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Creating e-SEPA: Now or never
Journal of Payments Strategy & Systems,
5
(2),
114-124
(2011)
Abstract
As online payments take off, European banks have a unique chance to get it right, and introduce a bank-driven, Europe-wide infrastructure for e-payments. Such an infrastructure should include a scheme for instant authorisation of e-payments (online, mobile or other), after which clearing and settlement can take place through various channels, such as SCT, SDD or Cards. Such a scheme would include a rulebook, communication/messaging protocols and standards and be open enough to existing customer-to-bank authorisation digital identities and authentication mechanisms. It also needs to be supported by a compelling business model and strong governance.
Keywords: SEPA; e-payments
The full article is available to subscribers to the journal.
Author's Biography
Gottfried Leibbrandt is a former CEO of Swift, the cross-border payments network. He is currently on the board of CLS, as well as the advisory board of yes.com. He is the co-author of the book ‘The Payoff: How Changing the Way We Pay Changes Everything’. He also serves as senior adviser to McKinsey & Co, where he was a partner before joining Swift.
Chiel Liezenberg and Douwe Lycklama are the founding partners of Innopay. They can be reached at chiel@innopay.com and douwe@innopay.com, respectively.
