Support Centre

You have out of 5 free articles left for the month

Signup for a trial to access unlimited content.

Start Trial

Continue reading on DataGuidance with:

Free Member

Limited Articles

Create an account to continue accessing select articles, resources, and guidance notes.

Free Trial

Unlimited Access

Start your free trial to access unlimited articles, resources, guidance notes, and workspaces.

EU: EPC updates SEPA payment scheme rulebooks, addresses geographical scope and Brexit

The European Payments Council ('EPC') announced, on 30 October 2020, that it had updated its Single Europe Payments Area ('SEPA') payment scheme rulebooks. In particular, the EPC outlined that version 1.2 of each rulebook includes an updated Section 5.4 which mentions, among other things, the relevant authorisation and regulatory requirements for payment service providers from countries not belonging to the European Economic Area, to which the geographical scope of the payment schemes has been extended. In addition, the EPC highlighted that an update to Section 5.4 was needed due to the inclusion of Andorra and the Vatican City State in the geographical scope of the payment schemes, as well as the ratification of the United Kingdom withdrawal agreement paving the way for Brexit at the end of 2020.

You can read the press release and access the updated rulebooks here.