The SPAA rulebook outlines essential features like Dynamic Recurring Payments (DRP) - Europe’s version of Variable Recurring Payments (VRP). DRP enhances user convenience by enabling one-click checkouts and streamlined subscription services,ultimately improving customer experience. The SPAA scheme is designed to fairly distribute value and risk among stakeholders, encouraging collaboration among banks, fintech companies, and other industry players.
Giorgio Andreoli, Director General of the EPC, emphasises that SPAA transforms the landscape of Open Banking from a purely compliance-focused model to one that offers significant revenue potential. By leveraging existing infrastructures established under PSD2 and instant payment frameworks, ASPSPs can transition from compliance-driven costs to monetisable opportunities. As the regulatory landscape continues to evolve, SPAA positions itself as a critical component in the European Open Banking ecosystem.
Looking ahead, the SPAA scheme aims to attract more participants, while aligning with directives like PSR. With its focus on innovation and market adoption, SPAA is set to drive the future of payments across Europe, supported by active engagement from both established financial institutions and emerging market players.
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About Giorgio Andreoli
About the European Payments Council
The European Payments Council, an international not-for-profit association, representing payment service providers, supports and promotes European payments integration and development, notably the Single Euro Payments Area. The primary task of the EPC is to manage the SEPA (Instant) Credit Transfer, SEPA Direct Debit, SEPA Proxy Lookup, SEPA Request-to-Pay, SEPA Payment Account Access and other schemes in close dialogue with all stakeholders.
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