Publications
18.12.2009
Latvia's National SEPA Plan, Version 1.0
On 14 December 2009, the Money and Payment Systems Working Group of the Republic of Latvia Euro Project Steering Committee approved Latvia's National SEPA Plan, Version 1.0 (
648 KB). The Plan describes the roles of all stakeholders – public authorities, corporates, small and medium enterprises and payment processing and payment technologies' providers in the SEPA project and their tasks, and provides a timeline for putting SEPA payments on the Latvian payments market and presents more comprehensive information about SEPA payments, SEPA infrastructures, SEPA legal framework and standards as well as SEPA communication plan.
The European Commission Communication "Completing SEPA: a Roadmap for 2009–2012"
On 10 September 2009, the European Commission adopted a Communication "Completing SEPA: a Roadmap for 2009–2012". The roadmap identifies a number of actions to be implemented by all stakeholders – the European Union and national authorities, industry and users over the next three years, and outlines the following six priorities:
- foster migration;
- increase awareness and promote SEPA products;
- design a sound legal environment and ensure compliance;
- promote innovation;
- achieve standardisation and interoperability;
- clarify and improve SEPA project governance.
The roadmap recurrently emphasises the need for active involvement of public authorities in the implementation of the SEPA project.
ECB information brochure: SEPA - An integrated retail payments market – updated version
On 6 July 2009, the European Central Bank published an updated version of the information brochure "The Single Euro Payments Area (SEPA): an integrated retail payments market", that contains comprehensive explanation about the SEPA objectives and components and informs about the stakeholders involved in the SEPA project etc. The updated version contains the latest information about the SEPA project timeline.
The brochure is also available in Latvian.
E-Payment products and value-added services - moving towards an innovative European internal market
Elin Amundsen (Danmarks Nationalbank), Dace Kalsone (Latvijas Banka)
Abstract:
Central banks analyse issues concerning retail payments - or just payments - to be able to promote optimal means of payment. Over the years, electronic payments - i.e. payments initiated and settled electronically - have gradually replaced manual paper-based payments on the grounds of convenience, security and efficiency. Moreover, payments become more efficient when services are offered to customers both before and after payment. These so-called value-added services (VAS) are fully electronic services such as e-invoicing and e-reconciliation, which bring time and cost-savings for all participants, as paper-based services and manual work are replaced. In this paper we prove a clear-cut distinction between electronic payment products (e-payments) and VAS. We use the so-called Single Euro Payments Area (SEPA) project as a case study and discuss its current state of fatigue. Based on practical experience in Europe we conclude that the SEPA fatigue can be overcome by real-time settlement for payments and VAS supporting end-to-end (e2e) straight-through processing (STP).
SEPA implementation plan of the Latvian banking community, Version 1.0
The SEPA Working Group of the Payments Committee of the Association of Latvian Commercial Banks has prepared the document informing about the position of Latvia's banks regarding the accession to the Single Euro Payments Area – "SEPA Implementation Plan in the Banking Sector of Latvia" Version 1.0
The above document presents an opinion of the banking sector about the SEPA requirements and ensuring standard-compliant euro payments in Latvia. The plan outlines the progress achieved as well as the necessary activities which should be carried out by banks and clearing and settlement mechanisms to offer the SEPA-compliant euro payments to the customers of Latvian banks.
More detailed information is available on the website of the Association of Latvian Commercial banks. The document has been re-published on the European Central Bank's SEPA Web site.
ECB information brochure: SEPA - An integrated retail payments market
On 13 November 2006, the European Central Bank published an information brochure "The Single Euro Payments Area (SEPA): an integrated retail payments market", that contains comprehensive explanation about the SEPA objectives and components and informs about the stakeholders involved in the SEPA project etc.
Currently the brochure is also available in Latvian.
Last updated: 09.03.2010. 16:39
