Document library

32 results
Insight

05 November 09

Going all the Way

Harmonised use of bank-to-customer messages facilitates end-to-end processing of SEPA transactions Ultimately, the "outcome" of a payment transaction must be communicated by a bank to the customer. Such communication takes place, for example, vi a account statements informing bank customers...

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Insight

03 November 09

Yes we can - Part II

SEPA - the Belgian way In Belgium the internationalisation of payments has become part of the normal way of life given its location at the crossroads of Europe (at any location in Belgium you find yourself at a maximum 150 kilometres distance from the border to another country). Also, this country...

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Insight

03 November 09

The X Factor

SEPA history part I: EU governments request the integration of euro payment markets The EPC gladly clarifies the facts yet again: it is a prevalent misunderstanding that European authorities and EU governments merely “support” the SEPA initiative. These public authorities actually invented...

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Insight

02 November 09

SEPA Roadmap: how to make SEPA a Success

How to ensure that SEPA is delivered on time While the EPC has been successful in designing the necessary Rulebooks for SEPA Credit Transfers (SCT) and SEPA Direct Debits (SDD), migration to the new SCT is very slow. In July 2009, one and a half years after the launch of SCT, only 4.4% of all credit...

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Insight

30 October 09

Refunds and Returns revisited

The no-questions-asked refund right under the SEPA Core Direct Debit Scheme Question: The SDD Core Rulebook requires a no-questions-asked refund to be paid to a debtor (payer) within the 8-week period following a direct debit collection. However, articles 62-63 of the PSD mandate a refund right...

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Insight

30 October 09

Ready or not...

Update on PSD transposition Whilst, as stated above, up to 14 Member States might miss the 1 November 2009 deadline to transpose the provisions of the PSD into national law, the majority of these countries remain ambitious to complete transposition by the end of 2009 or early 2010 the latest. Sweden...

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Insight

30 October 09

Towards a SEPA migration end date?

A large majority of respondents in favour of setting end-date(s) to stimulate SEPA migration The results of the public consultation showed that a large majority of respondents support the idea of setting some end-dates to stimulate migration to SEPA credit transfers and direct debits. The SEPA project...

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Insight

30 October 09

Cashing out

A main objective of the Single Euro Cash Area (SECA): improved efficiency of wholesale cash distribution As reported previously in this Newsletter, it is necessary to reform the complex wholesale cash distribution and collection infrastructures needed to circulate euro bank notes and coins. The...

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Insight

30 September 09

Rock the Vote

The SEPA scheme change management process: open, transparent and inclusive Driving forward innovation in payments the EPC encourages all players acting in the payments market to actively contribute to the evolution of the SEPA schemes. The change management process governing the development of the...

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Insight

30 September 09

Early Adopters: move ahead

EPC Open Letter addresses period from 2 November 2009 through 1 November 2010 Agreement on the one-year grace-period regarding the reachability of branches operated by multi-country banks is an important initiative to encourage early take-up of the SEPA Direct Debit Schemes to the benefit of bank...

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Insight

30 September 09

Update EPC Plenary Meetings

Approval of the SEPA Business to Business Direct Debit Rulebook version 1.2 The EPC Plenary approved the SEPA B2B Direct Debit Scheme Rulebook version 1.2 and adjacent deliverables. Version 1.2 of this Rulebook now replaces Version 1.1 as the basis for first implementation for banks who are interested...

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Insight

30 September 09

It’s all Greek to You?

Creating a consistent customer experience The initial default solution to only use the Latin alphabet when making a SEPA payment aimed at reducing the complexities involved with the implementation of SEPA services across 32 countries. Whereas banks may agree bilaterally or multilaterally to accept...

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Insight

30 September 09

Yes, we can - Part I

Joint action by all stakeholders The fact that Luxemburg is a banking community comprising 15 to 20 financial institutions active in the business of retail payment services admittedly is of advantage when it comes to the coordination of major projects such as SEPA implementation. The compact Luxemburg...

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Insight

30 September 09

Home sweet Home or Global Village?

Basic trends underlying the scenario planning The purpose of the paper by Atos Consulting is to challenge an payment services provider's existing strategy designed to anticipate the future make-up of the payments market against the scenarios presented here. The following trends were identified...

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Insight

30 September 09

New Kids on the Block

Payment institutions in the context of the PSD and other financial legislation Payment Institutions (PIs) are defined by the PSD Article 4 (4) as follows: "'payment institution' means a legal person that has been granted authorisation in accordance with Article 10 to provide and execute payment...

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Insight

30 September 09

Get Involved!

The scope of the CSG SEPA for cards will be achieved to the greatest extent possible through the use of open and free standards, available to all parties within the card payment value chain. The primary objective of the CSG is to contribute to the maintenance and evolution of SEPA standards for...

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Insight

30 September 09

Light at the End of the Tunnel

The objectives of the PSD Expert Group The PSD EG comprises legal and payments experts drawn from across the member organisations of the European Credit Sector Associations together with representatives of the EPC and the international card schemes. The PSD EG focuses on the...

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Insight

30 September 09

Bring in the Fun!

This EPC publication brings in the fun: consumers can rely on one bank account and one payment card to make euro payments across 32 SEPA countries while enjoying highly competitive services provided by banks. In addition, SEPA drives forward technological innovation in payments empowering consumers to...

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Insight

30 September 09

Update EPC Plenary Meetings

Confirmation of November 2009 as the launch date for the SEPA Direct Debit Schemes The Plenary resolved to mandate the EPC Scheme Management Committee to start its task of approving the required SDD adherence agreements for the two SEPA Direct Debit Schemes by 1 May 2009 so as to enable banks to...

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Insight

30 September 09

A mixed Bag

Revised Regulation 2560/2001: impact on pricing and reachability Regulation 2560/2001 on cross-border payments in euro was adopted in December 2001. Its provisions prohibit banks to impose different charges for domestic and cross-border payments or ATM withdrawals in the EU-27. Regulation 2560/2001...

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Insight

30 September 09

PSD Implementation: six Months to go

Banks operating across several SEPA jurisdictions face regulatory uncertainties At this point in time, the UK and Bulgaria are the only countries to have adopted their final transposition texts, whilst at the other end of the spectrum Sweden recently announced that it will not have PSD legislation...

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Insight

30 September 09

Great Expectations

What is e-invoicing and why is it important? E-invoicing is the replacement of paper invoicing with invoice transmission, processing and storage in dematerialised form using electronic means. The major push towards e-invoicing has been led by la rge buyers (both major multinationals and...

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Insight

30 September 09

Public Administrations do not fully meet Expectations - yet

  If SEPA is to succeed, the public sector should be among the key players to make it happen Public administrations play a fundamental role in SEPA. As a key user group of electronic payments, public administrations initiate and receive millions of transactions every day. In the euro area,...

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