Document library

17 results
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 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 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 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 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

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

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

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

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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