111 results
Insight

30 October 12

EPC Plenary Meeting Update

Approval of the next version of the SEPA Credit Transfer and SEPA Direct Debit Rulebooks and associated implementation guidelines for publication in November 2012; these updated versions will take effect on 1 February 2014 The Plenary approved the SEPA Credit Transfer (SCT) Rulebook version 7.0,...

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Insight

29 October 12

Time is of the Essence: Get Ready for SEPA. Act Now!

This EPC video (released in March 2012) highlights key aspects relevant for business and public entities transitioning to SEPA. The film is also available in an extended version (eight minutes) and with subtitles in the EU languages. See 'The EPC Migration Tool Kit' below. Early movers...

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Insight

29 October 12

EMV Goes Global: The End of an Era for the Magnetic Stripe Payment Card

EMV®1 technology is gaining traction worldwide. This is good news for Europe and other regions that have invested in and adopted this card payment framework. EMV is a global standard for credit and debit payment cards based on secure chip card technology. The SEPA Cards Framework (SCF) developed...

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Insight

29 October 12

SEPA Migration: Facts, Figures and Best Practice

European Union Regulation sets deadline for migration to the Single Euro Payments Area On 30 March 2012, the 'Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009', was published in the...

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Insight

24 October 12

SEPA Migration: Facts and Figures

Percentage of banks in SEPA offering SEPA Credit Transfer services The European Payments Council (EPC) launched the SEPA Credit Transfer (SCT) Scheme in January 2008. As of January 2012, 4,521 payment service providers (PSPs) in 32 countries offer SCT services. Today, the PSPs delivering SCT services...

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Insight

24 October 12

SEPA Migration: Facts and Figures

Percentage of banks in SEPA offering SEPA Credit Transfer services The European Payments Council (EPC) launched the SEPA Credit Transfer (SCT) Scheme in January 2008. As of October 2011, 4,503 payment service providers (PSPs) in 32 countries offer SCT services. Today, the PSPs delivering SCT services...

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Insight

24 October 12

SEPA Regulation: Last Call to Legislators

The SEPA Regulation should set one end date for migration to all Union-wide schemes The European Payments Council (EPC) advocates setting one end date at European Union (EU) level for migration to harmonised credit transfer and direct debit schemes to spare bank customers, such as businesses and...

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Insight

24 October 12

SEPA Direct Debit for Billers: the SDD Core Scheme Timelines

The SEPA Direct Debit (SDD) Schemes in a nutshell The SDD Core and the SDD Business to Business (SDD B2B) Schemes developed by the European Payments Council (EPC) - like any other direct debit schemes - are based on the following concept: 'I request money from someone else, and, with his prior approval,...

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Insight

24 October 12

Facing the Facts in July 2011

Percentage of banks in SEPA offering SEPA Credit Transfer services The European Payments Council (EPC) launched the SEPA Credit Transfer Scheme (SCT) in January 2008. As of July 2011, nearly 4,500 banks in 32 countries offered SCT services for euro payments. Today, the payment service providers...

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Insight

24 October 12

The Art of Integration

Improving the operations of public administrations in Finland Created in 2010, the Finnish Government Shared Services Centre for Finance and Human Resources (HR) merges the activities of four separate shared service centres that previously existed to support individual ministries of the central...

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Insight

24 October 12

SEPA Direct Debit for Billers: the Creditor Identifier (Go Get It!)

The SEPA Direct Debit (SDD) Schemes in a nutshell The SEPA Core Direct Debit Scheme (SDD Core) and the SEPA Business to Business Direct Debit (SDD B2B) Scheme developed by the European Payments Council (EPC) - like any other direct debit schemes - are based on the following concept: 'I request money...

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Insight

24 October 12

EPC Plenary Meeting Update

The European Payments Council's position on Article 6 (interchange fees for direct debit transactions) of the European Commission's proposal for a SEPA Regulation On 16 December 2010, the European Commission (the commission) published a proposal for a Regulation establishing technical requirements...

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Insight

24 October 12

Facing the Facts in April 2011

Percentage of banks in SEPA offering SEPA Credit Transfer services The European Payments Council (EPC) launched the SEPA Credit Transfer (SCT) Scheme in January 2008. As of April 2011, nearly 4500 banks in 32 countries offered SCT services for euro payments. Today, the payment service providers...

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Insight

24 October 12

The SEPA Regulation - A Progress Report

A brief overview of the EU legislative process This section is of interest in particular to readers who are not familiar with the European Union (EU) legislative process. The forthcoming Single Euro Payments Area (SEPA) Regulation will be adopted in accordance with this process. It is the privilege...

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Insight

24 October 12

The Trailblazer

Managing social security benefits in Finland Kela, the Social Insurance Institution of Finland, disburses payments to the majority of the Finnish population. The institution manages more than one hundred different types of benefits and compensation schemes. The annual value of benefits and compensations...

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Insight

24 October 12

SEPA Direct Debit for Billers: The SDD Mandate

The SEPA Direct Debit Schemes in a nutshell The SEPA Core Direct Debit Scheme (SDD Core) and the SEPA Business to Business Direct Debit (SDD B2B) Scheme developed by the European Payments Council (EPC) - like any other direct debit scheme - are based on the following concept: 'I request money from...

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Insight

24 October 12

Facing the Facts in January 2011

Percentage of banks in SEPA offering SEPA Credit Transfer services The European Payments Council (EPC) launched the SEPA Credit Transfer Scheme (SCT) in January 2008. As of January 2011, nearly 4500 banks in 32 countries offer SCT services for euro payments. The payment service providers offering...

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Insight

22 October 12

The Breakthrough for SEPA?

