60 results
Insight

09 December 11

Beyond the Hype: Making Mobile Payments Work

A challenging market The mobile payments (m-payments) market can be divided into two clear areas of activity: remote m-payments, where two parties are able to send and receive or exchange funds using the mobile channel, irrespective of where they are located; and contactless m-payments, where the...

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Insight

21 November 11

Brave New World: the European Commission Becomes the SEPA Scheme Manager

Dear SEPA stakeholders: please send requests regarding the SEPA Rulebooks to the European Commission, Rue de la Loi 200, 1049 Brussels, Belgium, copy EPC In response to the requests of European authorities articulated since the late 1990s, the European Payments Council (EPC), in close dialogue with...

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Insight

10 November 11

Improving the Bottom Line

Integration of systems for electronic data delivery generates cost benefits The International Organization for Standardization (ISO) is a global organisation of national standards bodies. ISO 20022, the universal financial industry message scheme, aims to give the financial industry...

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Insight

10 November 11

Take Payments to the next Level

The ISO 20022 message standards in the SEPA context In the world of payments processing, the role of the data format used to exchange information between the parties involved in a payment transaction can be compared to the role of language in communication between people. Today, dozens of different...

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Insight

31 October 11

SEPA Governance: Setting the Record Straight

On specks and logs (or white elephants and red herrings) Those of you who follow the 'Fringe Observations on SEPA' in the EPC Newsletter are aware that in this section, guidance is regularly sought from the ancients in an attempt to make sense out of the many peculiarities inherent to the politics...

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Insight

28 October 11

Payment Services Directive Delayed Onset: Getting Ready for 'D + 1'

Working towards compliance As reported in the 'Legal and Regulatory Issues' sections of the EPC Newsletter, there are currently a host of regulatory initiatives in the pipeline, which will affect banks and other businesses providing payment services. One important change which will take effect shortly...

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Insight

28 October 11

Paper Invoice - Thy Days are Numbered

E-Invoicing continues its rapid European and global market adoption Latest data presented in September 2011 at the EXXP Summit, which highlights developments in the areas of electronic invoicing (e-invoicing) and electronic billing (e-billing), demonstrates that e-invoicing in Europe is now rapidly...

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Insight

28 October 11

EPC Plenary Meeting Update

EPC press release commenting on the European Commission's antitrust investigation into the EPC's standardisation process for payments over the internet The European Payments Council (EPC) Plenary agreed to publish a press release commenting on the European Commission's antitrust investigation into...

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Insight

27 October 11

ISO 20022 Message Standards: Too Many Flavours?

Concerning the differences between two-wheelers and the need for multi-lane highways A bicycle path is only meant for bicycles. That seems obvious enough - the clue is in the name. What happens however if one day someone drives along the path on a motorbike? Nobody really cares enough to try to...

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Insight

26 September 11

Common Architecture for Mobile Payments

Creating practical solutions for SEPA mobile payments Given the proliferation of mobile phones and related service levels throughout the European Union (EU), the EPC recognises that the mobile channel is an ideal launch pad for SEPA payment instruments. Many consumers are already using mobile phones...

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Insight

26 September 11

Have Your Say

Advancing mobile contactless payments using near field communications Mobile phones have achieved full market penetration and rich service levels in most, if not all, European Union (EU) and European Economic Area (EEA) Member States, making the mobile channel ideal for leveraging and promoting...

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Insight

26 September 11

SEPA goes mobile

EPC and mobile network operators join forces In June 2008, the EPC and GSMA, the global trade association representing the Mobile Network Operator (MNO) community, launched a mutual project to support the further development of mobile banking services leveraging both the existing SEPA infrastructure...

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Insight

26 September 11

SEPA at your Fingertips

The EPC M-Channel Group The EPC M-Channel Group develops proposals that are ripe for further collaboration and standardisation with regard to the initiation and receipt of SEPA payments. The high level principles described by the group form the basis for creating the necessary standards and business...

