Publication of a New Version of the SMIRs, Enhancing Transparency and ...

Publication of a New Version of the SMIRs, Enhancing Transparency and Stakeholder Involvement

26 February 16

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The European Payments Council ( ) publishes a new version of the Scheme Management Internal Rules (SMIRs), effective as of 1 April 2016.

The SMIRs contain descriptions of the internal organisation, structure, rules, and processes that make up the scheme management of the schemes.

A three-month public consultation on the SMIRs, organised during the last quarter of 2015, preceded the publication of this new version of the SMIRs. This new version of the SMIRs includes changes meant to enhance transparency and stakeholder involvement.

For instance, an individual or organisation that has submitted a change request can ask the to present its change request in further detail to the body in charge of the change management process for the schemes. Another evolution is the organisation of the change management process at a minimum every two years (instead of once a year). This will ensure greater scheme stability for the scheme participants and stakeholders.

As the SMIRs are included as an annex to the Credit Transfer and Direct Debit scheme rulebooks, the number version of the rulebooks change. They however remain stable from a functional and technical point of view (i.e. changes introduced into the updated version are of a purely administrative nature and have no operational impact whatsoever).

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