The European Payments Council also released the documents required for submitting to ISO 20022 a request to standardise servicing messages to complete the standardisation layer of a pan-European EIPP eco-system. These documents (Business Justification and Message Definition Report) are now published for a 2-month public consultation.
The EIPP has been on the agenda of the Euro Retail Payments Board since 2016 when it was concluded that EIPP is an important opportunity for the retail payments industry and when a first report was released focusing on the identification of barriers preventing EIPP adoption. A second stage of work followed with the delivery of business requirements for EIPP and proposals for a step-by-step way forward on the path to the achievement of a pan-European EIPP eco-system.
In 2019, the EIPP MSG has been working on developing technical standards for the servicing messages on the basis of the design delivered in 2018 and seeks to submit a necessary request to ISO 20022 by October 2019. This request is presented in the form of the two documents that are proposed for public consultation.
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