28 July 2017
download the report now

Euro Board to fix post-Sepa focus on mobile and 'innovative' payments

22 May 2014  |  8124 views  |  0 Sepa

The newly-convened Euro Retail Payments Board (ERPB) is to set up two working groups to explore the role of mobile and 'innovative' payments methods, as Europe begins the transition to a Single Euro Payments Area (Sepa).

The ERPB was set up by the European Central Bank in December last year, with a brief to oversee the integration of the bloc's retail payments market in a post-Sepa environment. The Board is composed of seven representatives from the demand side - such as consumers, retailers and corporations - and seven from the supply side - banks and payment and e-money institutions, in a bid to gain a broad consensus on future payment reforms..

At its first meeting this week, the ERPB agreed to immediately set up two working groups to address post-migration issues for the new Sepa credit and direct debit instruments, and the development of pan-European electronic mandate initiatives for Sepa direct debits. Draft mandates are also being prepared for future working groups on "mobile payments and innovative payments". The Board additionally agreed to carry out a stock-taking exercise on the implementation of payment cards standardisation and devise a plan on dealing with the practical implementation issues at its next meeting.

The Board noted that migration to the Sepa schemes was very close to completion in the credit transfer domain, but that there was still work to be done to ensure full and secure migration of direct debits "in a few countries" by the extended 1 August 2014 deadline.

The inaugural meeting was closed with a call for all stakeholders to complete their preparations and their migration to Sepa payment instruments "as early as possible and before the deadline".
KeywordsSEPA

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

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

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

19 May 2014  |  6873 views  |  0 comments | 3 tweets | 9 linkedin
ECB steps up Sepa for cards plans

ECB steps up Sepa for cards plans

29 April 2014  |  6658 views  |  0 comments | 7 tweets | 16 linkedin
European Parliament approves plans to extend Sepa migration deadline

European Parliament approves plans to extend Sepa migration deadline

04 February 2014  |  7157 views  |  0 comments | 11 tweets | 14 linkedin
Fresh stats show Sepa migration accelerating

Fresh stats show Sepa migration accelerating

20 January 2014  |  5973 views  |  0 comments | 13 tweets | 12 linkedin
European Commission wants to extend Sepa migration deadline as conversion rates stall

European Commission wants to extend Sepa migration deadline as conversion rates stall

09 January 2014  |  13388 views  |  3 comments | 19 tweets | 40 linkedin
European Central Bank sets up Euro Retail Payments Board

European Central Bank sets up Euro Retail Payments Board

19 December 2013  |  7723 views  |  0 comments | 7 tweets | 9 linkedin
ECB warns of risks from 'big bang' migration to Sepa

ECB warns of risks from 'big bang' migration to Sepa

24 October 2013  |  6984 views  |  0 comments | 7 tweets | 15 linkedin
Banks set out Sepa direct debit exception handling guidance

Banks set out Sepa direct debit exception handling guidance

17 September 2013  |  5879 views  |  0 comments | 4 tweets | 4 linkedin
EU to establish European Retail Payments Board to improve Sepa governance

EU to establish European Retail Payments Board to improve Sepa governance

26 June 2013  |  8369 views  |  0 comments | 14 tweets | 3 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit www.finastra.comvisit vasco.com/news/PSD2-compliant-solutions

Who is commenting?

Top topics

Most viewed Most shared
US firm to implant employees with RFID chipsUS firm to implant employees with RFID chi...
9531 views 16 comments | 33 tweets | 38 linkedin
hands typing furiouslyHow automation can help transform the fina...
8155 views 0 | 6 tweets | 2 linkedin
Industry task force sets out US path to faster paymentsIndustry task force sets out US path to fa...
7857 views comments | 5 tweets | 7 linkedin
Santander looks to smooth fintech integration with BiBoxSantander looks to smooth fintech integrat...
7351 views comments | 16 tweets | 15 linkedin
hands typing furiouslySWIFT Blockchain POC: enhanced cross-borde...
7046 views 1 | 4 tweets | 13 linkedin

Featured job


Brussels or Frankfurt

Find your next job