EPC Blog: European Payments Council 2.0 – the EPC has adapted its stru...

EPC Blog: European Payments Council 2.0 – the EPC has adapted its structure to further enhance governance and stakeholder involvement.

09 February 15

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As previously reported, with the main phase of the migration to harmonised Single Euro Payments Area ( ) payment schemes in the euro area complete, the European Payments Council ( ) resolved in October 2014 to adapt its structure to further enhance governance and stakeholder involvement. In December 2014, the approved its revised Charter which has now become effective and was published in February 2015. The revised Charter reflects the new governance model.

The Blog published on 10 February 2015 (see ‘related links’ below) reiterates key features of the new governance model relevant, in particular, to the management of the Credit Transfer ( ) and Direct Debit ( ) Schemes going forward.

The points out that the adjustments to its governance model are of an evolutionary rather than a revolutionary nature. They contribute to ensuring that the meets its purpose, which is to support and promote European payments integration and development, notably . The primary objective of this evolution is to ensure that the continues to be best equipped to perform its main task, i.e. to manage the and Schemes, in an efficient and transparent manner.

The is committed to contributing to safe, reliable, efficient, convenient, economically balanced and sustainable payments, which meet the needs of payment service users and support the goals of competitiveness and innovation in an integrated European economy. Considering that the European Union ( ) authorities driving the process have clarified that migration to harmonised payment schemes does not conclude this integration project, the adjusted structure will also facilitate developing positions on behalf of members, representing payment service providers ( ), vis-à-vis the institutions, public authorities, international organisations, and the general public on European payment issues as well as on policies, legislation and regulations impacting payments. membership is open to any eligible or association representing .

The remains an international not-for-profit association established under, and governed by, Belgian law which makes all of its deliverables, including the Scheme Rulebooks and adjacent documentation, available to download free of charge on the Website.

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