Get involved in the annual scheme change management cycle!
The Single Euro Payments Area () payment schemes, as set out in the Credit Transfer () and Direct Debit (SDD) Rulebooks, evolve based on a transparent change management process adhered to by the European Payments Council (). The principles governing the evolution of the Schemes are set out in section 3 of the Scheme Management Internal Rules (see 'related links' below). The first step in the annual scheme change management cycle is the introduction of suggestions for changes to the schemes by any interested party. Deadline for receipt of such suggestions is end February each year.
In consideration of the suggestions received, the Payments Working Group (SPS WG) develops a single change request document per rulebook (the Rulebook, the Rulebook and the SDD Business to Business Rulebook). The preparation of the change request documents involves analysis of the suggestions for changes received which may include, as appropriate, a cost-benefit analysis, dialogue with the initiator and market need analysis. Based on this review, the SPS WG issues a recommendation on how each change suggestion should be handled. All suggestions to modify the rulebooks received by the are published on the Website, permitting such a list to be openly viewed by all stakeholders. The change requests for the current year will be released for a three-month public consultation in May 2012. Taking into account comments received during the consultation, the SPS WG will complete a change proposal per rulebook for approval by the Plenary in September 2012. As a result of this annual change cycle, the and SDD Schemes incorporate numerous features introduced by end users.
The updated versions of the and SDD Rulebooks will be published in November 2012. In accordance with industry best practice, payment service providers and their suppliers have a one-year lead time to address rulebook updates prior to such updates taking effect.
Figure 1: Annual Scheme Rulebook Change and Release Management Cycle
Important notice to all stakeholders: impact of the Regulation on and SDD Rulebook Release Management
In February 2012, the European legislator adopted the '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' (see below) (the Regulation). The and SDD Schemes will have to comply with the technical requirements detailed in Article 5 and in the Annex to the Regulation. Article 13 of the Regulation empowers the European Commission to amend the technical requirements set out in the Annex to the Regulation through delegated acts (see also Article 14). It remains the 's objective to ensure that the and SDD Rulebooks evolve in response to proven market needs, based on a predictable release schedule. The must, however, clarify that moving forward, the may be required to adapt the rulebook release schedule at short notice to ensure compliance with technical requirements set out in the Annex to the Regulation as amended by the European Commission.
All market participants obliged to adapt systems and operations with the technical requirements applicable to the and SDD Schemes mandated by the European Commission, would greatly appreciate it if the regulators were able to make publicly available specific information on the principles and timelines governing the further evolution of the technical requirements to be included in the schemes.
It should be further noted that some of the change suggestions which will be part of the forthcoming public consultation have been introduced by the in order to ensure the schemes' compliance with the Regulation.
Etienne Goosse is the Secretary General.
Related articles in this issue:
Villeroy & Boch: 'The Long Term Benefits of SEPA Exceed the Short Term Efforts to Get There.' This company completed migration to SEPA Credit Transfer in 2008 and migration to SEPA Direct Debit in 2011
Early Movers Confirm: ISO 20022 Message Standards Generate Tangible Benefits. A guide for payment service users on the impact of provisions in the SEPA Regulation regarding the use of the ISO 20022 message standards
Related articles in previous issues:
The New European Decision-Making Landscape: How the European Commission Rules Through 'Delegated Acts'. SEPA Regulation empowers the European Commission to mandate technical requirements applicable to SEPA payment schemes ( Newsletter, Issue 13, January 2012)
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