Central Banking

ECB wants more clarity on Sepa for cards

The European Central Bank said Monday 20 November it has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in service quality.

In its report, the ECB warns that the Sepa Cards Framework (SCF) adopted by the bank-backed European Payments Council leaves too much room for interpretation concerning practical implementation.

"The Eurosystem is concerned that th

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