ABBL

This edition focuses on the Commission services’ Working Paper “SEPA Migration End-Date” published in June 2010. The paper outlines a forthcoming proposal for a Regulation or Directive establishing end dates for Compliance of euro payment schemes with “essential requirements”. Contrary to its misleading title, this paper reflects political pretence rather than a concept for regulatory action that would ensure migration to SEPA as requested by the European Parliament, the Ecofin and the European Central Bank. EU legislation based on the Commission services’ current considerations would derail the entire SEPA project and obliterate the benefits for bank customers associated with SEPA.

The authors of the article “SEPA in the Context of the Financial Crisis” conclude: the retail payments business proved to be resilient in the financial crisis; to further develop this business segment, commitment to SEPA is crucial.

This issue highlights the main conclusions reached at the second EPC Card Fraud Prevention Forum.

The PSD Expert Group published an addendum to its PSD Guidance Document offering more practical support for banks.

Recent Commission initiatives relevant to cash are analysed as to whether these incentivise the use of electronic payment instruments – a main objective of SEPA.

Whilst e-Invoicing is outside the scope of the EPC, there is a strong linkage between e-Invoicing and the SEPA programme: a further e-Invoicing progress report is therefore included here.

(Source: EPC)