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Tag archive: EPC

European Union Regulatory Initiatives Impacting the Security of Euro Payments: the 2015 Outlook

This is a guest bog post from Javier Santamaría, Chair of the European Payments Council (EPC). Regulatory action rolling out in 2015 will determine the foreseeable future with regard to the security of payments in Europe. The European Commission published its proposal for the revised Payment Services Directive (PSD2) on 24 July 2013. This draft […]

2014 was a year of change

If there is one word that would characterize the year 2014, then it would be ‘change’. The year was full of changes in the area of payments, banking and technology. The long-awaited offend-date for SEPA, innovations in the field of mobile payment and (still limited) acceptance of Bitcoin are the most important changes. Even though […]

Join the Debate on the Further Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes: Less Flexibility, More Harmonisation?

This is a guest bog post from Javier Santamaría, Chair of the European Payments Council (EPC) European Union (EU) integration rarely follows the fastest possible trajectory, but relies on incremental progress over time. More than 14 years of the Single Euro Payments Area (SEPA) in the making, based on several EU legislative interventions aimed at […]

Cards Standardisation Volume and SEPA Rulebooks receive small updates

Version 7.0 of the SEPA Cards Standardisation Volume is ready for market implementation. The European Payments Council (EPC) and the Cards Stakeholders Group (CSG) published the latest version last month. These new versions are the result of public consultation on version 6.5 in June 2013, where the CSG received more than 2,000 comments from market participants. According to the […]

E-mandates in the era of SEPA

E-commerce continues to grow and with the introduction of SEPA customers can buy and pay for products throughout the entire SEPA zone. The payment method for online shopping is Direct Debit, which is easy to use and cost-effective. Mandates for these direct debits have been widely used, but were limited to national payments. With the […]

The SEPA migration speeds up

While we are approaching the original SEPA deadline of February 1st, the transition is speeding up rapidly. At the end of December 2013, 74 per cent of credit transfers in the euro area were already SEPA-compliant, in November that was 64 per cent. Of all EU direct debits 41 per cent was SEPA-compliant, instead of […]

Principalities and microstates in the SEPA zone

The purpose of SEPA is to achieve the integration of the euro payment market. The SEPA vision was set by EU governments in the Lisbon Agenda (March 2000), which aims to make the EU more dynamic and competitive. The SEPA area currently consists of the 28 EU member states (including the 17 euro countries), four […]

Payment service users confirm: SEPA migration is manageable, feasible and beneficial

Javier Santamaría is the chairman of the European Payments Council (EPC), which supports and promotes the creation of the Single Euro Payments Area (SEPA). As requested by the EU authorities, the EPC developed, in close dialogue with the customer community, the SEPA Credit Transfer (SCT) and SEPA Direct Debit Schemes (SDD), which help to realize the integrated Euro payments market. Just […]

Red lights for Estonia and Germany SEPA migration

Results in the recently published qualitative SEPA indicators for the second quarter of 2013 report show several countries significantly struggling in SEPA migration. The European Central Bank examined various countries to assess SEPA progress by stakeholder groups on a country level. The corporate sector in Germany might not complete migration to SEPA Direct Debit (SDD) […]

Standardization: What does ISO 20022 mean?

The European payments area will be standardized; from February 1st 2014 on this will be known as SEPA. From this date on the current paying methods in 33 countries are not operational anymore. This means that the participating countries have a lot of catching up to do in transforming the current structures into SEPA structures; […]