297 results
Insight

29 November 13

SEPA Fact Check: the Rationale for SEPA as Defined by the EU Governments, the European Parliament, the European Commission and the European Central Bank Driving the SEPA Programme and Determining the SEPA Compliance Requirements

(Note: the European Payments Council is not part of the EU institutional framework.) To appreciate the views of the European and national public authorities on the Single Euro Payments Area (SEPA) it must be recalled that SEPA is a European Union (EU) payment integration initiative pursued...

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Insight

31 October 13

SEPA 2014 - the European Central Bank Reiterates: “Everybody Has to be Ready on 1 February 2014 or Risk Disruptions in Their Individual Handling of Payment Orders.”

European Central Bank (ECB) reiterates: there is no alternative to complying with the legal requirements “I have said this before and will repeat it: everybody has to be ready on 1 February 2014 or risk disruptions in their individual handling of payment orders,” said Benoît Cœuré, member...

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Insight

30 October 13

EPC Plenary Meeting Update

  Outcome of the SEPA Council meeting of 23 September 2013 The Plenary addressed the outcome of the SEPA Council meeting that took place on 23 September 2013. The SEPA Council, which brings together representatives of both the demand and supply sides of the payments market, including the EPC,...

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Insight

30 October 13

ISO 20022 is the New Language of Payments! The Standards Forum Launched the 'ISO 20022 Adoption mApp' Featuring Information on More than 60 ISO 20022 Initiatives Globally

  How to use the 'ISO 20022 Adoption mApp' The new ‘ISO 20022 Adoption mApp’ was developed by the Standards Forum. The Forum is organised by SWIFT (Society for Worldwide Interbank Financial Telecommunication) Standards with the support of financial institutions, leading standardisers, market...

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Insight

25 October 13

EPC and Cards Stakeholders Group Launch Public Consultation on Security Requirements for Remote Payments – All Interested Parties are Invited to Provide Feedback by 4 August 2013

On 3 June 2013, the EPC together with the Cards Stakeholders Group (CSG) published version 6.5 of the Single Euro Payments Area (SEPA) Cards Standardisation Volume for a six-week public consultation (see links below). In addition, on 8 July 2013 the EPC together with the CSG issued a document on security...

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Insight

25 October 13

Talking about SEPA to Small Businesses? Food for Thought for Public Authorities, Banks and Other Service Providers: “Keep it Simple,” Says the Owner of Dance and Gymnastics School Girlfriends (45 Direct Debit Collections per Month)

From 1 February 2014 onwards, organisations making payments in the euro area will have to carry out credit transfer and direct debit transactions in line with the core provisions set out in the European Union (EU) ‘Regulation (EU) No 260/2012’, establishing technical and business requirements for credit...

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Insight

25 October 13

Conclusions Agreed at Multi-Stakeholder Workshop to Discuss Minimum Requirements for 'BIC from IBAN Derivation' Solutions for Cross-Border SEPA Transactions. European Law Mandates Transition to the 'IBAN only' SEPA Environment by February 2016

In the Summer of 2013, the European Payments Council (EPC) reached out to all stakeholders via the EPC Newsletter (see ‘related links’ below) and other EPC communication platforms to indicate whether there would be interest to initiate a dialogue on the minimum requirements for cross-border ‘Business...

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Insight

25 October 13

On the Difference between Innovation and the Wild West: How to Ensure the Security of Bank Customers’ Funds and Data with Payment Account Access Services

On 24 July 2013 the European Commission (the Commission) published a ‘payments legislative package’ (see link below), which includes the Commission proposal for a revised Payment Services Directive (PSD2). According to the related Commission press release, “the review of the European Union (EU) payments...

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Insight

25 October 13

Next Generation SEPA Credit Transfer and SEPA Direct Debit Rulebooks Will be Published in November 2014 to Take Effect in November 2015. EPC Invites Suggestions for Changes by 28 February 2014

The EPC launched the SEPA Credit Transfer (SCT) Scheme in January 2008 and the SEPA Direct Debit (SDD) Core and SDD Business to Business (B2B) Schemes in November 2009. The Single Euro Payments Area (SEPA) payment schemes, as set out in the SCT and SDD Rulebooks, evolve based on a transparent change...

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Insight

25 October 13

ISO 20022 is the New Language of Payments! The Standards Forum Launched the 'ISO 20022 Adoption mApp' Featuring Information on More than 60 ISO 20022 Initiatives Globally

As a key stakeholder in ISO 20022 and a long-term advocate of the standard’s ability to transform automation in the financial industry, SWIFT (Society for Worldwide Interbank Financial Telecommunication) has worked to raise awareness of the purpose and potential of ISO 20022 for some time. In September...

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Insight

25 October 13

1 February 2014 SEPA Migration Deadline – Council of the European Union (EU) Representing EU Member States Confirms: Provisions of Regulation (EU) 260/2012 “Have to Be Fully Respected by All Market Participants in Euro Area Member States”

The Council of the European Union (EU) represents the 27 EU Member States (see link below). The Council of the EU is a single body, but for reasons relating to the organisation of its work, it meets – according to the subject being discussed – in different ‘configurations’, which are attended by the...

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Insight

25 October 13

EPC and Cards Stakeholders Group Release Version 6.5 of the SEPA Cards Standardisation Volume for Public Consultation – All Interested Parties are Invited to Provide Feedback by 14 July 2013

On 3 June 2013, the EPC together with the Cards Stakeholders Group (CSG) published version 6.5 of the Single Euro Payments Area (SEPA) Cards Standardisation Volume for a six-week public consultation. This document defines a standard set of requirements to ensure an interoperable and scalable card and...

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Insight

25 October 13

E-invoicing – a Transition that Will Truly Complement SEPA

At the end of June 2012, the European Council, which includes the heads of state or government of the European Union (EU) Member States, stated: "Swift progress is required to achieve a well-functioning Digital Single Market by 2015, which will provide new dynamism to the European economy. In particular,...

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Insight

25 October 13

What Drives Innovation in Payments? Conclusions of the Report ‘Innovations in Retail Payments’ published by the Committee on Payment and Settlement Systems’ Working Group

43624362In order to obtain an overview of payments innovation globally, the Committee on Payment and Settlement Systems (CPSS), established the Working Group on Innovations in Retail Payments (the Working Group), which recently published the report ‘Innovations in Retail Payments' (see ‘related links'...

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Insight

25 October 13

There is Only Plan A: Get Ready for SEPA in the Next Twelve Months in the Euro Area! Latest Data Shows Good Progress in the Corporate Sector Now Preparing for the 1.2.2014 Deadline

Are you excited yet? After more than a decade of the Single Euro Payments Area (SEPA) in the making, this most ambitious European Union (EU) integration project in the area of electronic euro payments will become a reality in the next twelve months. As reported on many previous occasions: the ‘Regulation...

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