45 results
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 October 15

Regulation on Card Fees for EU-Wide Payments: a Processor’s View

Impact of the Regulation on processing Processors provide solutions that are compliant with the supported brands’ scheme rules and that answer their customers’ needs. The Interchange Fee Regulation (IFR) has an impact on processing, as it will need to adapt and support the fee models and associated...

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Insight

09 July 15

Update on outcomes following the Euro Retail Payments Board’s third meeting: Instant Payments in Euro, Person-to-Person Mobile Payments, Technical Standards Related to Payment Cards and E-invoicing Payment Issues

This blog describes next steps agreed by the Euro Retail Payments Board (ERPB), chaired by the European Central Bank (ECB), at its third meeting held on 29 June 2015 with regard to the following topics: instant payments in euro, person-to-person (P2P) mobile payments, technical standards related to payment...

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Insight

28 October 15

Competition Law Enforcement in the European Payments Industry

Over the last ten years, the payments industry has become a priority for competition enforcement agencies in the European Union (EU), not only at the level of the European Commission (the Commission), but also of the National Competition Authorities (NCAs), who have conducted numerous investigations....

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Insight

28 July 15

Euro Retail Payments Board Meets for a Third Time

On 19 December 2013, the European Central Bank (ECB) announced the launch of the Euro Retail Payments Board (ERPB), to help foster “the development of an integrated, innovative and competitive market for retail payments in euro in the EU”. The ERPB’s work consists mainly of identifying strategic issues...

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Insight

26 February 15

SEPA Compliance in the Euro Area: Get Ready for February 2016. Act Now

Article 6 (1) and (2) of the European Union (EU) ‘Regulation (EU) No 260/2012 establishing technical and business requirements for credit transfers and direct debits in euro’, also known as the Single Euro Payments Area (SEPA) Regulation, mandates that credit transfers and direct debits in the euro area...

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Insight

28 July 15

Realising the European 'Payments Dream'

The online e-commerce market in Europe has undergone a period of immense growth in the past few decades. Of the nearly 820 million people who live in Europe, over 40 percent are e-shoppers. There are over an estimated 715,000 online businesses and nearly 2.5 million jobs which directly or indirectly...

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Insight

30 July 15

A Corporate View of Instant Payments

The European Association of Corporate Treasurers (EACT) supports a competitive and integrated European payments market and has for many years been an active participant in the development of Single Euro Payments Area (SEPA) payments. In particular, we have welcomed the goal of creating a set of pan-European...

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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 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

30 July 15

Progress Towards a Single Digital Market in the EU

To trade in Europe, digital businesses still have to deal with 28 sets of national contract laws, adding an estimated four - eight billion euros a year to their costs. Many of these are very small businesses, arguably the quiet powerhouses of the European economy. Research by the European Commission...

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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

29 January 15

A New Global Initiative Driven by the Financial Stability Board and the G20: the Legal Entity Identifier (LEI) Empowers Market Participants to Mitigate Risks and Increase Operational Efficiencies

The legal entity identifier (LEI) The LEI is a 20-digit, alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization. It connects to key reference information that enables clear and unique identification of legal entities participating in global...

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