EPC Newsletter – the Next Generation Edition: it offers a preview of u...

EPC Newsletter – the Next Generation Edition: it offers a preview of upcoming developments that will shape the SEPA process going forward.

29 October 14

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Asking whether the Single Euro Payments Area () has been accomplished, Joanna Wright of Fundtech recently observed in gtnews: “The introduction and expansion of the internet, social media, mobile communications and smart phones, and new payment providers (…) have all changed the way consumers, corporates and banks conduct business. ’s mission needs to reflect this today, and change continues into the future.” For more market feedback on possible next steps, refer to the article ‘ Migration (Euro Area) Round Up: the Transition has been a Success Throughout the Region’ in the latest edition of the Newsletter (see ‘related links’ below).

On that note, this edition of the Newsletter addresses, among others, the following topics:

With migration to harmonised payment schemes in the euro area complete, the European Payments Council () resolved to adapt its current structure to further enhance governance and stakeholder involvement. Chair Javier Santamaría introduces the new governance model.

The European Commission will continue to play a principal role in the process going forward. We take a closer look at President Juncker’s vision for the European Union (EU) internal market and Economic and Monetary Union.

According to the Commission’s ‘Digital Agenda for Europe’, eID and electronic trust services are central building blocks of the digital single market. Our commentator provides an overview of the key provisions included with the new ‘Regulation on electronic identification and trust services for electronic transactions in the internal market’, and reflects on its possible effects for the European payments industry.

The authors of the article ‘Tensions in Cyberspace: Competing Priorities and Legislative Initiatives in the Online Payments World’ discuss the interaction of key pieces of payments legislation that were recently adopted or are now in the pipeline, including the proposed revised Payment Services Directive (). They consider, in particular, aspects relevant to the security of online payments.

The European Court of Justice has recently ruled that interchange fees are permitted if they provide benefits to merchants. Concluding the regulatory round up, our guest contributor analyses the implications of the Court’s decision for interchange fees in Europe.

Last but not least, we provide an overview of the modifications to the next generations Credit Transfer and Direct Debit Rulebooks.


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