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In your view, which of the following initiatives will have the greatest impact on the European payments market?

European Commission proposal for revised Payment Services Directive (PSD2)
European Commission proposal for new Regulation on interchange fees for card-based payment transactions
Work programme of Euro Retail Payments Board, chaired by European Central Bank
SecuRe Pay Forum recommendations for security of internet payments; for payment account access services; for security of mobile payments
Guidelines and technical standards issued by European Banking Authority pursuant to mandate provided by proposed PSD2 (Articles 86, 87)
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EPC Newsletter
Issue 5 - January 2010

EPC Latest News

SEPA Scheme Change Management Cycle 2010Suggestions for changes must reach the EPC by end February 2010

28.01.10 BY Herman Segers

INTRODUCTION AND SUMMARY

The SEPA Schemes will evolve over time to reflect changes in market needs and updates in standards. Each SEPA Scheme Rulebook (SEPA Credit Transfer, SEPA Core Direct Debit and SEPA Business to Business Direct Debit) contains in Annex the Scheme Management Internal Rules that define the change management process applicable to the Rulebooks. The first step in the annual SEPA Scheme Change Management Cycle is the introduction of suggestions for changes to the Schemes by any interested party. The EPC invites stakeholders to submit suggestions for changes to the EPC by 28 February 2010 (a link to the relevant documentation is included at the end of this article). Herman Segers explains the process.

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The annual SEPA scheme change management process is based on the following principles:

  • There will be one unique release date per year for all SEPA Schemes
  • The release date will be aligned with the annual maintenance release of SWIFT in the 3rd week of November
  • There is a freeze period of 12 months preceding the release date

All suggestions for changes to the Scheme Rulebooks will be evaluated by the EPC SEPA Payment Schemes Working Group (SPS WG) and channelled into a single change request per Rulebook to be released for a three-month public consultation in May 2010. Updated versions of the Rulebooks will be published following approval by the EPC Plenary in September 2010. These Rulebook releases will take effect in November 2011.

For a detailed description of the SEPA Scheme Change Management Process refer to the article "Think ahead"; a link to this article is included below.

Herman Segers is the EPC Secretary General.


Related link:

Template for proposing a suggestion for a change to a SEPA Scheme

 

Related article in previous issue:

Think ahead. The SEPA scheme change management process (EPC Newsletter, Issue 2, April 2009)

Article104




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