135 results
Insight

30 July 15

An Update on Changes to the New Payment Services Directive (PSD2)

A similar structure, a much broader scope The new Payment Services Directive (PSD2) retains the same basic structure as the original Payment Services Directive (PSD1). PSD2 is divided into six titles, each of which focuses on a different subject-matter. Accordingly, title I covers scope and definitions,...

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Insight

30 July 15

MyBank: Update on e-authorisation Solutions

The need for account-based access tools The payments industry is undergoing a period of accelerating change and innovation. Some of these changes are being mandated by regulators. Others are coming from new technological developments such as the rise of apps, mobile devices, 24/7/365 services and...

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Insight

30 July 15

A Corporate View of Instant Payments

The European Association of Corporate Treasurers (EACT) supports a competitive and integrated European payments market and has for many years been an active participant in the development of Single Euro Payments Area (SEPA) payments. In particular, we have welcomed the goal of creating a set of pan-European...

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Insight

30 July 15

Progress Towards a Single Digital Market in the EU

To trade in Europe, digital businesses still have to deal with 28 sets of national contract laws, adding an estimated four - eight billion euros a year to their costs. Many of these are very small businesses, arguably the quiet powerhouses of the European economy. Research by the European Commission...

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Insight

28 July 15

Realising the European 'Payments Dream'

The online e-commerce market in Europe has undergone a period of immense growth in the past few decades. Of the nearly 820 million people who live in Europe, over 40 percent are e-shoppers. There are over an estimated 715,000 online businesses and nearly 2.5 million jobs which directly or indirectly...

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Insight

28 July 15

Who Does What In Payment Standards?

A Single Euro Payments Area (SEPA) Scheme is a set of rules, practices and (crucially) standards to achieve interoperability for the provision and operation of a SEPA payment instrument agreed at interbank level. It is no secret that standards play an important role in the SEPA payments schemes...

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Insight

28 July 15

The Year Ahead in Payments Standardisation

The role of EMVCo EMVCo is a global technical body owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa. By managing and evolving the EMV® Specifications and related testing processes, EMVCo facilitates the worldwide interoperability and acceptance of secure payment transactions,...

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Insight

28 July 15

Euro Retail Payments Board Meets for a Third Time

On 19 December 2013, the European Central Bank (ECB) announced the launch of the Euro Retail Payments Board (ERPB), to help foster “the development of an integrated, innovative and competitive market for retail payments in euro in the EU”. The ERPB’s work consists mainly of identifying strategic issues...

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News

09 July 15

EPC Blog: Update on outcomes following the Euro Retail Payments Board’s third meeting: Instant Payments in Euro, Person-to-Person Mobile Payments, Technical Standards Related to Payment Cards and E-invoicing Payment Issues

At the 29 June 2015 meeting, the ERPB members took note of the status of past ERPB recommendations and agreed next steps with regard to the following topics: instant payments in euro, person-to-person (P2P) mobile payments, technical standards related to payment cards and e-invoicing payment issues. Anthony...

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Insight

09 July 15

Update on outcomes following the Euro Retail Payments Board’s third meeting: Instant Payments in Euro, Person-to-Person Mobile Payments, Technical Standards Related to Payment Cards and E-invoicing Payment Issues

This blog describes next steps agreed by the Euro Retail Payments Board (ERPB), chaired by the European Central Bank (ECB), at its third meeting held on 29 June 2015 with regard to the following topics: instant payments in euro, person-to-person (P2P) mobile payments, technical standards related to payment...

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News

18 June 15

EPC Blog: PSD2: Almost final – a state of play

The European Commission (the Commission), which has the right of initiative to propose laws, published its proposal for the revised PSD2 on 24 July 2013. The draft legislation was then subject to review and adoption, respectively, by the EU co-legislators; the European Parliament and the Council of the...

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Insight

18 June 15

PSD2: Almost final – a state of play

The European Commission (the Commission), which has the right of initiative to propose laws, published its proposal for the revised PSD2 on 24 July 2013 (the formal title of this proposed legislative act is “Proposal for a Directive of the European Parliament and the Council [of the EU] on payment services...

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News

03 June 15

EPC publishes updated ‘Creditor Identifier Overview’. This paper is relevant to creditors and payment service providers (PSPs) using the SEPA Direct Debit Schemes.

On 3 June 2015, the European Payments Council (EPC) published the version 4.0 of the ‘Creditor Identifier Overview’ (see ‘related files’ below).  The objective of this document is to inform creditors about the need for a Creditor Identifier (CI) on SEPA Direct Debit (SDD) mandates and forthcoming...

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News

08 May 15

Extension of deadline to submit applications: EPC calls for candidates seeking appointment to the EPC Scheme End-User Forum or the EPC Scheme Technical Forum. Applications are invited by 15 May 2015.

On 17 April 2015, the European Payments Council (EPC) launched a call for candidates, inviting interested organisations to apply for participation in the EPC Scheme End-User Forum and the EPC Scheme Technical Forum, respectively, by 8 May 2015. In response to feedback received from interested organisations,...

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News

29 April 15

EPC publishes an updated version of the document ‘Guidance on Reason Codes for SEPA Direct Debit R-transactions’. This technical document is addressed to payment service providers participating in the SEPA Direct Debit Schemes.

Following publication of the first version in July 2014, the European Payments Council (EPC) released the updated version 2.0 of the document ‘Guidance on Reason Codes for SEPA Direct Debit R-transactions’ (see ‘related files’ below) on 5 May 2015. To give some background: one of the main...

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Insight

28 April 15

Ripple: an Internet Protocol for Inter-bank Payments

Today’s payment infrastructures were not designed for a global economy As members of the European Payments Council (EPC) are well aware, upgrading a payment system is a complex and monumental task. This explains why even some of the largest economies (e.g. USA) continue to rely on an infrastructure...

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Insight

28 April 15

Instant Payments – a Winning Bet?

A ‘history’ of instant payments There has been much debate in the payments industry and among public authorities on the case for ‘faster’, now ‘instant’ payments. Users expect a seamless payment experience, public authorities foster efficiency, providers strive to maintain profitability while meeting...

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Insight

28 April 15

European Payments Council 2.0 Is Now Operational: Stakeholders Are Invited to Stay Engaged in the Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes Going Forward

The adjusted European Payments Council (EPC) governance model is described in the revised EPC Charter published on 10 February 2015 As previously reported (see ‘related articles in previous issues’ below), with the main phase of the migration to harmonised Single Euro Payments Area (SEPA) payment...

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Insight

09 April 15

EU Payments Legislative Package: Strong Concerns of European Banks

Background: the European Union legislative process leading to adoption of the revised Payment Services Directive and the new Regulation on Interchange Fees, respectively The European Commission has the right of initiative to propose laws for adoption by the European Union (EU) co-legislators. These...

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