The SEPA Payment Account Access (SPAA) scheme rulebook foresees the publication of a set of business conditions in line with the Euro Retail Payments Board (ERPB) mandate.
The business model, developed within a multistakeholder approach by an independent economic consultant appointed by the EPC through a Request for Proposal (‘RFP’), consists in a default remuneration model which is comprised of:
• Default Asset Fees related to the SPAA ‘premium’ assets and ‘premium’ features (as described in the SPAA scheme rulebook v1.1) that are exposed by a scheme participant ‘Asset holder’ to a scheme participant ‘Asset Broker’.
• A Default API Access Fee for the use of the ‘premium’ SPAA API itself, as provided by the Asset Holder.
The abovementioned Default Fees will apply amongst scheme participants for scheme-based services, unless Asset Holders and Asset Brokers have bilaterally agreed on a different (lower) amount.
The ‘premium’ SPAA API may be used by scheme participants also to access ‘basic’ services (i.e., services within the scope of PSD2), with the requirement that in that case only the use of the ‘premium’ API will be subject to scheme-based remuneration.
Although it is expected that SPAA Scheme Participants will by default use the SPAA API for transactions between them, the availability of the ‘premium’ SPAA API does not in any way exclude nor prevent an Asset Holder and/or Asset Broker to use APIs already developed under the access-to-account requirements of PSD2 for ‘basic’ services.
Agreements pertaining to this aspect are entirely left to market participants’ considerations.
The SPAA Scheme Default Fees are inter-scheme participants fees only. Charges to customers (end users) are outside the scope of the SPAA Scheme, in line with the ERPB Report recommendations. Accordingly, the basis and level of charges to customers are entirely a matter for individual scheme participants and their customers.
The SPAA Scheme Default Fees are and will remain separate from the EPC Scheme Participation Fees. The EPC will determine in due course the amount of such fees for the SPAA Scheme and inform the market accordingly.
In line with the above, the EPC is publishing the first version (v1.0) of the SPAA scheme Default Fees, which is available for download below.
These Default Fees are expected to be revised early next year and on a periodic basis to duly reflect relevant market developments. To this end, the SPAA Multi-Stakeholder Group (SPAA MSG) is planning to assess how to cater for future iterations of the Default Fees to ensure, within a robust and transparent recalibration model, that they remain fit for purpose and aligned with market and regulatory developments.