appoints Javier Santamaría for a second term as Chair and elects Narinda You as Vice Chair
At its meeting on 18 June 2014, the Plenary of the European Payments Council ( ) appointed Javier Santamaría for a second term as Chair. The Plenary elected Narinda You as Vice Chair. Ms You succeeds former Vice Chair Günther Gall who will be retiring following completion of his term in office. Ms You and Mr Santamaría commenced their two-year term on 18 June 2014.
Narinda You has served as a member of the Plenary since 2004. Ms You is Secretary General and Head of Interbank Relations at Crédit Agricole – Global Transaction Services. Prior to joining Crédit Agricole, she worked with Crédit Lyonnais where her extensive portfolio featured assignments in corporate banking, communication and marketing as well as corporate market organisation and governance. With Crédit Lyonnais, Ms You also held the position of Head of Market Infrastructures and Innovation. In addition to the , Ms You represents Crédit Agricole in various other industry bodies both at national and European level including in the Euro Banking Association and the French Banking Federation. Ms You chairs the Payments Services Working Group of the European Association of Co-operative Banks.
Chair Javier Santamaría commented: “On behalf of the I would like to express my respect and gratitude for the invaluable contribution of Günther Gall during his tenure as Vice Chair. His advice and support, reflecting forty-five years of experience in all aspects of payments, were instrumental at a time when market participants in the euro area were preparing to achieve Single Euro Payments Area ( ) compliance by the formal 1 February 2014 deadline mandated by European Union ( ) law.”
“Narinda You and I are very honoured to have the opportunity to continue the important work aimed at promoting the integration of the euro payments market together with the members. The remains committed to contributing, together with all other stakeholders, to the creation of an efficient and secure payments landscape, which responds to market needs,” he added.
Vice Chair Narinda You said: “I very much look forward to supporting the in this new role at this juncture in the process. With migration to in the euro area nearly complete it has to be kept in mind however, that this does not mark the end of the process.”
“The focus going forward is to ensure meeting the 1 February 2016 deadline regarding the migration of so-called niche products, where applicable. On that date, also possible exemptions regarding the use of the International Bank Account Number (IBAN), the Business Identifier Code (BIC) and the ISO 20022 message standards will expire. Last but not least, market participants in non-euro countries must comply with the requirements by 31 October 2016,” she pointed out.1
Narinda You stressed: “Meeting these next deadlines established by the lawmakers requires continued and coordinated efforts by the public authorities driving the process, the representatives of payment service users as well as banks and other service providers.”
For more information on next deadlines mandated with ‘Regulation ( ) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro’, also known as the Regulation, refer to the article, entitled ‘1 August 2014 Does Not Mark the End of the Migration Process. Get Ready for 2016. Act Now’ in this edition of the Newsletter (see ‘related articles in this issue’ below).
The Plenary agreed its position with regard to the report of the European Parliament’s Economic and Monetary Affairs Committee on the European Commission’s proposal for a revised Payment Services Directive
In July 2013, the European Commission issued the proposal for a revised Payment Services Directive ( ). This draft legislative act remains subject to review and adoption, respectively, by the co-legislators. These are the European Parliament and the Council of the . (The Council of the is the institution where the Member States’ government representatives sit, i.e. the ministers of each Member State with responsibility for a given policy area.)
legislation proposed by the Commission related to payments is considered by the European Parliament’s Economic and Monetary Affairs Committee (ECON) prior to the European Parliament taking a vote on a proposal. The ECON agreed its proposed version of including amendments to the Commission’s proposal on 20 February 2014. The members of the European Parliament approved the final ECON report on at its plenary session on 3 April 2014. However, the European Parliament postponed the vote (in first reading) on the related draft legislative resolution until after the May 2014 European Parliament elections.
At its meeting in June 2014, the Plenary agreed its position with regard to the ECON report on the Commission’s proposal for . The Plenary reiterated the need for the (and other legislative and regulatory initiatives) to address key requirements related to payment account access services such as supervision and licensing, security, consumer and data protection, transparency, liability allocation and the need for explicit consent. The has identified considerable scope for amendment of the proposed new set of rules related to the activity of so-called third party payment service providers ( ) offering payment initiation or payment account information services.
