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Today the EPC publishes updated rulebook versions for all its SEPA payment schemes: the SEPA Credit Transfer (SCT), SEPA Instant Credit Transfer (SCT Inst), SEPA Direct Debit Core (SDD Core) and SEPA Direct Debit Business-to-Business (SDD B2B) schemes. All updated 2017 rulebooks enter into force on...

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...

The Euro Retail Payments Board (ERPB – a high-level body chaired by the European Central Bank and gathering the supply and demand sides of European retail payments) held its latest meeting on 29 November. Several of the hottest payment topics of the moment were discussed at this meeting. The EPC...

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...

By Martin Merlin, Director, Directorate General for Financial Stability, Financial Services and Capital Markets Union, European Commission The views expressed in this blog are solely those of the author and should not be attributed to the European Payments Council. Financial services...

The European direct debit debate: state of play While this exercise increasingly invokes the experience of Don Quixote1 fighting the windmills, efforts should be kept up in the hope that rhyme and reason might make a comeback in the debate on the appropriate direct debit model to be offered in the...

The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. In July the Open Banking Implementation Entity released specifications for the ‘Read/Write’ payment initiation and account information Application Programming Interfaces...

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...

The views expressed in this article are solely those of the author and should not be attributed to the European Payments Council. The ability to offer instant payments has become a necessity for banks around the world as they keep up with customer expectations and set themselves up strategically...

The new principles for financial market infrastructures The Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements1, together with the Technical Committee of the International Organization of Securities Commissions (IOSCO)2, has issued a consultative report...

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...

Basel III: core components and implications affecting the payment sector As reported in January 2011 (see link under 'related articles in previous issues' below), the revised framework, referred to as Basel III, contains important provisions which will affect banks that provide access to payment...

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...

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...