Central Banking

ECB unveils new Euro Retail Payments Board


The European Central Bank (ECB) today announced the creation of a Euro Retail Payments Board (ERPB) to drive further "innovation, competition and integration" in the market for retail payments.

The ECB has been working to "harmonise" retail payments denominated in euros for over a decade through the creation of a Single Euro Payments Area (Sepa). The first stage of the process will see eurozone member states migrate to new credit transfer and direct debit schemes by, at the latest, February 1, 2

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