30 July 2014

EPC launches consultation on evolution of Sepa credit transfer and direct debit

19 May 2014  |  4339 views  |  0 SEPA Textured background

The European Payments Council (EPC) has launched a three month public consultation on possible changes to the Sepa credit transfer and direct debit rule-books.

The SCT and SDD rule-books set out the rules and standards that payment service providers have to follow when executing Sepa payment transactions.

Industry players who want to help shape the latest versions of the rulebooks have until 15 August to submit their suggestions, with publication set for this November and implementation for next November. Relevant documentation can be found on the EPC site.

Javier Santamaría, chair, EPC, says: "Proposed changes to the schemes that find broad acceptance in the entire stakeholder community and are technically and legally feasible are taken forward.

"Proposed changes that lack such broad support are not - regardless of whether such a change is proposed by a PSP or by a user representative. This ensures that the SCT and SDD Schemes evolve in line with the requirements of the majority of all market participants."

The evolution of SCT and SDD will be among the topics up for discussion at this year's EBAday, which will be held in Helsinki on the 10th and 11th of June.

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