The European Payments Council (EPC) publishes today the updated version 1.2 of the 2019 SEPA payment rulebooks. The version 1.2 has no impact on the business and operational rules compared to the versions 1.0 and 1.1 of the 2019 rulebooks, or on any specification in the related implementation guidelines.
The version 1.2 of each 2019 EPC SEPA payment scheme rulebook includes an updated section 5.4 which mentions among others the relevant authorisation and regulatory requirements for Payment Service Providers (PSPs) from countries not belonging to the European Economic Area (EEA), to which the geographical scope of the SEPA payment schemes has been extended.
An update to the section 5.4 is needed due to the inclusion of Andorra and the Vatican City State/the Holy See in the geographical scope of the SEPA payment schemes, and the ratification of the United Kingdom (UK) Withdrawal Agreement paving the way for the Brexit at the end of 2020.
The version 1.2 of each 2019 EPC SEPA payment scheme rulebook is in force from 1 December 2020 to 21 November 2021.
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