Euro Retail Payments Board publishes recommendations in Annual Report 2014-2015


The Euro Retail Payments Board, an advisory body for retail payments set up by the European Central Bank, published its recommendations on stimulating innovation and competition in the European retail payments market. As one of the seven members of the demand side of the Board and chair of one of the Working Groups, Ecommerce Europe has ensured that the voice of the online merchants is heard in the recommendations published.

Accepting cross-border electronic mandates made easier

Ecommerce Europe chaired the working group of the Euro Retail Payments Board (ERPB), which has provided recommendations for easier acceptance of electronic mandates from another Member State. Paul Alfing, Chair of the e-Payments Working Committee of Ecommerce Europe and participant in the ERPB meetings, explains: “The recommendations aim to ensure that merchants accepting electronic mandates adapt and offer at least one solution for accepting mandates from consumers from another Member State. The recommendations address various stakeholders and are expected to stimulate cross-border e-commerce and to expand the reach of online merchants in Europe.”

Pan-European instant payments

The ERPB defines “instant payments” as electronic retail payment solutions available 24/7/365 that result in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the consumer’s account with confirmation to the consumer (within seconds of payment initiation). Instant payments hold great potential and the ERPB wants to stimulate cross-border use. The Working Group of the ERPB on instant payments is still continuing its work, but one of the main conclusions has already been made: Irrespective of the payment instrument on which they are based, instant payment solutions offered to end-users in euro should be developed at the pan-European level, or, if developed at the national level, should at least be interoperable with those solutions based upon the same payment instrument.

Annual Report of the Euro Retail Payments Board 2014 – 2015

To read more about the recommendations of the ERPB on electronic mandates, instant payments, and other topics such as peer-to-peer mobile payments, please click here to download the full report. The report also includes the work plan for the coming years and a listing of all of its members.

Next steps

The ERPB has no formal powers to impose binding measures. However, its members commit the associations they represent to the ERPB guidance. Ecommerce Europe will continue to take an active role in the Board and its working groups to ensure the interests of online merchants are adequately represented.

To know more in detail Ecommerce Europe’s recommendations for facilitating cross-border e-commerce in Europe, you can download Ecommerce Europe’s Priority Paper here.