The ECB started a consultation on an oversight framework for Card Payments Systems that process Euro payments. The proposed framework applies to all CPSs providing card payment services, including debit and/or credit cards. It also covers cards debiting prepaid and dedicated accounts, such as “gift” cards, but e-money schemes are beyond its scope. The document defines the intended scope of such oversight and proposes requirements which, if observed, would contribute to the soundness of CPSs. The requirements emanate from a risk analysis conducted by the Eurosystem.
The framework is based on a “building block” and risk-based approach to ensure, in particular, that it is built on a sound knowledge of the functioning of the market for card payments and properly addresses the relevant risks to which card schemes are exposed.
Deadline for consultation is 2 August 2007.
Oversight framework
Press release
© Graham Bishop
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article