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Insight

26 September 11

Joint Action

Fostering cross-industry cooperation in mobile marketplace A Memorandum of Understanding (MoU) has been agreed between EPC and GlobalPlatform to coordinate their work initiatives within the mobile contactless environment. By signing the MoU the two parties aim to promote the availability of interoperable...

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Insight

26 September 11

The linking Pin

Building a common architecture for mobile contactless payments The public consultation open to all interested market participants marks an important breakthrough in cross-industry cooperation between payment services providers and mobile network operators aimed at empowering over 500 million European...

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Insight

26 September 11

SEPA to go

Different stakeholders share a common expectation: mobile payments make life easier According to latest data available, the current penetration of mobile phones in the developed economies is 97 per cent. Many consumers are already using mobile phones for services beyond the traditional voice calls...

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Insight

26 September 11

Making the Connection

Way forward on remote payments Today's consumers require convenient and secure payment services that are easily available anytime, for example, through their mobile phone. Mobile financial services must be convenient to use whilst meeting standard security requirements. In light of these facts,...

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Insight

26 September 11

Nowhere to go but forward

The point of no return Ten years ago, SEPA was not a top priority for the European Union. Rather, it was a nice-to-have item, easy to spot out. Now it has become a necessity. At this point, with such huge investments in place, after so much bullying about and the SEPA Schemes in operation, it is...

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Insight

26 September 11

Why change? Why me? Why now?

Reluctance to change might result from the assessment that change is not necessary The supply side has invested considerable efforts including huge financial resources to realise the SEPA vision. The swift development and implementation of a single set of SEPA Payment Schemes by the banking industry,...

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Insight

26 September 11

An Epic Voyage: the SEPA Odyssey

Regulation 2560/2001: the Trojan horse Frequently, when we refer to a journey full of perils and adventures into the unknown, we call it an odyssey. Indeed SEPA is an epic voyage that deserves to be described as an odyssey. Homer's hero Odysseus reached Ithaca some ten years after he set off from...

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Insight

26 September 11

The Good, the Bad, the Ugly and a Knight in Shining Armour?

The bad and the ugly? The European Parliament's Resolution on SEPA of March 2010 states that "the SEPA decision-making process is currently at the discretion of the European Payments Council (EPC), where only banks take decisions on SEPA products neglecting end-users requests"1. I would like to...

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Insight

26 September 11

Innovacompegration (This is Not a Typo)

On innovation and okapis To try to understand European Union (EU) policy in the area of payments, it is necessary to get a grip on concepts such as integration, standardisation, competition and innovation, as these terms are often used when discussing the Single Euro Payments Area (SEPA). A clear...

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Insight

26 September 11

Direct Debit: Killing it Softly

The European direct debit debate: state of play While this exercise increasingly invokes the experience of Don Quixote1 fighting the windmills, efforts should be kept up in the hope that rhyme and reason might make a comeback in the debate on the appropriate direct debit model to be offered in the...

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Insight

23 August 11

The EPC Newsletter also Makes for a Nice Christmas Present

Issued every quarter, the EPC Newsletter is one of the most important tools to engage and communicate with a wide range of stakeholders. The EPC is interested in obtaining the opinion of its readers to ensure that the information being communicated is timely, useful and easy to understand.  The...

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Insight

19 August 11

Significant Growth in Cashless Payments in Europe

The continued dominant status of cash in Europe is despite sustained growth in the volume of cashless retail payments, which grew by 160% or a Compound Annual Growth Rate (CAGR) of 6.2% between 2000 and 2008, from 54 billion to 87 billion transactions. Of these, 78 billion retail cashless payments (90%)...

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Insight

18 July 11

Change is Inevitable...

The new principles for financial market infrastructures The Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements1, together with the Technical Committee of the International Organization of Securities Commissions (IOSCO)2, has issued a consultative report...

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Insight

18 July 11

Get Ready for More

Basel III: core components and implications affecting the payment sector As reported in January 2011 (see link under 'related articles in previous issues' below), the revised framework, referred to as Basel III, contains important provisions which will affect banks that provide access to payment...

