The Euro Retail Payments Board ( ) met for the fourth time on 26 November 2015. It is a high-level body chaired by the European Central Bank, bringing together the supply and the demand side of the industry to address strategic retail payments issues. Its recommendations are significant for the payment industry and all stakeholders.
Javier Santamaría, Chair of the European Payments Council ( ), highlights in this Blog the most important issues considered during the meeting, and the next steps that the will accomplish to support the ’s objectives.
The major topic debated during the meeting was the proposal for the design of an instant credit transfer scheme ( ), for which the publication of a Rulebook is targeted for November 2016.
Mobile and card-based contactless proximity payments are another topic of interest for the . The members agreed to endorse a vision for this kind of payments. To materialise this vision, the made various recommendations to payment and card stakeholders (including to the Cards Stakeholders Group, of which the is a member), as well as to the European Commission.
Finally, the decided to take a step-by-step approach to harmonise e-invoicing solutions related to retail payments. The next step is the preparation of a report drawing a picture of e-invoicing payment services in the Single Euro Payments Area ( ), and of the barriers to take-up and harmonisation, including outlining the reasons why previous harmonisation attempts failed.
To delve deeper into the outcome of the last meeting, read this Blog by Javier Santamaría.
If you would like to comment on this article, please identify yourself with your first and last name. Your name will appear next to your comment. Email addresses will not be published. Please note that by accessing or contributing to the discussion you agree to abide by the EPC website conditions of use.