Setting deadlines for migration to the Single Euro Payments Area (SEPA) through EU Regulation provides planning security to all market participants On 16 December 2010, the European Commission published a proposal for a Regulation establishing technical requirements for credit transfers and direct...

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Insight

22 October 12

Best of Class: the Netherlands

Approach of the Dutch public sector The Dutch State Treasury Agency, part of the Ministry of Finance, is responsible for the procurement and coordination of payment services for the whole of the Dutch Central Government. In 2008, when the payment services for the central government (excluding those...

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Insight

22 October 12

How to Migrate to SEPA

The natural environment of Belgium: a small country with a highly concentrated banking sector There are a number of factors facilitating SEPA migration in Belgium. To begin with, although there are around 100 banks in the country, four take around 80 percent of the payment industry market share....

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Insight

22 October 12

The Shortcut to SEPA: Who Is Who and Who Does What

New: SEPA Direct Debit for Consumers - a convenient and secure way to make payments The EPC publication 'SEPA Direct Debit for Consumers' (a link is included below) focuses on the SEPA Core Direct Debit Scheme (SDD Core) which serves as an easy-to-use and secure payment method, allowing bank customers...

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Insight

22 October 12

Facing up to the IT Challenge

The SEPA challenge for IT When planning the implementation of SEPA-related functionality and technicalities in core payment systems it needs to be kept in mind that technical implementation is often a process which takes several years to realise. Such processes are also greatly influenced by other...

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Insight

22 October 12

Facing the Facts in October 2010

Percentage of banks in SEPA offering SEPA Credit Transfer services As of October 2010, nearly 4500 banks in 32 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payment service providers offering SCT services today represent more than 95 per cent of payment volumes in Europe....

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Insight

22 October 12

Searching for Enlightenment?

Demystifying ISO 20022 The ISO 20022 standard1 lies at the heart of SEPA. The EPC rulebooks that describe the flows of data between SEPA participants mandate the use of ISO 20022 for messages exchanged by financial institutions. They also recommend that the standard be used in the customer-to-bank...

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Insight

22 October 12

The Global Data Highway

ISO 20022 is the right way forward for standardisation in the financial industry The ISO 200221 approach to standard setting is the answer to today's customer needs. ISO 20022 is not only a suite of message standards but a recipe proposed by ISO to develop message standards for all domains of the...

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Insight

22 October 12

The Quantum Leap for SEPA Direct Debit

Article 8 of Regulation (EC) No 924/2009 establishes mandatory reachability for cross-border direct debits for all banks in the euro area 1 November 2010 marks an important target date for the roll-out of SDD services by banks. Over the past twelve months, since the launch of the SDD Schemes in...

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Insight

22 October 12

Facing the Facts in July 2010

Percentage of banks in SEPA offering SEPA Credit Transfer services As of July 2010, nearly 4500 banks in 32 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payment services providers offering SCT services today represent more than 95 percent of payment volumes in Europe....

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Insight

22 October 12

Don’t get lost in Translation

To make SEPA a success, the public sector must engage The public sector is a prime economic actor and is responsible for as much as 50 per cent of the GDP in the euro area and accounts for up to 20 per cent or more of electronic payments made in society. Moving this volume of payments made by public...

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Insight

22 October 12

Facing the Facts in April 2010

Percentage of banks in SEPA offering SEPA Credit Transfer services As of April 2010, nearly 4500 banks in 32 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payment services providers offering SCT services today represent roughly 95 percent of payment volumes in Europe....

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Insight

22 October 12

The Art of communicating SEPA

Who communicates what to whom? In December 2009, the Economic and Financial Affairs Council comprising the Economics and Finance Ministers of the EU Member States (ECOFIN) stated in its conclusions on SEPA that: "extensive communication efforts by service providers, when marketing SEPA products,...

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Insight

22 October 12

The EPC Shortcut Series: continued

Shortcut to the SEPA Cards Framework The aim of creating a SEPA for Cards is to facilitate a consistent customer experience when making or accepting payments with cards. The SEPA Cards Framework (SCF) developed by the EPC outlines high level principles and rules that when implemented by banks and...

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Insight

22 October 12

SEPA Survey 2009: Corporate Readiness on the Rise

Corporates are getting ready to engage Since the Deloitte SEPA Survey 2008 a lot has happened. The contours of a harmonised payment landscape throughout Europe are starting to take shape. By November 2009, nearly all countries in the European Economic Area (EEA) have transposed the Payment Services...

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Insight

22 October 12

New EPC Publications now online

The most popular Misunderstandings about SEPA - clarified If you believe that the EU Payment Services Directive (PSD) is a "SEPA-Directive"; if you think that using or offering the SEPA Direct Debit is "really complicated" or if you are under the impression that SEPA payment instruments are used...

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Insight

22 October 12

New EPC Publications available

Making SEPA a Reality - the definitive Guide to the Single Euro Payments Area The introduction of the Single Euro Payments Area is the most ambitious project ever undertaken in European payments history. In practice, this means that an entirely new framework of EU-wide applicable payment schemes...

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Insight

22 October 12

Creating smart SEPA Solutions

SEPA for IT Providers The SEPA roll-out forces suppliers as well as users of payment services to re-consider strategies: decisions need to be made whether to refrain from any action unless compliance requirements dictate otherwise; whether to outsource all or selected payment processes and / or...

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Insight

29 August 12

SEPA Migration: Facts and Figures

European Union Regulation sets deadline for migration to SEPA Credit Transfer and SEPA Direct Debit On 30 March 2012, the 'Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro and amending Regulation (EC) No 924/2009' was published...

Read more