2006年-ECB欧洲央行_The_Eurosystems_view_of_a_SEPA_for_Cards_14页_144kb

Summary of the Eurosystem's View on a "SEPA for Cards"

Core Content

The Eurosystem has expressed its views on the development of a Single Euro Payments Area (SEPA) for cards, emphasizing the need for a competitive, cost-efficient, and integrated card payment market across the euro area. The goal is to ensure that European citizens and merchants benefit from seamless and fair card transactions throughout the region.

Currently, the euro area card market is highly fragmented, with national card schemes operating in each country. These schemes are often co-branded with international schemes like Visa and MasterCard, allowing cross-border transactions. The Eurosystem believes that this fragmentation must be eliminated to achieve the full potential of SEPA.

Main Views and Key Characteristics of a SEPA for Cards

A SEPA for cards should have the following key characteristics:

• Consumer choice: Cardholders should be able to choose from a variety of payment card schemes without any pre-assigned priority at point-of-sale (POS) terminals.
• Competitive market: There should be a competitive, reliable, and cost-efficient card market, including service and infrastructure providers.
• Elimination of national segmentation: All technical, contractual, and business provisions that previously limited the use of cards within national borders must be removed. Merchants should be able to accept any SCF-compliant card without barriers.

The SEPA Cards Framework (SCF)

The European Payments Council (EPC) has developed the SCF, which outlines three options for card schemes to achieve SEPA compliance:

1. Replace national schemes with international ones (e.g., Visa or MasterCard) that are SCF-compliant. This would eliminate the need for co-branding.
2. Evolve through alliances or expansion to the entire euro area. Alliances like the Euro Alliance of Payment Schemes (EAPS) aim to create a pan-European scheme by combining national and international efforts.
3. Co-branding with an international scheme, which is currently the norm in most countries.

The Eurosystem supports these options but cautions against the dominance of Visa and MasterCard, as their higher interchange fees could undermine the cost-efficiency of SEPA. It also emphasizes the need for clear public policy guidance on interchange fees and standardization to ensure fair competition.

Key Issues and Challenges

• Interchange fees: These fees, paid by acquirers to issuing banks, are a critical factor in the cost structure of card payments. The Eurosystem urges the European Commission to clarify its stance on interchange fees and ensure transparency and uniformity across the euro area.
• Co-branding: While it is widely used, co-branding perpetuates national segmentation and may not be a long-term solution for SEPA. It should be used as a transition tool, not as a permanent strategy.
• Standardization: To enable interoperability, technical standards must be uniform and transparent, with an independent certification body for payment terminals. The EPC is working on these standards, which the Eurosystem expects to be mandatory for all stakeholders.
• Data protection: The transfer of non-aggregated personal data outside the EU should be avoided to comply with EU data protection regulations.
• Fraud prevention: The Eurosystem stresses the importance of combating fraud, especially cross-border fraud, and supports a clear strategy for this, including the implementation of EMV standards.

The Need for a European Card Scheme

The Eurosystem believes that at least one European card scheme should emerge to enhance competition and diversity in the market. This scheme could be co-branded with international schemes or fully independent. It is important that such schemes are transparent and open to all stakeholders.

Public Policy Recommendations

• The European Commission should clarify its policy on interchange fees and acquiring practices to ensure a level playing field.
• National and European competition authorities should align their decisions to avoid market disruption.
• Standardization and certification must be mandatory and timely to support the transition to a fully integrated SEPA for cards.
• Monitoring of card payment fees is necessary to prevent unintended price increases and ensure fair competition.

Conclusion

The Eurosystem advocates for a seamless, integrated, and competitive card payment market across the euro area. It supports the SCF but calls for additional clarity and guidance on interchange fees, acquiring practices, and standardization. A European card scheme is seen as a vital component of SEPA compliance, and the transition must be managed carefully to ensure cost-efficiency, transparency, and consumer benefit.