The Euro Retail Payments Board ( – a high-level body chaired by the European Central Bank and gathering the supply and demand sides of European retail payments) held its latest meeting on 29 November.
Several of the hottest payment topics of the moment were discussed at this meeting. The is one of the members, and directly involved in many of its recommendations. We share with you the highlights of the key decisions taken about the topics we are actively engaged in.
Next steps to achieve a pan-European integration of payment initiation services ()
One year ago, the decided to set-up a working group on (co-chaired by the ) to help achieve an effective and harmonised implementation. Neither the nor the European Banking Authority’s Regulatory Technical Standards on strong customer authentication specify in detail how will operate in the future. Yet is at the core of the objective of of opening up the access to customers’ accounts to third party payment service providers ().
After delivering an intermediary report in June, and in spite of diverging views and interests between account servicing payment service providers (), the working group provided its final report at the November ERPB meeting. It identifies and lists many -related issues (technical, operational and business related), recommends requirements where an agreement could be found (for example, the need for a common Application Programming Interface testing framework) or reflects diverging positions (e.g. the need for an Account Information Service licence to have access to some information for ) on which the European Commission provided clarifications. Further work will be needed for several complex matters. The working group will follow-up on some of its recommendations, notably about certificates standardisation, and will provide a report at the June 2018 meeting. In addition, the welcomed the Commission’s proposal to set up another multi-stakeholder group to support the evaluation of standardised specifications, aimed to ensure that meet the needs of all market participants and comply with and other relevant legislation, including on data protection.
If you are lost in the jargon, do not miss our infographic deciphering the directive and its complex vocabulary!
Final report of the working group on electronic invoice presentment and payment (EIPP) solutions
The most immediate, concrete outcome of the report will be the start of a multi-stakeholder initiative to harmonise the ‘request to pay’ and other EIPP-related messages. The , who was co-chairing this working group, agreed during the meeting to actively contribute to the achievement of this objective by coordinating this multi-stakeholder initiative.
Towards interoperable and pan-European mobile payments
The Mobile Proxy Forum progressed in its project to define a pan-European and interoperable solution to use mobile numbers as a proxy for IBAN. Following a successful Request for Information aiming at identifying interested providers who could propose a Standardised Proxy Lookup () service, a Request for Proposal will be launched in December. The objective is to select (a) technology providers which would launch the service in October 2018, at the latest.
All -related documents following the meeting are available online
Several other topics (update on the SEPA Instant Credit Transfer scheme implementation, ECSG-related topics on card and mobile payments, broader payment accessibility…) were also discussed at the meeting. All reports created for the meeting and a statement published by the ECB are available on the ECB website.
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