As part of the EPC’s regular change management cycle the Single Euro Payments Area (SEPA) Credit Transfer (SCT), the SEPA Instant Credit Transfer (SCT Inst), the SEPA Direct Debit Core (SDD Core) and the SDD Business-to-Business (SDD B2B) schemes, and in line with its commitment to stakeholders’ involvement, the European Payments Council (EPC) launches today the public consultation on possible modifications to these schemes.
All stakeholders are invited to have their say on these change requests from 12 March to 9 June 2020. This public consultation is held to ensure that the SEPA payment schemes reflect the evolution of the needs of PSPs and their customers, as well as technological changes.
An earlier call for change requests to amend the rulebooks – the technical and business rules governing the schemes and followed by their participants – ended at the end of December 2019. The EPC has registered 48 change requests from various banking and stakeholder communities, including from the EPC itself. All are included in the public consultation. A significant number of change requests specifically relate to the SCT Inst and SCT rulebooks. Read more about it in the newly published EPC Press Release and in the detailed public consultation documents.
How to participate in the public consultation?
Stakeholders wishing to comment on the change requests can fill in the response templates (available for each scheme in ‘related documents’) and send them to [email protected], until 9 June 2020 at 17h00 CET at the latest. Feedback received after this specific date and time will not be considered.
What will happen after the public consultation?
Change requests that find broad acceptance in the overall payment community, and that are technically and legally feasible, will be taken forward. In order that the schemes evolve in line with the requirements of the majority of all market participants, the change requests lacking a broad support will not be retained.
In November 2020, the EPC will publish the updated rulebooks and implementation guidelines that will enter into force one year later. This will ensure enough time is left for scheme participants to implement the necessary changes in their systems.
Your reactions
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 Email addresses will not be published.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.