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Ten years ago the European Commission (EC) and the European Central Bank (ECB) announced a common vision for the Single Euro Payments Area (SEPA), which they described as an “integrated market for payment services which is subject to effective competition…” and described their role as “creating open and common standards that overcome technical and commercial [...]

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The European Payments Council (EPC), representing payment service providers, and the Cards Stakeholders Group (CSG), a multi-stakeholder body gathering retailers, vendors, processors, card schemes and the EPC, today published version 7.1 of the SEPA Cards Standardisation Volume (the Volume). The Volume is a key document for the card industry, aimed at achieving cards standardisation, interoperability, [...]

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Real-time cross-border payments might soon be a reality, thanks to the efforts of a new payments industry group. But is there a business case for adopting the ISO 20022 standard? With multiple countries implementing real-time payments initiatives around the globe, interoperability between systems is key. Therefore, the ISO Real Time Payments Group (RTPG), a collection [...]

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