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EPC launches public consultation on change requests for the SEPA Credit Transfer

Monday 16 March 2020 08:45 CET | News

The European Payments Council has launched a public consultation on possible modifications to the SEPA Credit Transfer and SEPA Direct Debit schemes.

This public consultation is held to ensure that the payment schemes reflect the evolution of the needs of and their customers, as well as technological changes. All stakeholders are invited to have their say on these change requests from 12 March to 9 June 2020.

An earlier call for change requests to amend the rulebooks – the technical and business rules governing the schemes and followed by their participants – ended at the end of December 2019. The consultation has registered 48 change requests from various banking and stakeholder communities, including from the itself.

Change requests that find broad acceptance in the overall payment community, and that are technically and legally feasible, will be taken forward. In order that the schemes evolve in line with the requirements of many of all market participants, the change requests lacking a broad support will not be retained.

In November 2020, the EPC will publish the updated rulebooks and implementation guidelines that will enter into force in 2021. This will ensure enough time is left for scheme participants to implement the necessary changes in their systems.


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Keywords: European Payments Council, SEPA Credit Transfer, SEPA Direct Debit, Europe, payments
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech