Implementation

Overall Implementation

SEPA is a complex project; it is being implemented in over 7,000 Eurozone banks and thousands of other banks in non-Eurozone countries.  The Eurozone banks are located in 17 countries, and the non-Eurozone banks in 12 countries (29 countries in total, including EU countries plus Norway, Iceland, Liechtenstein, and Switzerland)

The European Payments Council (EPC) was established in 2002 to deliver SEPA.  Its constitution was subsequently amended to give it decision-making status on behalf of the banking industry. The EPC has 74 members, and over 300 professionals participate in committees.

Structual diagram of SEPA European Payments Council

The EPC is representative of the three categories of banks in Europe, Commercial Banks, Savings banks, Co-op banks.  Only the commercial banks in Ireland are represented.

The EPC Plenary meets 4 times per annum.  The Co-ordination Committee meets monthly or as required.  The various working and support groups each have their own working schedules.

With the exception of a small secretariat, all members of the EPC and it’s various bodies are full-time bankers who give freely of their time to support this activity.

As at Feb 2011, the following are the key members of the EPC:

  • Chairman: Gerard Hartsink
  • Vice-Chairman: Claude Brun
  • Secretary-General: Marco Musto

National Management and Control - Ireland

The Irish Payment Services Organisation Ltd (IPSO) is responsible for ensuring implementation of SEPA in Ireland.  IPSO has also assumed the role of the National Adherence Support Organisation (NASO) for the Irish SEPA Community. The role of the NASO is to provide a link between proposed participants to the SEPA Credit Transfer Scheme and the EPC.

Established in 1997, and based in Dun Laoghaire, IPSO is the representative, strategic and technical support body for the Irish payments industry. There are currently four autonomous payment system companies - the Clearing Companies operating under the umbrella of IPSO, each responsible for its own operating rules, settlement procedures, standards and access criteria. Each has its own board of directors. IPSO is owned and funded by the Irish banks.

The Clearing Companies are regulated by the Central Bank and Financial Services Authority of Ireland (CBFSAI).
IPSO has membership on the board of the European Payments Council, and on the Coordinating Committee of EPC.  This committee is a key policy development body within the EPC structure.  Additionally, the Irish banks, coordinated by IPSO, provide members to all of the key working groups within the EPC.

Within Ireland, SEPA has become interlinked with the National Payments Implementation Programme (NPIP), a programme for general reform of payment systems in Ireland.


Michael O’Neill is co-ordinator for the implementation of the Ireland National Plan for SEPA, with specific responsibility for monitoring delivery by members of agreed milestones. He represents Ireland on various European Payments Council working groups and the EBF PSD Expert Group