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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...

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...

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...

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...

  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,...

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...

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...

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...

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...

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...

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...