The European Payments Council ( ), (which is not part of the European Union ( ) institutional framework), has frequently pointed out that the Single Euro Payments Area ( ) is an integration initiative pursued by the institutions. These are the European Commission, the European Parliament, the Council of the representing governments and the European Central Bank (ECB). The European Commission and the ECB, respectively, have established several dedicated bodies to facilitate the dialogue on the process with market participants representing various stakeholder groups.
On 19 December 2013 the ECB announced the launch of the Euro Retail Payments Board ( ), which helps foster “the development of an integrated, innovative and competitive market for retail payments in euro in the ”. The ’s work consists mainly of identifying strategic issues and work priorities (including business practices, requirements and standards) and ensuring they are addressed. Seven representatives from the demand side (e.g. consumers, retailers and corporations) and seven from the supply side (banks and payment and e-money institutions) sit on the Board. They are joined by five representatives from the euro area national central banks and one representative from the non-euro area national central banks (all on a rotating basis). The is chaired by the ECB. The European Commission is invited to join as an observer. The is a member of the .
The Blog published on 9 December 2014 (see ‘related links’ below) describes next steps agreed by the at its second meeting held on 1 December 2014 with regard to the following topics: Credit Transfer and Direct Debit post-migration issues; pan-European electronic mandate solutions and instant payments in euro. At the 1 December 2014 meeting, the members also agreed on the update of the work plan, including setting up a new working group focusing on person-to-person mobile payments as well as a new working group on mobile and card-based contactless proximity payments.
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