Single Euro Payments Area (Sepa)
ECB designates four 'systemic' payments systems subject to new regulatory standards
European Central Bank identifies four payment systems as systemically important, which will now be governed by stricter oversight standards that entered into force last week
Opinion: Sepa opens borders for European money
ECB’s director-general of market infrastructure and payments reflects on the successful creation of the single euro payments area, its beneficial impacts and the payment cards challenge to come
ECB turns attention to single card payments area
Card payments are lagging credit transfers and direct debits when it comes to harmonisation across the eurozone; ECB calls for "considerable efforts" to rectify this
Europe card fraud up after five-year decline, ECB data show
Growth in online shopping blamed for increase in card payments fraud, which totalled €1.33 billion within the Single Euro Payments Area in 2012 - up 21% on the previous year
Sepa obstacles have 'not evaporated completely’, warns Finland paper
Bank of Finland researcher finds the advent of the Single Euro Payments Area has not removed all of the barriers to ‘a true domestic products and services market’
Banque de France official: Sepa delays incur 'collective cost'
Denis Beau says the market participants that missed the February 1 deadline for migration to the new credit transfer and direct debit schemes should switch as soon as possible
ECB demands ‘fast adoption’ of Sepa legislation
European Commission proposal to extend the deadline for Sepa migration by six months has caused ‘confusion’ in the markets, according to the ECB
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