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Insight

16 July 11

SEPA Scheme Change Management

Get involved! The SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes evolve based on a transparent change management process, which provides all stakeholders with the opportunity to introduce suggestions for changes to the Single European Payments Area (SEPA) Schemes. The principles...

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Insight

15 July 11

The Magnetic Stripe: Why it is Hard for Americans to Say Good-Bye

A brief history of the magnetic stripe credit card - and the American affection for it The European experience of EMV migration in the cards market seems to present a clear-cut case: less fraud, more account holder peace of mind, a step into the 21st century. So - what's not to love? Plenty say...

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Insight

15 July 11

Moving Into New Territory

Banking and payments technologies have evolved and consumers increasingly rely on trusted third parties to look after their money in non-banking contexts. Today, you can pay for things on your mobile phone and you can send money to other parts of the world without using a bank. You can buy a card which...

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Insight

15 July 11

Dare to be Bold: Electronic Legal Tender is an Option

Coherence of the political agendas between cash and other instruments is vital Until 20 May 2011, European citizens have the opportunity to submit to the European Commission their design for a coin to be issued at the end of the year to commemorate 'ten years of the euro in your pocket'. The winner...

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Insight

15 July 11

One Size Fits All

Managing the Single Euro Payments Area automated teller machine infrastructure: what does it take? The European Payments Council (EPC) continuously emphasises that in the long run, a shift from cash payments to electronic payments is a main objective of the Single Euro Payments Area (SEPA) initiative....

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Insight

15 July 11

What is Your View?

European Payments Council launches annual public consultation on SEPA Credit Transfer and SEPA Direct Debit Rulebooks The SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes evolve over time to reflect changes in market needs and updates in standards. The annual scheme change management...

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Insight

15 July 11

Light at the End of the (Harmonisation) Tunnel

A period of important achievements When reporting on the progress of the Single Euro Payments Area (SEPA) in 2010, it makes sense to start at the end of the year. On 16 December 2010, the European Commission (the Commission) adopted a proposal for a Regulation establishing technical requirements...

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Insight

15 July 11

A Closer Look at Innovation in Retail Payments

A closer look at innovation in retail payments  "One cannot be forever innovating. I want to create classics." (Coco Chanel) Innovation is currently one of the most discussed topics in the payments industry. Some believe that the current systems are 'dinosaurs', deeply rooted in the last century...

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Insight

14 July 11

SEPA Scheme Change Management 2011 - Call to Stakeholders

Get involved! The SCT and SDD Schemes evolve based on a transparent change management process providing all stakeholders with the opportunity to introduce suggestions for changes to the SEPA schemes. The principles governing the evolution of the SEPA Schemes are set out in section 3 of the SEPA...

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Insight

13 July 11

EPC Goes Social

        The latest news on the EPC and SEPA in real time In 2010 the European Payments Council (EPC) commissioned an independent online insight provider to undertake a survey on the EPC Newsletter. The activity aimed to identify how readers perceived the newsletter, its relevance to their...

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Insight

11 July 11

The King is Dead, Long Live the King

The key features of the repealed conventions Introduced in 2002 and 2003 respectively, the Convention for Cross-border Payments in Euros and the Interbank Charging Principles (ICP) Convention have historic significance as the first market conventions concerning pan-European payments in euros published...

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Insight

11 July 11

Reaping the Benefits of Electronic Invoicing for Europe

The political context of the European Commission Communication on e-invoicing The European Commission launched in March 2010 the Europe 2020 Strategy (see link below) to exit the financial crisis and prepare the EU economy for the challenges of the next decade. Europe 2020 sets out a vision to achieve...

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Insight

11 July 11

More Market Integration

Creating a market for the transportation of cash across borders will generate tangible benefits for all market participants Existing barriers to cross-border cash transportation prevent providers and users of these services from fully reaping the benefits and efficiency gains of a harmonised market....

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Insight

11 July 11

Happy New Year?

Banks and other payment service providers are taking cover from an avalanche of regulation following the financial crisis of 2008. The European authorities have launched dozens of legislative and regulatory initiatives, many of which affect the payments and cash management space, a selection of which...

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