10 February 2015

European Payments Council 2.0

The EPC resolved in October 2014 to adapt its structure to further enhance governance and stakeholder involvement. In December 2014, the EPC approved its revised Charter which has now become effective and was published in February 2015. The revised Charter reflects the new EPC governance model.

This EPC Blog reiterates key features of the new EPC governance model relevant, in particular, to the management of the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes going forward.

The EPC points out that the adjustments to its governance model are of an evolutionary rather than a revolutionary nature. They contribute to ensuring that the EPC meets its purpose, which is to support and promote European payments integration and development, notably SEPA. The primary objective of this evolution is to ensure that the EPC continues to be best equipped to perform its main task, i.e. to manage the SCT and SDD Schemes, in an efficient and transparent manner.

The EPC is committed to contributing to safe, reliable, efficient, convenient, economically balanced and sustainable payments, which meet the needs of payment service users and support the goals of competitiveness and innovation in an integrated European economy. Considering that the European Union (EU) authorities driving the SEPA process have clarified that migration to harmonised SEPA payment schemes does not conclude this EU integration project, the adjusted EPC structure will also facilitate developing positions on behalf of EPC members, representing payment service providers (PSPs), vis-à-vis the EU institutions, public authorities, international organisations, and the general public on European payment issues as well as on policies, legislation and regulations impacting payments. EPC membership is open to any eligible PSP or association representing PSPs.

Full blog

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