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22 September 20
Some 2020 change requests entering into force in November 2023
In September 2020, the EPC decided to migrate all its SEPA payment schemes to the 2019 version of the ISO 20022 message standard by 19 November 2023 i.e. the entry-into-force date of the 2023 EPC SEPA payment scheme rulebooks. This implementation combined with possibly new/amended business and/or functional...
09 September 20
EPI: towards a new European payment solution?
The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. In early July a group of major European banks announced the launch of the European Payments Initiative (EPI) with the aim of creating a unified payment solution for consumers...
23 July 20
Updated Intra-EU Mobility infographic
The Single Euro Payments Area Proxy Lookup (SPL) scheme covers the exchange of the data necessary to initiate payments between proxy-based mobile payment solutions on a pan-European level, aiming to facilitate interoperability between participating payment solutions. For those interested in joining...
22 July 20
Around the web – a compilation of some interesting reports about payments published last quarter
*The views expressed in the below reports are solely those of the authors and should not be attributed to the European Payments Council. During the second quarter of 2020, we gathered a list of recent and free reports that shine a spotlight on the future of payments, open banking and other interesting...
14 July 20
Brexit from 1 January 2021 onwards: get ready for the end of the transition period
On 7 March 2019, the EPC published its decision paper on Brexit and United Kingdom’s (UK) payment service providers’ (PSPs) participation in the EPC SEPA payment schemes, approving UK Finance's application for the continued participation of UK PSPs in the EPC SEPA payment schemes, even in the event of...
13 July 20
UK’s rollout of Confirmation of Payee
The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. After a few years in development, a new Confirmation of Payee (CoP) system was rolled out last month by UK banks. In short, the CoP enables consumers to see whether the...
01 July 20
SCT Inst transaction limit increased to 100,000 euros
As of today, the maximum amount per SEPA Instant Credit Transfer (SCT Inst) transaction went up from 15,000 to 100,000 euros. Payment end-users can use the SCT Inst scheme in higher-value business-to-business and business-to-consumer transactions. This new transaction limit means additional freedom...
10 June 20
SRTP scheme – facilitating a seamless way to pay within SEPA
On 2 June 2020, the EPC launched a three-month public consultation on the rulebook for the new SEPA Request-to-Pay (SRTP) scheme, which will provide a new way to request a payment initiation. We interviewed the ad-hoc RTP Task Force (RTP TF) chair Jean-Yves Jacquelin to shed some light on the future...
02 June 20
Public consultation on the SEPA Request-to-Pay Scheme Rulebook
The European Payments Council (EPC) launches today a 90-day public consultation on the draft rulebook it developed for its new SEPA Request-to-Pay (SRTP) scheme. The SRTP scheme, which is based on the RTP specifications document produced by the RTP Multi-Stakeholder Group (MSG RTP), covers the...
28 May 20
Public consultation on Technical Interoperability of MSCTs based on payer-presented data
The ad-hoc multi-stakeholder group on Mobile Initiated SEPA (Instant) Credit Transfers, (MSG MSCT), which is facilitated by the European Payments Council (EPC) has conducted through a newly established dedicated work-stream, a more detailed analysis of the technical interoperability of MSCTs based on...
28 May 20
Technical interoperability of MSCTs based on payee-presented data
Following the publication of the “Mobile Initiated Single Euro Payments Area (SEPA) (Instant) Credit Transfer Interoperability Guidance” (MSCT IG) document, the ad-hoc multi-stakeholder group on MSCTs has conducted, through a newly established dedicated work-stream, a more detailed analysis on the technical...
20 May 20
SCT Inst scheme gaining further traction in Europe
November 2017 marked a major event in an increasingly instant world: the launch of the Single Euro Payments Area (SEPA) Instant Credit Transfer (SCT Inst), which enables credit transfers in ten seconds – or less – across the SEPA. Two and a half years on, the scheme has grown significantly, and the European...
22 April 20
Around the web – a compilation of some interesting reports about payments published last quarter
The views expressed in the below reports are solely those of the authors and should not be attributed to the European Payments Council. During the first quarter of 2020, we gathered a list of recent and free reports that focus on artificial intelligence (AI), fraud and other interesting payment-related...
20 April 20
Results of the EPC poll on the average market share of cash at the POS by 2025 in the euro area
European Central Bank’s (ECB) survey1 results show that cash was on average* dominant at the point-of-sale (POS) in the overall euro area in 2016, i.e. 78.8% of purchases were paid using cash. The EPC invited professionals working in the payments industry to share their views on how the future of...
14 April 20
AFR – the Hungarian Retail Instant Payment System
The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. In order to improve the efficiency of domestic payments, Hungarian banks launched a local currency Instant Payment System (AFR) based on the SEPA Instant Credit Transfer...
09 April 20
New version of the Clarification Paper on SCT and SCT Inst
Today the European Payments Council (EPC) published the version 1.5 of the clarification paper on Single Euro Payments Area (SEPA) Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) rulebooks. The paper applies to the current applicable 2019 SCT and SCT Inst rulebooks and provides guidance...
01 April 20
The EPC updates its members’ list
The EPC now counts among its members one additional organisation: • PERSPECTEEV SAS (based in France) The EPC now represents 76 payment service providers and their associations. Two further organisations have the status of ‘associate member’.
18 March 20
Implementation of PSD2: a viewpoint from the EBA, the European Banking Authority
Disclaimer: The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. We close our series of interviews representing the views of various stakeholders on the implementation of the revised Payment Services Directive (PSD2) with...
12 March 20
The EPC launches the public consultation on the 2020 change requests for the SEPA Credit Transfer and SEPA Direct Debit Scheme Rulebooks
As part of the EPC’s regular change management cycle the Single Euro Payments Area (SEPA) Credit Transfer (SCT), the SEPA Instant Credit Transfer (SCT Inst), the SEPA Direct Debit Core (SDD Core) and the SDD Business-to-Business (SDD B2B) schemes, and in line with its commitment to stakeholders’ involvement,...
09 March 20
New version of the guidelines on cryptographic algorithms usage and key management
Today the EPC published a new version of the guidelines on cryptographic algorithms usage and key management in order to provide guidance to the European payments industry, more precisely to security officers, risk managers, system engineers and systems designers. Although its content does not assume...