Effective date of next version of Credit Transfer and Direct Debit Rulebooks will be 1 February 2014
The publishes updated versions of the Single Euro Payments Area () scheme rulebooks in November of each year. These updated versions normally take effect in the third week of November of the following year. In accordance with industry best practice, payment service providers and their suppliers therefore have sufficient lead time to address rulebook updates prior to such changes taking effect.
The next version of the Credit Transfer () and Direct Debit () Rulebooks ( Rulebook version 7.0, Core Rulebook version 7.0 and Business to Business (B2B) Rulebook version 5.0), will be published in November 2012. Based on the established release management cycle, the updated versions should take effect on 16 November 2013. stakeholders however, are currently working towards achieving compliance with the Regulation () No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009 (the Regulation), which defines 1 February 2014 as the deadline in the euro area for compliance with the core provisions of this Regulation.
As a result, the decided to postpone the effective date for the Rulebook version 7.0, Core Rulebook version 7.0 and B2B Rulebook version 5.0, from 16 November 2013 to 1 February 2014. This allows market participants sufficient time to adapt their systems and operations to comply both with the Regulation and the updated version of the rulebooks.
Publication of latest edition of White Paper on Mobile Payments and launch of public consultation of the revised Mobile Contactless Card Payments Interoperability Implementation Guidelines
The Plenary approved release of the latest edition of the White Paper on Mobile Payments. This document was updated based on the feedback received from stakeholders during a public consultation earlier this year. The also approved publication of the revised Mobile Contactless Card Payments Interoperability Implementation Guidelines for a three month public consultation. The White Paper on Mobile Payments and the Mobile Contactless Card Payments Interoperability Implementation Guidelines will be published on the Website shortly. For further information, refer to the article 'M-Payments: The Advances its Work Concerning Mobile Payments' (see 'related article in this issue' below).
Next steps with regard to the Fixed Amount Scheme
It was decided that prior to continuing work to finalise the optional Fixed Amount (FA) Scheme, the following bodies would be consulted: the Payment Systems End User Committee (EUC) - in particular the BEUC (Bureau Européen des Unions de Consommateurs), the European Consumers' Organisation - and the Council chaired by the European Commission (the Commission) and the European Central Bank (ECB), in order to ensure that the work is supported by the end users as well as the ECB and the Commission.
The new optional Scheme will apply the regime defined in the Payment Services Directive (PSD) with regard to refund rights; e.g. the refund right would not apply in cases of authorised transactions when the exact amount of the direct debit collection is agreed between the payer (debtor) and the biller (creditor). This option would be contingent upon the payer and the biller having agreed the exact amount and the frequency of collections in the mandate. The mandate to be signed by a payer authorising a biller to collect payments under the new FA Scheme, would clearly highlight the difference to the Core Scheme as regards the application of the refund right in case of authorised transactions to avoid misuse of the 'no-refund' feature.
The Plenary had resolved in September 2010 that the FA Rulebook version 1.0 and related implementation guidelines are approved as ready to be communicated to national banking communities, relevant stakeholders and suppliers, recognising that adjacent deliverables remain to be completed. Approved translations and a specific set of layout guidelines for a separate FA mandate would have to be prepared.
and its members decide to abandon the further development of the draft e-Payment Framework
The and its members decided to abandon the further development of the draft e-Payment Framework (and any standardisation initiatives that would have the same object or effect). In September 2011, the European Commission launched a competition investigation into the 's work on the draft e-Payment Framework. Subsequently, the suspended all activities related to the draft e-Payment Framework including the plan to launch a public consultation on it.
The draft framework had been developed in response to repeated requests by several European Union (EU) authorities and European e-merchants for the European banking industry to produce a model which allows -wide online payments based on credit transfers. This draft framework was designed to support -wide interoperability between existing and new e-payment schemes that rely on credit transfers.
The remains committed to contributing to the creation of an efficient and secure wide online payments landscape responding to market needs. This is in line with the objectives set out in the European Commission's Digital Agenda for Europe. Defining the legal and security requirements applicable to online payments in based on a close dialogue between all stakeholders is however a prerequisite to developing a secure -wide online payment environment.
For further information, refer to the statement 'The EPC Abandons Work on Draft SEPA e-Payment Framework'.
Javier Santamaría is the Chair of the .
Related article in this issue:
M-Payments: The EPC Advances its Work Concerning Mobile Payments. EPC publishes latest White Paper on Mobile Payments and launches public consultation of the revised Mobile Contactless SEPA Card Payments Interoperability Implementation Guidelines
Related articles in previous issues:
New optional SDD Fixed Amount Scheme. Public consultation to close on 13 May 2010 ( Newsletter, Issue 6, April 2010)
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