Single Euro payments area (Sepa)
European Commission pushes for Sepa deadline extension
Michel Barnier defies the Eurosystem by pushing for a six-month extension to the February 1 deadline for migration to the Single Euro Payments Area
ECB unveils new Euro Retail Payments Board
New board will be the driving force behind retail payments integration in Europe; will replace the Sepa council and take a more proactive approach than its predecessor
Cœuré concerned over 'big bang’ payments migration
ECB says many member states are planning to migrate to the Single Euro Payments Area in the last quarter of the year; Benoît Cœuré points to operational risks of leaving it to the last minute
ECB’s Cœuré laments slow payments progress
Benoît Cœuré says closer integration of payment systems in Europe would bring major benefits, but is being held back by limited efforts at standardisation; urges banks to innovate more
ECB to relax CCBM collateral deposit rules from May 2014
Benoît Cœuré says the rule change will pave the way for support of cross-border, tri-party collateral management services from September next year; warns Sepa deadline looks tight for many
Central banks behind curve on innovation, says World Payments Report
Central banks are struggling to keep up with rapid growth of innovative new payment systems, report warns; risk to European firms that regulation will cause mobile payments to fall behind
Ibos warns of payments disruption as Sepa deadline set to be missed
Banking association says 2014 Sepa migration target will be missed at current pace, which could see systems shut down and payments fail; harmonisation may be limited even when target met
German banks adopt Step2 for domestic payments
EBA Clearing reveals seven German banks will use the Step2 payments system to process and clear their domestic payments, converting in the second half of 2013
Bank of Estonia scraps new payments system
Plans for new interbank retail payments system are dropped due to a lack of popularity among commercial banks; hunt for a set-up compliant with Sepa requirements continues
ECB’s Cœuré highlights US and Europe payments division
Executive board member Benoît Cœuré says credit cards play a larger role in the US payments industry; identifies benefits of expanding European debit card usage
Sepa migration at risk due to poor preparedness, says ECB
First progress report expresses alarm at some companies planning to migrate very close to deadline; payments could be disrupted if deadline missed, but Benoît Cœuré says ‘there is no plan B’
Bank of Estonia eyes payments upgrade
Estonian central bank proposes new retail payments system that will meet incoming Sepa requirements; final selection requires approval of commercial banks
ECB’s Cœuré champions retail payments integration
Benoît Cœuré says the Single Euro Payments Area increases efficiency and lowers costs; wants governing council to have a ‘self-regulatory focus’
Netherlands not prepared for Iban, says central bank
Netherlands Bank assessment shows awareness of Iban is rising; but businesses are not taking necessary steps for switch
ECB reports decline in card fraud
First oversight report of card payment schemes in Sepa shows decline in fraud since 2007; lauds technological advances including chip and pin use for increasing the security of transactions
Estonia begins Sepa migration work
Estonian Payment Environment Forum holds meeting; attendees affirm commitment to ensuring a smooth transition to Sepa-compliant payments and settlements in Estonia
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
EPC outlines new models for mobile payments
European Payments Council requests feedback on new model for contactless and remote mobile payments in Europe; focuses on the preferred type of secure-elements technology used in mobile phones
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Interview: Gerard Hartsink
European Payments Council chairman Gerard Hartsink tells Yusuf Yassin he welcomes the decision to set end-dates for Sepa migration, but says concerns about the regulation, raised in October, remain
ECB report urges progress on Sepa card payments migration
European Central Bank study says considerable effort is still needed to achieve an integrated European market for card payments
Netherlands Bank warns of Sepa information gap
Dutch central bank to launch communication campaign to aid consumers with limited knowledge about the European payments project
Sepa migration deadline pencilled in for 2014
European Union says migration end-dates for credit transfers and direct debit to Single Euro Payments Area will be February 2014
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region