36 results
Insight

26 October 10

Update EPC Plenary Meetings

Version 3.2 of the SEPA Core Direct Debit Scheme Rulebook At its last meeting in December 2008, the Plenary approved the SEPA Core Direct Debit Scheme (SDD) Rulebook version 3.2. The SDD Rulebook now includes the e-mandate solution as an optional service to be offered by banks that will participate...

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Insight

29 April 10

November 2010: Mandatory Reachability for cross-border Direct Debits

Article 8 of Regulation (EC) No 924/2009 establishes mandatory reachability for cross-border direct debits Article 8 (1) of Regulation (EC) No 924/2009 (see link below) states that a "payment service provider of a payer reachable for a national direct debit transaction denominated in euro on the...

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Insight

26 October 10

The Preview

Rules on scheme access and scheme management must be synonymous in all three Rulebooks As described in the article "Think ahead: the SEPA Scheme Change Management Process" in this Newsletter, the SEPA Scheme Management Internal Rules annexed to all three Rulebooks prescribe a formal change management...

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Insight

19 July 10

SEPA Scheme Rulebooks: next Release

The evolution of the SEPA Schemes 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 SEPA Credit Transfer Scheme (SCT) and...

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Insight

26 October 10

Going global

The Benefits of the Creditor Reference The use of creditor references is common in most SEPA countries. Studies show that in excess of 95 per cent of all incoming flows have been automated based on country specific creditor references. These references allow for automatic reconciliation of receivables...

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Insight

26 May 10

SEPA Scheme Change Management 2010: Public Consultation

The evolution of the SEPA Schemes 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 SEPA Credit Transfer Scheme (SCT) and...

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Insight

29 April 10

Update EPC Plenary Meetings

Approval of the optional SEPA Fixed Amount Direct Debit Scheme Rulebook for public consultation The EPC Plenary approved release of the latest version of the SEPA Fixed Amount Direct Debit Scheme Rulebook (SDD FA) and Implementation Guidelines for public consultation; a link to the consultation...

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Insight

27 January 10

Update EPC Plenary Meetings

Way forward on publication of revised SEPA Scheme Rulebooks November 2009 releases Following approval by the EPC Plenary in October 2009, the three Rulebooks are updated to reflect changes regarding the SEPA Scheme Management Internal Rules and other legal aspects. These changes have no impact...

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Insight

19 March 10

Facing the Facts in October 2009

  Percentage of banks in SEPA offering SCT services  As of October 2009, nearly 4500 banks in 32 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payment service providers offering SCT services today represent roughly 95 percent of payment volume in Europe. Due to...

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Insight

19 March 10

Facing the Facts in January 2010

Percentage of banks in SEPA offering SEPA Credit Transfer services As of January 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 roughly 95 percent of payment volume in Europe....

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Insight

25 October 10

Update EPC Plenary Meetings

Approval of updated versions of the SEPA Credit Transfer Scheme (SCT) and SEPA Direct Debit Scheme (SDD) Rulebooks The EPC Plenary approved updated and enhanced versions of the SEPA Scheme Rulebooks and adjacent Implementation Guidelines for publication on 1 November 2010. The SCT and SDD Schemes...

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Insight

19 July 10

PSD: taking Action

Commission acts to ensure that EU Member States fully implement PSD In June 2010, the European Commission has taken action against six EU Member States to ensure full transposition of the PSD into their respective national law. Cyprus, Greece, Spain, Poland, Romania and Sweden received reasoned...

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Insight

19 March 10

Facing the Facts in July 2009

Percentage of banks in SEPA offering SCT services As of July 2009, more than 4500 banks in 32 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payments services providers offering SCT services today represent roughly 95 percent of payment volume in Europe. Percentage...

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Insight

29 January 10

Expectations are promising (and Patience is a Virtue)

Positive developments A crucial milestone has been achieved with the launch of the SDD Schemes on 2 November 2009. Previously, there was no scheme in place for direct debits in euro with cross-border reach. By 19 October 2009, over 2600 banks, representing around seventy per cent of SEPA payments...

