Brussels, 03/11/2009 (Agence Europe) - Since 2 November, the banks of the EU have been setting in place a system which will allow bank account holders in one member state to authorise direct debits to other member states. The member states of the eurozone have until the end of November 2010 to implement this system: the other member states of the EU must do the same by 2014. This initiative comes in the train of developments with the Single Euro Payments Area (SEPA).
Until now, this payment system was available only at national level. Supported by the new EU rules on SEPA, which entered into force on 1 November, this system aims to make cross-border direct debits in the eurozone “as easy, efficient and secure as debits within the national systems”, states a Commission press release. Direct debits consist of a transfer made by an entity (trader, service provider) of funds from the account of the client, subject to the prior authorisation of that client. They are widely used to pay invoices or other regular payments, and are therefore not to be confused with money transfers or payments by debit or credit card. The directive on payment services, which was to have been transposed by 1 November 2009, aims to facilitate all of these kinds of payments at cross-border level. With the exception of Finland and Sweden, all member states will have transposed the directive by the end of the year.
Draft guidelines - public consultation. On the direct debit system, the Commission announced on Tuesday 3 November the launch of a public consultation on draft guidelines. These will provide "clarity" on the implications of Community law to a new cross-border system, according to Competition Commissioner Neelie Kroes. The Commission takes the view that a "multilateral interchange fee by transaction laid down collectively", envisaged by certain market parties, would constitute an illegal cartel by virtue of article 81 Treaty. On the other hand, it could be tolerable, from the point of view of the Commission, if it limited its activities to the management of so-called "R" activities, which cannot be correctly executed for technical reasons or as a result of errors. Interested parties are invited to submit their observations on the proposed guidelines (http: //ec.europa.eu/competition/sectors/financial_services/SEPA_working_document.pdf ) by 14 December. (C.D./transl.fl)