The Euro Retail Payments Board (ERPB), which replaced the SEPA Council established in Europe to oversee the effort to standardize cross-border euro payments, recently announced during its first meeting that it will form two temporary new working groups.
The first group will focus on post-Single Euro Payments Area (SEPA) migration issues related to credit transfer and direct debit, while the second group will focus on pan-European solutions to address direct debits. The ERPB said it would also consider the possibility of establishing working groups on mobile payments and innovative payments.
Additionally, during the board’s first meeting, the ERPB established its priorities for the next three years—an alternative direct debit scheme that excludes the right for consumers to request refunds for verified transactions, though the board said consumers must still have full transparency and the scheme would only be applicable for a limited number of goods and services.
Another of the board’s priorities is the development of European-wide electronic mandate solutions for direct debit to ease the process. Currently, an individual or organization can only collect funds through direct debit if the payer has mandated receipt of funds.
The ERPB also invited the Cards Stakeholders Group to develop a plan to deal with the practical implementation issues related to payment card standards.
SEPA is a payment integration initiative of the European Union. The initiative includes membership from 28 EU member states, four members of the European Free Trade Association, Monaco and San Marino.