Transcript Slide 1

Developing market conditions for
Payment Institutions in the EU
March 2012
SECRETARIAT GENERAL | SQUARE DE MEEÛS 35 | 1000 BRUSSELS | TEL +32 2 230 05 45 | FAX +32 2 230 57 06 | WWW.EPIF.EU
Why are we here?
EPC formed June 2002
Payment Services Directive entry to force November 2009
« Provides the legal foundation for the creation of an EU-wide single market for
payments…seeks to improve competition by opening up payment markets to new
entrants, thus fostering greater efficiency and cost-reduction. »
Pls secure EPC representation, but not representative of market share – December 2009
« de facto grants a private monopoly to (the banking industry as represented by) the
EPC. »
- Commission Report 21 April 2010
7 June 2010 SEPA Council meets
for its first time
“Payment institutions no nomination yet”
EPIF Public Affairs Prioritization
5.1
IMPACT ON PAYMENT INSTITUTIONS
1.1
5.2
2.
3
2.5
4.1
3.
4
1.5
3.2
9.3
2.1
2.2
1.
2
3.5
1.3
6.3
3.3
1.4
4.2
7.1
10
8.2
9.2
8.1
9.1
8.3
8.5
6.2
6.1
8.4
ABILITY TO INFLUENCE OUTCOMES
3.1
1. SEPA
1.1 Payment Services Directive
1.2 SEPA end-date
1.3 SEPA Goverance
1.4 SEPA Card Scheme
1.5 E-money Directive
1.6 Cashless Society
2. Governance of Payments
2.1 European Payment Council (EPC)
2.2 SEPA Governance Council
2.3 National Supervisors
3. Money Laundering
3.1 Anti-Money Laundering Directive
3.2 Financial Action Task Force (FATF) Standards
3.3 G20 Negotiations
3.4 Terrorist Financing
3.5 UN Sanctions
4. Payment Standards
4.1 Eurosystem Oversight of Payment Standards
4.2 Committee on payment and Settlement System
(CPSS)
4.3International Organisation for Standardisation (ISO)
5. Financial Inclusion
5.1 Access to Basics Payments Accounts
5.2 Financial Inclusion
6 Payments Liability Issues
6.1 Online Gambling
6.2 Liability in areas of legal uncertainty
6.3 Payment fraud
7. Data Protection Issues
7.1 Data Protection directive
8. Consumer Protection
8.1 Review EU Consumer Acquis/ Consumer Rights
Framework Directive
8.2 E-Commerce
8.3 Consumer Market Scoreboard
8.4 Unfair commercial Practices Directives
8.5 Alternative dispute Resolution (ADR)
9 Third Country Dialogues
9.1 Transatlantic Economic council
9.2 EU-US Financial Markets Regulatory Dialogue
9.3 EU-Japan Dialogue, EU-China Dialogue & EU-India
Dialogue
10 MiFID – FX market reform
EPIF Mission Statement
• Ensuring PIs are fairly and appropriately represented in the EU.
• Acting as a neutral conduit by Members to ensure they are informed of EU
deliberations and decision-making.
• Providing impartial mechanism for Members to comment on proposals and to
provide input to the EU.
• Advancing overall regulatory and political objectives of the PI sector.
• Communicating the role of the PI industry in a clear fashion to the general public
and policy makers.
• Develop and shape PI marketing conditions
Effective Resourcing and Capability
EPIF is based on:
• Clear governance structure & legal status
• Broad & representative membership
• Clear identity, recognition by peer Associations & visibility
• Offices in Brussels
• Dedicated staff, and elected Chair
• Active working committees for its members
• A EU Public Affairs strategy: intelligence, analysis, strategy execution, and
contact programs
Governance Structure
•An Elected Chair
•Permanent staff
•Active working committees
•EU PA agency
•Possible PR strategy
Membership Eligibility
•
Open to payment institutions licensed under the Payment Services Directive, their parent or
otherwise affiliated companies, trade associations representing payment institutions, or entities
seeking authorization under this Directive (PI authorization application pending).
Institution may be one of the following:*
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–
–
–
–
Larger money transfer operators
Bill payment service providers
Mobile phone companies
noncredit or e-money institution credit card issuers
Other businesses which operate a mixture of these services, as well as firms that provide
payment services alongside their non-payment business
•
Possible inclusion of E-money institutions at a later stage
•
Possible inclusion of businesses predominantly carrying out payment or e-money payment services
* (as per UK FSA authorized payment institution definition, PSD consultation paper Dec. 2007)
Current Members
Current EPIF members include:
DINERS CLUB
WORLDPAY
EASY CASH
AMERICAN EXPRESS
ANAED
PAYVISION
WESTERN UNION
ATOS
ELAVON
MONEY GRAM
VEROTEL MERCHANT SERVICES
SMALL WORLD
FINANCIAL SERVICES
INTERNATIONAL ASSOCIATION
OF MONEY TRANSFER
NETWORKS
UK MONEY TRANSMITTERS
KBR FOREIGN
EXCHANGE
ASSOCIATION
Executive Board Administrators
Chair – Sarah Sheehan, American Express
Vice President and Chair of Technical Committee – Wolfgang Maschek, Western Union
Vice President and Chair of Public Affairs Committee – Leon Isaacs, International Association
of Money Transfer Networks
Treasurer – Dominic Thorncroft, UK Money Transmitters Association
External Representatives
European Commission’s Payment Systems Market Expert Group
EPIF Representative - Katerina Soteri, American Express
EPIF Representative - Philippe Belens, ATOS Worldwide
EPIF Representative – Isabel Hervas, ANAED
EPIF Representative – Wolfgang Maschek, Western Union
European Payments Council
EPC Plenary – Brendan Walsh, American Express
Card Payments Group – Sarah Sheehan, American Express
E-Payments Working Group – Ganesh Krishnamoorthi, Western Union
Legal Support Group – Irena Dajkovic, WorldPay
Mobile Working Group – Charlie Craven, American Express
Current Projects
• Finalisation of an EPIF response to the European Commission’s
consultation of their Green Paper ‘Towards an integrated European
market for card, internet and mobile payments’
• Preparation of an EPIF position paper on DG MARKT’s Review of the
3rd Anti-Money Laundering Directive
• Liaison with the Commission concerning their study on the
implementation of the Payment Services Directive
Current projects (2)
• EPIF contribution to the EPC’s Cards Working Group’s response to
the Commission’s Green Paper ‘Towards an integrated European
market for card, internet and mobile payments’
• EPIF contribution to the EPC’s Mobile Working Group’s response to
the 2nd edition of the EPC White Paper on mobile payments