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Payment Instruments Oversight


The efficiency, reliability and security in the use of direct debits, credit transfers and cards is key for maintaining public confidence in the euro and for the smooth functioning of the financial sector.

Oversight Framework

The Eurosystem has defined its harmonised oversight approach and minimum set of common oversight standards for payment instruments used across the Single Euro Payments Area (SEPA). This includes in particular SEPA direct debits, SEPA credit transfers, cards and e-money schemes.

(a)  Harmonised oversight approach and oversight standards for payment instruments.

(b)  Oversight framework for direct debit schemes and Guide for the assessment of direct debit schemes against the oversight standards.

(c)  Oversight framework for credit transfer schemes and Guide for the assessment of credit transfer schemes against the oversight standards.

(d)  Oversight framework for Card Payment Schemes - Standards and Guide for the assessment of card payment schemes against the oversight standards.

The European Central Bank (ECB) is the lead overseer for SEPA credit transfer and direct debit schemes and for some of the international card payment schemes.