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The European Payments Council (EPC) is to set up a host of new bodies to manage the Single euro payments area (SEPA) scheme and are calling for independent candidates to join the process.
EPC calls for candidates to join SEPA scheme management bodies
the euro area finally arrived in August.
Now, the EPC is beginning the work of adapting its structure for the scheme’s management to boost stakeholder representation. To help achieve this, three new bodies are being set up: the Scheme Management Board, the Compliance and Adherence Committee, and the Appeals Committee – according to Finextra.
The Scheme Management Board will cover SEPA credit transfer and direct debit administration, includes approval of applications from payment service providers and the process of ensuring compliance with the rules as laid down in the SCT and SDD Rulebooks. The board will also manage the development and evolution of the schemes.
The new bodies are slated to be operational by the first quarter of next year and the EPC is calling on independent – i.e. not employed or affiliated with a scheme participant – candidates to apply to join. There are three vacancies on the Scheme Management Board and two each on the Compliance and Adherence Committee and Appeals Committee.
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