Since it became operational in September 2016, the European Cards Stakeholders Group (ECSG) has been busy. This multi-stakeholder association aims to support and promote European cards standardisation, a mission it took over from the Cards Stakeholders Group (CSG), which was created by the in 2009. The transformation of the CSG into the ECSG, with the formal legal status of an international not-for-profit association, reinforces the commitment of the five industry sectors which were already represented in the CSG, i.e.:
- vendors (cards, payment devices, related IT systems),
- processors of card transactions,
- card schemes,
- payment service providers (represented by the ).
Currently the ECSG consists of 32 member organisations, and four observers including the European Commission and the European Central Bank.
Among its first actions, the ECSG responded to the European Banking Authority’s consultation on the draft regulatory technical standards on strong customer authentication and common and secure communication, under the revised Payment Services Directive (). The response has been made publicly available here.
The ECSG’s focus during this time has also been on processing the large amount of comments that were received during the three month public consultation (ending in August) on the Cards Standardisation Volume (the Volume). Formerly developed by the CSG, the Volume is a key document for the card industry, aimed at enhancing cards standardisation, interoperability, and security in Europe. Due to this large number of comments, the ECSG decided to postpone the publication of the next Volume version (8.0) to 1 March 2017, instead of December 2016.
For more information about the ECSG, visit its website: http://www.e-csg.eu/
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