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European Union
BG
IP/09/1666
Brussels, 3 rd November 2009
Antitrust : Commission consults on draft guidance for Single Euro
Payments Area (SEPA) Direct Debit scheme
The European Commission has invited comments on a Commission working
document that aims to provide further guidance to participants in the
SEPA Direct Debit (SDD) scheme to ensure that collective financing
arrangements applied within this scheme comply with EC Treaty
competition rules. The SDD scheme, launched by the European Payments
Council (EPC) on 2 November 2009, allows consumers and businesses, for
the first time, to use a pan-European system for cross-border direct
debit transactions . The working document complements indications as
regards competition rules already given in Council and European
Parliament Regulation 924/2009 on cross-border payments (see IP/09/637
) and in the joint Commission/European Central Bank press release and
statements of September 2008 and March 2009 (see IP/08/1290 and
IP/09/468 ). Comments can be submitted until 14 th December 2009. The
public consultation reflects the Commission's commitment to remain in
close dialogue with all relevant stakeholders. Following these
consultations the Commission may, if appropriate, decide to adopt
final guidance.
Competition Commissioner Neelie Kroes stated " Today we provide
further clarity to all stakeholders so that SEPA Direct Debit will be
well-equipped for its successful development. SEPA should bring real
benefits to European consumers and businesses, but it is important
that it complies with the competition rules so that the full benefits
can be achieved without adverse effects on banks' customers. The
Commission looks forward to receiving input from stakeholders to
refine our analysis".
The Commission working document focuses on general principles
concerning multilateral interchange fee ('MIF') arrangements applied
on a per transaction basis and concerning transactions that cannot be
properly executed (e.g. because there are insufficient funds in the
payer's account or because the account number is wrong - so-called
'R'- transactions) and alternative payment arrangements. More detailed
assessments should be possible following inputs from interested
parties on:
* possible collective financing mechanisms in light of specific
national market situations;
* the likely impact of Commission's envisaged general framework on
legacy schemes; and
* the price or quality experience of SDD as compared to current
national direct debit systems.
T
he main message in the Commission working document is that at this
stage the Commission's preliminary view remains that a collectively
set per-transaction MIF would not be in compliance with Article 81.
However, in principle, there may be different efficiency objectives
for a collective arrangement for multilateral fees for R-transactions
if appropriately designed. Such efficiencies, if appropriately
substantiated, could allow the Commission to find a collective system
for R-transactions in compliance with Article 81.
Background
SEPA ( Single Euro Payments Area) is an initiative of the European
banking industry, with the support of the Commission and the European
Central Bank, which seeks to create an integrated euro payments area
and ensure that cross-border payments are as easy and efficient as
domestic ones. SEPA covers credit transfers, payment cards and direct
debit. With the new SDD , customers of banks and other payment service
providers will for the first time be able to arrange cross-border
direct debits to and from bank accounts in any of the 32 European
countries participating in SEPA (the EU, Norway, Switzerland, Iceland,
Liechtenstein and Monaco) to pay recurring invoices, such as rent,
mortgage, energy and telephone bills and magazine subscriptions. SDD
can also be used to pay national direct debits and over time all euro
direct debits are likely to migrate to the new SDD.
As SEPA involves agreements between (potentially) competing parties,
collective financing arrangements for the SDD must comply with EC
Treaty competition rules. In this regard, Regulation 924/2009 on
cross-border payments in the Community granted a transition period for
collective inter bank charging mechanisms on a per transaction basis
until 31 October 2012 (see IP/09/637 ). The legal certainty and
clarity provided by Regulation 924/2009 during the transitional period
should facilitate the launch of and migration by banks to the new SDD
system . As regards the long-term financing arrangements the
Commission and ECB joint statement of 24 March 2009 makes clear that
'a general per transaction multilateral interchange fee (MIF) for
direct debit transactions does not seem justified for efficiency
reasons either for national or for cross-border transactions and
therefore does not appear compatible with EU antitrust rules' (see
IP/09/468 ).
For the full text of the Commission working document, see:
ec.europa.eu/competition/sectors/financial_services/SEPA_workin
g_document.pdf
The deadline for contributions is 14 December 2009, close of business.
For further details on SEPA, see:
ec.europa.eu/internal_market/payments/sepa/index_en.htm
ec.europa.eu/competition/sectors/financial_services/banking.htm
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