EPC Blog: The EPC is in the Front Line for Achieving the ERPB’s Object...

EPC Blog: The EPC is in the Front Line for Achieving the ERPB’s Objectives that Stemmed from its November Meeting

02 December 15

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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.

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