46 results
News

19 November 15

The 2015 EPC Scheme Rulebooks are Now Effective

The 2015 Single Euro Payments Area (SEPA) Direct Debit (SDD) and Credit Transfer (SCT) Rulebooks, which are the business rules of the EPC schemes, are now in effect. Rulebook versions 8.1 of SDD Core, 6.1 of SDD Business to Business (B2B), and 8.1 of SCT, were published in April 2015, in order...

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News

29 April 15

EPC publishes an updated version of the document ‘Guidance on Reason Codes for SEPA Direct Debit R-transactions’. This technical document is addressed to payment service providers participating in the SEPA Direct Debit Schemes.

Following publication of the first version in July 2014, the European Payments Council (EPC) released the updated version 2.0 of the document ‘Guidance on Reason Codes for SEPA Direct Debit R-transactions’ (see ‘related files’ below) on 5 May 2015. To give some background: one of the main...

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Insight

30 January 15

EPC Plenary Meeting Update

Approval of revised Charter The European Payments Council (EPC) approved its revised Charter which will be published once it takes effect in the first quarter of 2015 subject to procedures to be observed under Belgian law. The revised Charter reflects the new governance model of the EPC. As...

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News

27 March 15

EPC publishes amended ‘SEPA Scheme Management Internal Rules’ (SMIRs). The SEPA Credit Transfer and SEPA Direct Debit Rulebooks have been updated to include the new SMIRs. This update of the rulebooks has no operational impact whatsoever.

On 31 October 2014, the European Payments Council (EPC) launched a 90-day consultation on the draft revised Single Euro Payments Area (SEPA) Scheme Management Internal Rules. This document contains descriptions of the internal organisation, structure, rules, and processes that make up the scheme management...

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Insight

18 June 15

PSD2: Almost final – a state of play

The European Commission (the Commission), which has the right of initiative to propose laws, published its proposal for the revised PSD2 on 24 July 2013 (the formal title of this proposed legislative act is “Proposal for a Directive of the European Parliament and the Council [of the EU] on payment services...

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News

18 June 15

EPC Blog: PSD2: Almost final – a state of play

The European Commission (the Commission), which has the right of initiative to propose laws, published its proposal for the revised PSD2 on 24 July 2013. The draft legislation was then subject to review and adoption, respectively, by the EU co-legislators; the European Parliament and the Council of the...

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Insight

28 April 15

European Payments Council 2.0 Is Now Operational: Stakeholders Are Invited to Stay Engaged in the Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes Going Forward

The adjusted European Payments Council (EPC) governance model is described in the revised EPC Charter published on 10 February 2015 As previously reported (see ‘related articles in previous issues’ below), with the main phase of the migration to harmonised Single Euro Payments Area (SEPA) payment...

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Insight

30 July 15

MyBank: Update on e-authorisation Solutions

The need for account-based access tools The payments industry is undergoing a period of accelerating change and innovation. Some of these changes are being mandated by regulators. Others are coming from new technological developments such as the rise of apps, mobile devices, 24/7/365 services and...

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Insight

28 April 15

Ripple: an Internet Protocol for Inter-bank Payments

Today’s payment infrastructures were not designed for a global economy As members of the European Payments Council (EPC) are well aware, upgrading a payment system is a complex and monumental task. This explains why even some of the largest economies (e.g. USA) continue to rely on an infrastructure...

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Insight

28 April 15

Instant Payments – a Winning Bet?

A ‘history’ of instant payments There has been much debate in the payments industry and among public authorities on the case for ‘faster’, now ‘instant’ payments. Users expect a seamless payment experience, public authorities foster efficiency, providers strive to maintain profitability while meeting...

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Insight

28 October 15

The Impact of the Interchange Fee Regulation: a Card Scheme’s View

The Interchange Fee Regulation (IFR) is much more than a few articles capping interchange fees for debit and credit cards. The regulators have included a series of ‘business rules’ dealing with a variety of issues. The net effect of the IFR is a redistribution of revenues and costs which will have...

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Insight

28 July 15

Who Does What In Payment Standards?

A Single Euro Payments Area (SEPA) Scheme is a set of rules, practices and (crucially) standards to achieve interoperability for the provision and operation of a SEPA payment instrument agreed at interbank level. It is no secret that standards play an important role in the SEPA payments schemes...

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Insight

28 July 15

The Year Ahead in Payments Standardisation

The role of EMVCo EMVCo is a global technical body owned by American Express, Discover, JCB, MasterCard, UnionPay and Visa. By managing and evolving the EMV® Specifications and related testing processes, EMVCo facilitates the worldwide interoperability and acceptance of secure payment transactions,...

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Insight

09 April 15

EU Payments Legislative Package: Strong Concerns of European Banks

Background: the European Union legislative process leading to adoption of the revised Payment Services Directive and the new Regulation on Interchange Fees, respectively The European Commission has the right of initiative to propose laws for adoption by the European Union (EU) co-legislators. These...

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