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Insight

26 October 10

Financial Crisis

Five-fold return on investment I have yet to meet an informed person who does not see the need and potential of SEPA. Clearly, we need SEPA to complete euro monetary integration and to create an efficient payments market supporting the single market, which is one of the great European achievements....

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Insight

29 January 10

PSD in Practice

Update on PSD transposition According to the European Commission's most recent official update of 3 December 2009 supplemented by information from national banking communities, as of early January 2010 national PSD implementation has progressed as follows: 21 EU/EEA Member States have now completed...

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Insight

27 January 10

Better Business with SEPA Direct Debit

The benefits of the SEPA Direct Debit Schemes for the business customer "Although the migration to SEPA is a challenge for a large company like ours we do believe that the long term benefits of a harmonised payment market outweigh the short term efforts to get there".Marie-Astrid Dubois, Assistant...

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Insight

26 October 10

Tomorrow is another Day

Familiarity with SEPA is high, but readiness remains low This survey was sent to Chief Financial Officers (CFOs), finance managers, cash managers and treasurers of corporates and public administrations in euro countries representing 97% of transaction volume. In particular, the members of the European...

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Insight

26 October 10

Less is more: one Standard for Customer-to-Bank Communication

For an introduction to the concept of the SEPA Data Formats and the related SEPA Implementation Guidelines see the information provided in box below Consultations of bank customers carried out regularly to identify their SEPA requirements have revealed the pronounced need - voiced in particular...

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Insight

30 April 10

PSD in Practice: a Follow-Up

Update on PSD transposition According to latest information provided by the European Commission as well as by national banking communities, 24 EU/EEA Member States have now completed the process of bringing the PSD into force via national law. This remains outstanding in the following six countries: Estonia...

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Insight

01 November 10

Preparation for SEPA by Public Administrations in France

France's public administrations are currently working hard on the migration of national payment systems to SEPA. A large part of the significant progress achieved on the migration to date has stemmed from the existence of a steering group set up by the French government.  A special system to oversee...

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Insight

26 October 10

SEPA for Cards: From Vision to Reality

The principle governing the SEPA Cards Standardisation Programme In 2004, the European Central Bank expressed the expectation that in SEPA cardholders should be able to use any card at any terminal to pay for goods or services or withdraw cash under the same conditions as in their home country....

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Insight

19 March 10

Facing the Facts in April 2009

Percentage of banks in SEPA offering SCT services As of April 2009, nearly 4500 banks in 31 countries offer SEPA Credit Transfer (SCT) services for euro payments. The payments services providers offering SCT services today represent roughly 95 percent of payment volume in Europe. Percentage...

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Insight

29 January 10

Update EPC Plenary Meetings

SEPA Cards Framework version 2.1 and SEPA Cards Standardisation Volume - Book of Requirements version 4.0 The Plenary approved version 2.1 of the SEPA Cards Framework (SCF) for publication. The SCF version 2.0 was issued in March 2006 and since then there have been important developments that required...

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Insight

27 October 10

332 Votes for an End Date

Summary of the findings The European Payments Survey 20101 was completed by 322 people representing 42 nations during late summer of 2010. This year's survey was divided into four clear sections and the main findings were: Development of the Eurozone and European Union: 52 per cent thought...

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Insight

26 October 10

Bring the Prophet to the Mountain

Banks successfully implemented SEPA services The realisation of the Single Euro Payments Area (SEPA) as envisioned by policy-makers including EU governments, the European Commission, the ECOFIN and the Governing Council of the European Central Bank, is crucial to the completion of the internal market...

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Insight

28 January 10

Food for Thought

The objectives of the European Commission Expert Group At the end of 2009, the European Commission Expert Group on e-invoicing (EG) published its Final Report, which is now available for a consultation until 26 February 2010 (a link to the Report and the consultation document is set out below)....

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Insight

19 July 10

On SEPA and US Health Care Reform

US health care reform: a case study in political leadership to inspire EU lawmakers dealing with SEPA On 23 March 2010, the day President Obama signed into law the Patient Protection and Affordable Care Act (commonly referred to as US health care reform), the Pulitzer Prize winning editorialist...

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