2013年-ECB欧洲央行_SEPA_migration_report_March_2013_19页_1mb

SEPA Migration Report – March 2013 Summary

Core Content

The SEPA Migration Report from March 2013 provides an overview of the progress and challenges in migrating from national payment schemes to the SEPA credit transfers (SCTs) and SEPA direct debits (SDDs) schemes across the euro area. The report highlights the importance of timely migration to ensure the smooth operation of the European payment market and the integration of retail payments under a unified framework.

Main Viewpoints

• Migration Deadline: The SEPA Migration End-date Regulation set 1 February 2014 as the deadline for migration to SCT and SDD schemes in the euro area. Non-euro area Member States have a later deadline of 31 October 2016.
• Eurosystem's Role: The Eurosystem acts as a catalyst for the migration process, monitoring progress, raising awareness, and identifying obstacles to ensure deadlines are met.
• Challenges and Risks: Migration is seen as a complex and challenging process, with some stakeholders delaying migration, particularly for SDDs, which could lead to operational risks and reduced public trust in the new schemes.
• Stakeholder Preparedness: The report evaluates the preparedness of payment service providers (PSPs) and payment service users (PSUs), emphasizing the need for early migration to avoid complications in the supply chain.

Key Information

1. Migration to SEPA Schemes

• SCT Migration: The SCT scheme has seen good progress, with 34.9% of total credit transfer volume in the euro area using SCTs in December 2012. However, the migration rate varied significantly across countries.
  • Slovenia and Finland: All credit transfers are processed via SCT.
  • Belgium, Greece, Cyprus, Luxembourg: More than 50% of credit transfers use SCT.
  • Four countries: SCT migration results are below 10%.
• SDD Migration: The SDD scheme has limited adoption, with only 1.9% of direct debit transactions in the euro area using SDDs in December 2012. Only Slovenia had made significant progress, and other countries showed minimal migration activity.
• Technical and Contractual Issues: The complexity of migration projects and the need to align with ISO 20022 message formats are major challenges. The use of XML-conversion services is also a factor, though it may introduce data truncation and reconciliation issues.

2. Preparedness of Payment Service Providers (PSPs)

• Quantitative and Qualitative Indicators: The Eurosystem uses both types of indicators to assess the migration progress.
• SCT Preparedness: While some progress has been made, not all PSPs have completed preparations for SCT services. Customer servicing channels need to be adjusted to support SEPA transactions.
• SDD Preparedness: The preparedness for SDD services is lower than for SCT. PSPs must ensure creditors' and debtors' servicing channels are aligned with SEPA requirements.
• Derogations and Formats: Some countries have extended the use of proprietary formats until 2016, which may result in additional costs for PSPs and end-users. Conversion services between legacy and ISO 20022 formats are expected to be available in these countries.
• Causality Dilemma: There is a challenge in aligning the availability of SEPA-compliant channels with the internal migration projects of PSUs. PSPs are urged to prepare customer servicing channels by the end of Q2 2013.

3. Preparedness of Payment Service Users (PSUs)

• Approaches by PSUs: Two main approaches are identified:
  • Large-scale migration: Some PSUs are implementing full system adjustments to take advantage of all SEPA functionalities.
  • Basic compliance: Others are focusing on minimal impact on ERP systems, often relying on XML-conversion services from third parties.
• Corporate Migration: Corporates have delayed migration, even to the end of 2013, which may result in operational risks and supply chain disruptions.
• Public Administrations and SMEs: These groups are also urged to migrate early, with the Eurosystem emphasizing the need for early readiness to avoid complications.

4. Other Migration Developments

• E-Mandate Solutions: The Eurosystem regrets that a pan-European e-mandate solution has not been prioritized, as it could streamline the migration process. Some countries are planning for faster SDD collection cycles, but these may not be effective if introduced too late.
• Market Monitoring: The report stresses the need for cooperation among competent authorities and PSPs to support the integration of the SEPA market. The Eurosystem is ready to assist where necessary, especially when local decisions affect the broader market.

Conclusion

The migration to SEPA schemes is a critical phase for the European payment market. The Eurosystem encourages early migration to minimize risks and ensure the smooth transition to a unified payment system. While progress has been made, particularly in the SCT scheme, the SDD scheme still faces significant challenges. The report highlights the importance of technical readiness, awareness, and cooperation among stakeholders to achieve the goals of the SEPA project.