20 February 2017
visit dh.com

European financial sector associations issue Sepa implementation guidance

07 September 2012  |  2774 views  |  0 Source: European Banking Federation

The European Banking Federation (EBF), the European Association of Cooperative Banks and the European Payments Council have published a guidance document to help their member-organisations and the broader market implement EU Regulation 260/2012 relating to the Single Euro Payments Area (SEPA).

With the first important step in the process of migration to a single payments area for retail Euro payments now set for 1 February 2014, the EBF Payments Regulatory Expert Group (PREG) developed this industry implementation guidance document with a view to providing clarity to the market on a range of practical questions related to the SEPA Regulation.

Endorsed also by VISA Europe, the SEPA Guidance document offers practical advice on key questions raised by the payments market and is designed to help payment service providers interpret and apply the Regulation, which stipulates mandatory deadlines for the introduction of SEPA Euro credit transfer and direct debit transactions.

Chair of the Expert Group, Ruth Wandhöfer (Citi), said: "We hope that the SEPA Guidance document will play a key role in helping to enable a consistent and efficient implementation of the Regulation across the Single Market and hence in ensuring that the significant benefits on offer if SEPA is implemented in a harmonised way can indeed be realised."

She added: "One of the critical factors for the Regulation's ultimate success in stimulating the achievement of an efficient and harmonised SEPA, will be the consistency with which payment service providers and their clients understand and implement the key requirements of the Regulation." 

Read the guidance:» Download the document now 1.7 mb (PDF File)

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.com Visit Yelloco.co.uk

Top topics

Most viewed Most shared
IBM and Visa join forces to turn billions of connected devices into points of saleIBM and Visa join forces to turn billions...
14788 views 11 comments | 50 tweets | 84 linkedin
Nesta launches £5 million Open API challengeNesta launches £5 million Open API ch...
10100 views comments | 21 tweets | 18 linkedin
Jaguar embeds payments into digital dashboardJaguar embeds payments into digital dashbo...
9606 views comments | 48 tweets | 56 linkedin
The fintech effect: Banks buy in to benefits of boosting financial well-beingThe fintech effect: Banks buy in to benefi...
8878 views comments | 15 tweets | 11 linkedin
Kevin the bot uses blockchain to offer insurance for P2P transactionsKevin the bot uses blockchain to offer ins...
7699 views comments | 16 tweets | 12 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job