On 31 October 2014, the European Payments Council () launched a 90-day consultation on the draft revised Single Euro Payments Area () Scheme Management Internal Rules. This document contains descriptions of the internal organisation, structure, rules, and processes that make up the scheme management of the Credit Transfer () and Direct Debit (SDD) Schemes. Such processes cover administration and compliance, and change management, including structured dialogue with stakeholders. For an overview of applicable principles, refer to the Website page ‘ Scheme Management’ (see ‘related links’ below).
The approved the amended Scheme Management Internal Rules on 4 March 2015. In accordance with the established publication schedule, the released the amended Scheme Management Internal Rules (see ‘EPC207-14 SMIRs v1.0 Approved - March 2015’ included in the ‘related files’ below) on 3 April 2015, i.e. 30 days following approval.
The amended Scheme Management Internal Rules reflect the adapted governance and funding structure
As previously reported, with the main phase of the migration to harmonised payment schemes in the euro area complete, the resolved to adapt its governance model. For more information, refer to the Blog, entitled ‘European Payments Council 2.0: the has adapted its structure to further enhance governance and stakeholder involvement’ (see ‘related links’ below).
The adjustments to the 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 SDD Schemes, in an efficient and transparent manner. The amended Scheme Management Internal Rules have been updated to reflect the new governance structure.
The amended Scheme Management Internal Rules also detail changes to the funding structure. These changes only impact scheme participants, i.e. payment service providers that have formally adhered to the and SDD Schemes. Related principles are set out in section 7 (‘Scheme Management Cost Allocation’) of the new Scheme Management Internal Rules.
The remains an international not-for-profit association which makes all of its deliverables, including the Scheme Rulebooks and adjacent documentation, available to download free of charge on the Website.
The and SDD Rulebooks have been updated to include the amended Scheme Management Internal Rules; changes introduced into the updated rulebook versions are of a purely administrative nature and have no operational impact whatsoever
The Scheme Management Internal Rules are an integral part of the and SDD Rulebooks. Consequently, the rulebook versions currently in effect as well as the rulebook versions to take effect in November 2015 and November 2016, respectively, have been updated to include the amended Scheme Management Internal Rules.
Amendments to the Scheme Management Internal Rules are of a purely administrative nature and have no operational impact whatsoever. The updated rulebook versions therefore, remain unchanged from a functional or technical point of view compared to the previous versions.
The rulebook versions currently in effect and the rulebook versions to take effect in November 2015 and November 2016, respectively, updated to include the amended Scheme Management Internal Rules, are:
- The rulebooks currently in effect are the Rulebook version 7.2, Rulebook version 7.2 and SDD Business to Business (B2B) Rulebook version 5.2. These rulebook versions remain in effect until November 2015.
- The Rulebook version 8.1, Rulebook version 8.1 and Rulebook version 6.1 will take effect on 22 November 2015. The Rulebook version 8.1 will remain in effect until November 2017. The Rulebook version 8.1 and Rulebook version 6.1 will remain in effect until November 2016.
- The Rulebook version 9.1 and Rulebook version 7.1 will take effect on 20 November 2016 and remain in effect until November 2017.
These rulebook versions can be downloaded following the ‘related links’ below.
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