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Topic: Payment services

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EBA opinion on obstacles to the provision of third party provider services under the PSD2

On 4 June 2020, the European Banking Authority (EBA) issued an opinion on the obstacles to the provision of third party provider services (TPPs) under the regulatory technical standards (RTS) on strong customer authentication (SCA) and common and secure communication (CSC). Article 32(3) of the RTS on SCA and CSC requires account servicing payment service … Continue Reading

T2-T2S consolidation: FAQs on migration, testing and readiness

On 28 May 2020, the European Central Bank (ECB) published FAQs for TARGET2 (T2) participants (banks and ancillary systems) providing them with information regarding the T2-T2S consolidation project.  In particular, the FAQs provide such participants with information on the overall migration strategy and the key project milestones, as well as details on service providers, connectivity, … Continue Reading

EBF guidance document on the revised Cross-Border Payments Regulation

On 13 May 2020, the European Banking Federation (EBF) published a guidance document on the revised Cross-Border Payments Regulation. The purpose of the document is to help EBF members in their implementation of the Regulation, in particular with regard to the new obligations related to transparency requirements for currency conversions for card-based payments and credit … Continue Reading

EBA updates guidelines on fraud reporting under PSD2

On 22 January 2020, the European Banking Authority (EBA) published amendments to its 2018 guidelines on fraud reporting under the revised Payment Services Directive (PSD2). Article 96(6) of PSD2 requires all payment service providers to report statistical data on fraud relating to different means of payment to their national competent authorities and that such competent … Continue Reading

Payments industry agrees new SEPA card standards

On 15 January 2020, the European Cards Stakeholders Group (ECSG), the industry association overseeing cards standardisation in the Single Euro Payments Area, has published version 9.0 of the SEPA Cards Standardisation Volume (the SCS Volume). Version 9.0 of the SCS Volume takes effect immediately for a three year period. In version 9 of the SCS … Continue Reading

EPC SEPA payment scheme rulebooks enter into force

On 18 November 2019, the European Payments Council (EPC) announced the entry into force of the following 2019 Single Euro Payments Area (SEPA) payment scheme rulebooks: Credit transfer rulebook (SCT) Instant credit transfer rulebook (SCT Inst) Direct debit core rulebook (SDD) Direct Debit business-to-business rulebook (SDD B2B) All of the rulebooks entered into force on … Continue Reading
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