations to boost contactless payments in Europe are progressing with the publication of a new consumer leaflet

07.09.16

To enhance society’s awareness of contactless payments, Euro Retail Payments Board members recently published a short practical guide for consumers about this new, convenient method of payment.

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Innovation

Payment harmonisation in the Southern African Development Community (SADC) regionThe SADC Integrated Regional Electronic Settlement System (SIRESS) is enabling cross border payments in the SADC region

07.09.16 By Pat Adams, Manager for Communications & Training, SADC Banking Association

This article explores how Southern African banks are aiming to increase financial integration in the area, by establishing a new cross border payment platform dedicated to the topic. The article takes a closer look at a major project, SIRESS, launched in 2013, that enables real-time credit transfers in South African Rand across the area.

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Policy, regulatory, and legal issues

Discover the differing views of all interested parties on the future of the European market for retail financial services

07.09.16

View a summary of the feedback the European Commission received on its Green Paper on retail financial services. As a next step, the Commission might published an Action Plan.

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Innovation

What are the options for banks to prepare for their future?Banks must transform if they are to adapt to an increasingly competitive and highly regulated market

07.09.16 By Fabrice Denèle, Head of payments, BPCE Group

Regulations are changing fast in the retail banking sphere, and combined with the entry on the market of less-regulated Fintech players, banks are urged to adapt. This article analyses the transformations banks have to endeavour to be favoured by customers.





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Policy, regulatory, and legal issues

The European Banking Authority launches public consultation on PSD2

07.09.16

The EBA has been mandated to develop under the revised Payment Services Directive (PSD2) five sets of Regulatory Technical Standards (RTS), five sets of Guidelines and one set of Implementing Technical Standards. 



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Around the web

We bring you some of the best reports on payments published in the last quarter

07.09.16

If you didn’t get a chance to stay up-to-date with all the reports about payments which have been released this summer, we have gathered a few of them for the EPC newsletter.

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#Contactless payments can help reduce #cash & cheque. Spread the word on their convenience to your friends! https://t.co/ZKzCPke9dA
23/09/2016