For details on the ’s key considerations with regard to the proposed rules related to the activity of , refer to the article, entitled ‘ : Calls on Lawmakers to Maintain the Firewall Protecting Consumers Making Internet Payments. This Means: No Sharing of Any Personalised Security Credentials with Third Parties’ in this edition of the Newsletter (see ‘related articles in this issue’ below).
The has also called attention to the fact that will continue to be of particular relevance with respect to Direct Debit ( ) services due to the fact that it defines common rules for the authorisation and the refund of direct debits. The sees a pressing need for a review of the proposed new Article 67 regarding the details of the unconditional refund right for direct debits.
The Blog, entitled ‘ : The New Article 67, (‘Refunds for Payment Transactions Initiated By or Through a Payee’), Proposed by the European Commission Risks Undermining Consumer’s Unconditional Refund Right for Direct Debits Included with the Direct Debit Core Scheme’ (see ‘related links’ below), details the amendments to Article 67 suggested by the .
The Plenary noted that the draft text agreed by the European Parliament introduces several changes to the Commission’s proposal. In the view of the , however, additional amendments will have to be agreed in the further dialogue between the co-legislators to ensure the security of bank customers’ funds and data with payment account access services under the forthcoming as well as consumer’s continued unconditional refund right for direct debits included with the Core Scheme.
Approval of the document ‘ Overview on Mobile Payments Initiatives’
The Plenary approved the document ‘ Overview on Mobile Payments Initiatives’ (see ‘related links’ below) which was published on the Website on 26 June 2014.
Mobile phones have achieved full market penetration and rich service levels, making them an ideal channel for payment instruments. At the same time, the mobile payments ecosystem continues to grow and mature rapidly. For stakeholders in the payments industry, it is important to have a good insight into the latest trends within mobile payments and market developments. Therefore the has decided to provide an overview on the new initiatives on mobile payments in and beyond, which is reflected in the newly published ‘Overview of Mobile Payment Initiatives’.
This document describes various existing and new initiatives on mobile payments and aims to create awareness on the latest developments, based on the following sources:
- Contributions by members on community initiatives.
- Initiatives reported in various newsfeeds.
It contains sections highlighting underlying payment instruments, mobile wallet initiatives, and developments on mobile points of sale (mPOS), all of which have newly appeared on the market over the past year. This first version of the report includes initiatives launched over the last seven months (November 2013 through May 2014) within and outside.
The collection of the initiatives is done on a best-effort basis and is not exhaustive. The inclusion of any initiative into the document does not imply that the in any form endorses, supports, or recommends such initiative.
For more information, refer also to the article, entitled ‘ Publishes Overview of Mobile Payments Initiatives in and Beyond’ in this edition of the Newsletter (see ‘related articles in this issue’ below).
Etienne Goosse is the Secretary General of the .
EPC Blog (15 April 2014): PSD2: The New Article 67, (‘Refunds for Payment Transactions Initiated By or Through a Payee’), Proposed by the European Commission Risks Undermining Consumer’s Unconditional Refund Right for Direct Debits Included with the SEPA Direct Debit Core Scheme
Related articles in this issue:
PSD2: EPC Calls on EU Lawmakers to Maintain the Firewall Protecting Consumers Making Internet Payments. This Means: No Sharing of Any Personalised Security Credentials with Third Parties. Update on legislative process leading to the adoption of the revised Payment Services Directive
Related articles in previous issues:
Newsletter: Articles Published in the Section ‘EPC Latest News’. Each edition of the Newsletter reports on main decisions taken by the Plenary
1 The ‘Regulation ( ) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro’ (the Regulation) stipulates that credit transfer and direct debit transactions with a cumulative market share of less than 10 percent in an Member State that were granted a waiver must comply with the provisions set out in this legislative act only by 1 February 2016. The Regulation has also introduced several exemptions regarding the use of the IBAN, the BIC and the ISO 20022 XML message standards by the February 2014 deadline. Member States have discretion as to whether they will use any or all of the options to derogate from the 1 February 2014 deadline (until 1 February 2016) with regard to the use of the IBAN, the BIC and the ISO 20022 XML message standards by payment service users.
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