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Single Euro Payments Area (SEPA) What does it mean for SMEs? Marieke van Berkel, Head of Department Payments and Securi

European Association of Co-operative Banks Groupement Européen des Banques Coopératives Europäische Vereinigung der Genossenschaftsbanken. Single Euro Payments Area (SEPA) What does it mean for SMEs? Marieke van Berkel, Head of Department Payments and Securities, EACB

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Single Euro Payments Area (SEPA) What does it mean for SMEs? Marieke van Berkel, Head of Department Payments and Securi

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  1. European Association of Co-operative Banks Groupement Européen des Banques Coopératives Europäische Vereinigung der Genossenschaftsbanken Single Euro Payments Area (SEPA) What does it mean for SMEs? Marieke van Berkel, Head of Department Payments and Securities, EACB NiklasBartelt, Head of Product Management Operations & Services, DZ Bank AG

  2. Agenda • SEPA overview (EACB) • Background • What is SEPA • Stakeholders • Potential benefits for SMEs (DZ Bank) European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  3. SEPA - background • Political objective of “internal market” • Introduction of the Euro – single market for “physical” payments • Need to create a single market for “electronic” payments • Interbank rules and standards – SEPA • Legal framework – Payment Services Directive European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  4. What is SEPA • Response of the banking industry to “internal market” objectives • Roadmap for SEPA 2004 • Interbank standards and rules for payments • in Euro’s • for core and basic services • Based on straight through processing • Executed between customer accounts in SEPA • Focusing primarily on • Credit transfers  SEPA Credit Transfer (SCT) • Direct Debits  SEPA Direct Debit (SDD) • Payments by Card  SEPA Card Framework (SCF) European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  5. What is SEPA • Geographical perimeter • the 27 EU Member States • Iceland, Liechtenstein, Norway (EEA) • Switzerland (EFTA)  but with priority for implementation in the Euro zone European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  6. What is SEPA • Legal perimeter – Payment Service Directive (PSD) • PSD ≠ SEPA • Overhauls existing legal framework • “harmonises” rights and obligations of users of payments instruments • Introduces “payment institutions” • Complements the SEPA programme • Publication in Official Journal imminent. Ultimate transposition date : November 2009! • Will apply to payments in euro and EU currencies in EU MS European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  7. What is SEPA • Calendar • SEPA Credit Transfer  28 January • Payments by Card  as from January 2008 • SEPA Direct Debit  align with PSD • Migration  under discussion European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  8. Stakeholders • Banking sector - SEPA programme • European Payments Council • European Commission – legal framework • Payment Services Directive • “monitor” • European Central Bank • “monitor” and stimulator • Supervisor • Users, service providers European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  9. Stakeholders • Dialogue with users and other stakeholders • At European level • EPC/European banking associations versus user associations • More and more structured  stakeholder forum 2007 • Consumer organisations • Merchants (invited) • SMEs • Corporate treasurers • Public administrations (invited) • At national level • National banking associations versus national user associations European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

  10. Useful links • European Payments Council (EPC): http://www.europeanpaymentscouncil.eu • European Central Bank: http://www.ecb.de/paym/sepa/html/index.en.html • European Commissionhttp://ec.europa.eu/internal_market/payments/sepa/index_en.htm European Association of Co-operative Banks (EACB): www.eurocoopbanks.coop

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