The European Payments Council () has frequently pointed out that the Single Euro Payments Area () programme is a policy-maker-driven European Union (EU) initiative aimed at completing the Economic and Monetary Union and the integration of the internal market. The European authorities driving the process – the EU governments, the European Parliament, the European Commission and the European Central Bank – have clarified that migration to harmonised payment schemes and technical standards, as mandated by EU law, does not conclude the project. Consequently, further regulatory action intended to bring about ‘ 2.0’ is now in the pipeline.
The Blog published on 1 July 2014 (see ‘related links’ below) introduces a new poll launched to capture the views of payments audiences on which of the following initiatives will have the greatest impact on the European payments market going forward:
- European Commission proposal for a revised Payment Services Directive ().
- European Commission proposal for a new Regulation on interchange fees for card-based payment transactions.
- Work programme of the Euro Retail Payments Board, chaired by the European Central Bank.
- SecuRe Pay Forum recommendations for the security of internet payments; for the security of payment account access services; and for the security of mobile payments.
- Guidelines and technical standards issued by the European Banking Authority pursuant to the mandate provided by the proposed revised Payment Services Directive () (Articles 86, 87).
To cast your vote, visit the 1 July 2014 Blog. This blog also provides background information on the topics listed in the poll. The poll will be open until the end of September 2014. The results, (and latest developments with regard to the regulatory initiatives mentioned in the poll), will be presented in the October 2014 edition of the Newsletter.
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