Just a Click away***

Just a Click away***

A progress report on the SEPA e-Payment Framework now out for consultation

05 July 12

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The e-Payments Framework: state of play

Based on the principles outlined above the has developed a Service Description and a High-Level Definition of the e-Operating Model. These two documents capture the concept of the envisaged e-Payment Framework.

The Service Description is the primary source for getting access and being compliant to the Framework, it defines the rules of the Framework as well as the obligations and responsibilities of the participating parties (banks offering Credit Transfer services and e-payments schemes). In addition, the Service Description avails relevant information to support development and operational activities by banks, e-payments schemes and technology suppliers.

The High-Level Definition of the e-Operating Model provides a broad description of the general requirements governing the e-Payment Framework including the roles of the participating parties, message flows and the data model to be used when processing related transactions.

Banks are invited to provide feedback by end August 2009

banking communities are currently being consulted on the Service Description as well as the High-Level Definition of the e-Operating Model. Banks are encouraged to provide feedback to the by 28 August 2009. The documents pertaining to the consultation on the e-Payment Framework are made available by the Secretariat upon request (e-mail to secretariat@europeanpaymentscouncil.eu).

Next steps

Taking into consideration the input received during the ongoing consultation of the banking community the e-Payment Framework will be updated and submitted for public consultation in the fall of 2009 providing an opportunity for all stakeholders to comment on the proposed solution. In addition, the Framework will be complemented by a detailed specification as well as ISO 20022 message standards and ISO 20022 Implementation Guidelines for e-Payments. It is envisaged that the Framework will be submitted for approval by the Plenary by end 2009. Going forward, making online payments in real time that are immediately guaranteed to merchants located anywhere in will take no more than a click (or maybe two or three).

John Holsberg is the Chair of the E-Channel Task Force.

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