The European Payments Council (EPC) and the
Cards Stakeholders Group have released the latest SEPA Cards
Standardisation Requirements for public consultation.
The document defines the functional and
security standards required needed to achieve the interoperability
required by SEPA, and the revisions are open to review until 29
July 2011.
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The requirements have been developed by the
Cards Stakeholders Group together with retailers, vendors, payment
device manufacturers, processors, card schemes and banks. The new
version includes updates with regard to security requirements,
payment with cashback, dynamic currency conversion, mobile
contactless payments, payment with aggregated amount and
surcharging.
“Our collective aim is to establish a
framework for a better, safer, more cost efficient and richer card
services environment, whatever the card product or scheme may be,”
said Gerard Hartsink, chairman of the EPC.
“We call on all stakeholders to engage in this
public consultation and provide feedback on these amendments to
ensure the most effective transaction technology and processes are
adopted, which will ultimately benefit all stakeholders.”
The consultation document can be viewed
here.
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