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The European Automated Clearing Association and the role of clearing and settlement mechanisms in Europe’s evolving payments landscape
Journal of Payments Strategy & Systems,
16
(2),
160-169
(2022)
Abstract
This paper presents a concise history of the Single Euro Payments Area (SEPA), with particular emphasis on its impacts on clearing and settlement practices, and on the role of the European Automated Clearing Association as a forum to support the standardisation, harmonisation and consolidation of European payment systems. The paper provides policymakers, scholars and practitioners with an introductory overview, and will help readers, especially those new to SEPA, to understand both its history and more recent developments in the euro area. The conclusions highlight the indispensable role of clearing and settlement infrastructures as a backbone for the payment services delivered by banks, as well as the importance of collaboration for infrastructural evolution.
Keywords: clearing and settlement; payments integration; payments harmonisation; collaboration; SEPA; EACHA; payments infrastructures
The full article is available to subscribers to the journal.
Author's Biography
José M. Beltrán is Director of Business Development at STET, where he is responsible for business development and international sales in the areas of both clearing and settlement and card authorisation and clearing. He has over 30 years’ experience in international payments in the areas of operations, IT, cash management, treasury and liquidity risk management, working with major international banks in London, Paris, Madrid and the Nordics.
Fred Bär is a Partner at the Payments Advisory Group, an international business consultancy specialised in payments. He has advised on topics relating to the Revised Payment Services Directive, instant payments in Europe and the recent launch of the Vietnamese NAPAS automated clearinghouse. He is Secretary General of the European Automated Clearing House Association.
