We are happy to announce TrueLayer as the first participant to the SEPA Payment Account Access (SPAA) scheme!
This marks a first important milestone for the scheme, which is open for scheme adherence since December 2023.
The SPAA scheme covers the set of rules, practices and standards that will allow the exchange of payment accounts related data and facilitates the initiation of payment transactions in the context of ‘value-added’ (‘premium’) API-based services provided by asset holders (i.e. Account-Servicing Payment Service Providers (ASPSPs)) to asset brokers (e.g. Third Party Providers (TPPs). The scheme describes a messaging functionality and is not a payment means or payment instrument.
The SPAA scheme has been developed collaboratively by retail payment industry (both supply and demand) as represented in the ERPB, with support of the relevant EU institutions. It aims to drive ‘open payments’ in the EU in a way that unlocks and creates value whilst allowing for a fair distribution of value and risk between scheme participants.
Interested in joining the SPAA scheme?
Find out more here about the scheme and here about how to become a participant.
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 Email addresses will not be published.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.