Following our posts about SEPA (most recent in April 2011 ECB calls for Sepa deadline extension), we invite you to read more on this theme, freshly announced on Finextra: Banking representative body the European Payments Council (EPC) has released a set of guidelines for mobile contactless transactions in the Single Euro Payments Area (Sepa). The EPC says the guidelines aim to:
The document details the different service models and processes involved in operating a contactless payment application within a mobile phone secure element (SE), from provisioning to transaction flows, cardholder verification methods and risk management.
The guidelines are exclusive to mobile contactless payments using near field communications (NFC) technology. The EPC says it is also developing implementation proposals for mobile remote payments to be released at a later stage.
The Council is calling on the industry to provide feedback by 17 June, with the objective of publishing final recommendations by October this year. Read the news including the guidelines, on Finextra.
From: Finextra News: 07 June, 2010
The meeting brought together top-level representatives from
both the demand and supply sides of the European payments
Participants from the demand side
included consumers, retailers, businesses/corporates, small and
medium-sized companies, and national public administrations.
Supply side representation comes
from the European Payments Council (EPC), co-operative banks,
saving banks, commercial banks, and payment institutions.
In addition, four national central
bank board members represent the
The establishment of the new body follows strong criticism of the
Sepa governance structure and the lack of consultation with
end-users. At the EBAday meeting in Luxembourg, banks too expressed
their concerns about the expense of the project, its sluggish
returns and the failure of national governments to support the
Internal market commissioner Michel Barnier
describes the formation of the Council as "a crucial step forwards"
in the realisation of an integrated market for payments in euro.
"To achieve the full potential of Sepa, we clearly need to improve
user involvement in this project, both from early design to final
implementation," he says. "I very much hope that this new Council
will act as a catalyst to create a retail payment framework fully
meeting the expectations of all actors."The main issues discussed
at the first meeting were the need and conditions to establish
migration end-dates for Sepa and the future of a Sepa for payment