Tuesday 10th February, 2015

As the main phase to harmonise the migration of Single Euro Payments Area (SEPA) payment schemes in the euro area neared completion last year, the European Payments Council (EPC) decided to adapt its structure.

In December 2014, the EPC approved its revised charter to include a governance model that has now become effective and was published in February 2015.

A recent EPC Blog published this month covered the key features of the new EPC governance model, in particular, the management of the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) Schemes going forward.

The EPC points out that the adjustments to its governance model are of an evolutionary rather than a revolutionary nature. They contribute to ensure that the EPC meets its purpose, which is to support and promote European payments integration and development, notably SEPA.

As an international not-for-profit association, the EPC is committed to contributing to safe, reliable, efficient, convenient, economically balanced and sustainable payments, which meet the needs of payment service users.