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ZKA (Zentraller KreditAusschuss) in Germany, Sermepa
in Spain, ABI (Association of Italian Banks) in Italy, Link in the
UK, etc. All these European systems or associations, key stakeholders
in their country's electronic payment sector, have their own "view"
on the implementation of the SEPA, its advantages and the remaining
obstacles to be cleared. A brief overview follows below.
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| To create SEPA, Europe will have to choose between
the more extensive use of international systems, upgrading one or
more national systems, or co-branding between national and international
systems.
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ZKA: No 1 priority, cut costs
For ZKA, the SEPA should be implemented as soon as possible with two
main objectives: "cut the costs generated by the inefficiency
of the trans-border payment system, and improve the efficiency and
level of acceptance of the various national systems", explained
Udo Einhoff of ZKA. The main obstacles still in the way: the hesitation
or reticence shown by the various stakeholders, notably at the national
level. The first thing that needs to be done is, therefore, to clarify
each of the national interests and policies. The Berlin Group, of
which ZKA is a member, has already started the ball rolling on this
task, concentrating initially on the costs of trans-border payment
systems.
Sermepa: SEPA already on track
In Spain, the overriding feeling is that the current system already
complies with SEPA requirements. "All cards are linked to an
international brand and can be used in Spain and the other countries
in exactly the same way," explained Mario Cantero of Banco Santander.
"All payment terminals accept at least two international brands,
and there are no technical or regulatory obstacles to foreign banks
that want to issue cards or carry out transactions in Spain. Our expectation
is that SEPA will provide Spanish banks with the same access to the
other European markets."
ABI: three potential strategies
In Italy, the ABI (Association of Italian Banks) considers that the
SEPA is the last stage (but not the least important) in a harmonisation
process that began a few years back. ABI's Emiliano Anzellotti explained,
"We have identified three potential strategies for the direction
that domestic bankcard systems can take in moving towards the SEPA:
the implementation of one or several international systems to replace
the existing national systems; the adoption of a pan-European system
through interoperability agreements between the national systems;
or, finally, the development of a co-branding strategy in which cards
would be co-branded between national and international systems."
Within this context, the ABI emphasises the need for a management
structure with the ability to carry out the changes within the European
context.
LINK: be a major operator in the system
In the United Kingdom, the position of LINK (manager of the ATM network)
is slightly different because of the country's specific position in
Europe. "As the UK is outside the eurozone, we are not directly
implicated in work on the SEPA as a system, but we do want to be involved
as an operator", explained LINK CEO John Hardy. "We are
keeping a very close eye on the EPC's recommendations, without jumping
to any conclusions. For the time being, it's fairly difficult to predict
just what path they will go down." Some things are already sure:
the SEPA's role will be fundamental and smart cards will certainly
become the norm. |
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