SEPA Credit Transfer
SCT / SDD Rulebook Release Management
The European Payments Council (EPC) launched the SEPA Credit Transfer (SCT) scheme in January 2008, and the SEPA Direct Debit (SDD) Core and SDD Business to Business (B2B) schemes in November 2009. It launched the SEPA Instant Credit Transfer (SCT Inst) scheme in November 2016.
The SEPA payment schemes, as set out in the SCT and SDD rulebooks, evolve based on a transparent change management process adhered to by the EPC. This evolution reflects changes in market needs and updates of technical standards developed by international standards bodies, such as the International Organization for Standardization. The principles governing the evolution of the SEPA schemes are set out in the Scheme Management Internal Rules, which are an integral part of the rulebooks.
The scheme change management cycle provides all stakeholders with the opportunity to participate; i.e. to introduce change requests to the schemes. All change requests to the rulebooks received are evaluated by the EPC and consolidated into a single public consultation document per rulebook. The public consultation documents are then released for a 90 day public consultation. Change requests to the schemes that find broad acceptance in the entire stakeholder community and that are technically and legally feasible are taken forward. Change requests that lack such broad support are not – regardless of whether such a change is proposed by a payment service provider (PSP) or by a user representative. This ensures that the SCT and SDD schemes evolve in line with the requirements of the majority of market participants.
In a snapshot - The SCT and SDD rulebook versions until 2019
A scheme change management cycle had been organised throughout 2016 and ended with the publication of the 2017 SCT and SDD rulebooks on 24 November 2016.
The release management cycle for the SCT Inst Rulebook in 2016 had been organised somewhat differently. The EPC developed a draft SCT Inst Rulebook which has been submitted for a 90 day public consultation that ended on 10 July 2016.
The diagram below shows the dates as of which each rulebook version comes into effect:
The next scheme change management cycle will roll out in 2018
The EPC usually publishes new versions of the rulebooks (and associated implementation guidelines) once every two years in November, to take effect in November of the next year. This allows scheme participants to implement within their organisations the changes of the new versions, before they take effect.
The next scheme change management cycle will take place in 2018. Stakeholders are invited to submit change requests to the SCT and SDD rulebooks by 31 December 2017 by completing a dedicated template (see ‘EPC Technical documents’ below). The received change requests will be considered with regard to the rulebook versions and associated implementation guidelines to be published in November 2018 to take effect in November 2019.
Selection of articles from the EPC Newsletter and other sources
- Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 (the SEPA Regulation)
- EPC Newsletter: Evolution and Oversight of the SEPA Credit Transfer and SEPA Direct Debit Schemes: the Role of the European Commission and of the European Central Bank