EPC releases first SEPA RTP scheme rulebook

The ECP’s public consultation was complemented by in close collaboration with stakeholders from the entire payment value chain. The scheme covers the set of operating rules and technical elements (including messages) that allow a Payee to request the initiation of a payment from a Payer in a wide range of physical or online use cases. The scheme can be considered as a complement to the payment flow because it supports the end-to-end process and lies between an underlying commercial transaction and the payment itself. An RTP as such can be seen as an enabler for digital payments.

The effective date of the first release is set to 15 June 2021 and takes into account the need for an independent certification body - to be selected and become operational - for the certification of applicants to the SRTP scheme as described in the Trust and Security Framework Annex of the rulebook. The EPC is expected to launch a Request for Proposal for this purpose in February 2021. The scheme adherence process is planned to be opened in the first week of May 2021 to allow applicants to prepare their adherence application ahead of the effective date of the SRTP scheme. 

The second version of the SRTP scheme rulebook which will support more elaborate functionalities is envisaged to be published by the end of November 2021. As a first preparatory step, the EPC invites the market to submit its change requests in relation to the first release by 26 February 2021 close of business, as part of its structured and transparent change management process that is governed by the rulebook.

The implementation guidelines related to the first version of the scheme rulebook are scheduled to the be published by end-January 2021. It should be noted that eligible entities from all countries in SEPA shall be allowed to participate on the basis that the level playing field principle between payment service providers (PSPs) and non-PSPs is respected, according to the official ECP statement.