Standardisation of payment services and processing is critical .

Second , it investigated additional optional services which could improve the handling of payments .

Value added services , such as e invoicing and e reconciliation , will help companies to optimise further their handling of payments .

data processing services , such as data entry , tabulation and processing on a time sharing basis

Division Payment Systems Policy Division TARGET and Payment Processing Division Securities Settlement Systems Policy

and ( ii ) which provides services to a connected NCB for the processing of cross border payments within TARGET , thereby establishing a bilateral link , ( 2 )

The next step will be to develop and offer value added services for customers . These will enhance the SEPA payments and guarantee their user friendliness , thereby fostering the establishment of a paperless payments area with end to end STP for all payments .

This separation will allow infrastructure providers to compete and offer their processing ser vices to any bank or card scheme provider .

This separation will allow infrastructure providers to compete and offer their processing services to any bank or card scheme provider .

PROMOTING INVENTIVE VALUE ADDED SERVICES One main task in this area should be the development of value added services that can be combined with electronic SEPA payments , thereby stimulating a paperless payment area with end to end STP .

As a consequence , consumers will spend less time handling payments .

to separate effectively card scheme management and processing services without any possibility for crosssubsidisation or other practices that could give an advantage to own processing services

to separate effectively card scheme management and processing services , without any possibility for crosssubsidisation or other practices that would give an advantage to own processing services

During contingency processing , incoming contingency payments may be used to fund outgoing contingency payments .

process .

The first work stream is the definition of the core features and functions offered by TARGET2 ( e.g. payment processing and settlement services , interface issues , liquidity management , information services , business continuity and security ) .

These services range from invoicing to reconciliation services and help to ensure the end to end straight through processing ( STP ) of all payments . This reduces the cost of making and receiving www.eact.eu payments , as payments are effected without paper or manual intervention .

During contingency processing , incoming contingency payments may be used to fund outgoing contingency payments .

process payments for itself and its customers

End to end straight through processing Value added services offered before payment Value added services offered after payment

m o b i l e p ay m e n t i n i t i a t i o n ) . O t h e r s e r v i c e s a l l ow e l e c t ro n i c confirmation of payments .

Today , these services are often only offered nationally , as different payment formats make cross border use difficult .

It also includes the payment mechanism of the ECB , the EPM , and an interlinking mechanism that enables the processing of cross border payments .

Agriculture , mining and on site processing services ( code 281 ) Comprises Waste treatment and depollution ( code 282 ) and Agriculture , mining , and other on site processing ( code 283 ) .

Payment card processors will be able to compete with each other and offer their services throughout the euro area , making the processing payment card market more competitive , reliable and cost efficient .

The handling of payments will be simplified , as all incoming and outgoing payments will have the same format .

T h e handling of payments will be simplified , as all incoming and outgoing payments will use the same format .

include a reference to the SEPA criteria of the EPC and the Eurosystem 's expectations 9 in the text of their invitations to tender for payment processing

PaisaPay makes possible payments from abroad by PayPal account holders to Indian sellers on eBay.in.

Its goal should also be to make processing such payments more efficient than processing national payments today , so that national payments could be made more efficient by integrating them into a pan European infrastructure .

c ) observe the Eurosystem 's SEPA policy by i ) using an infrastructure ( if relevant ) that has undergone the self assessment against the relevant ToR relating to infrastructures , that has published the results and observes the ToR in accordance with this self assessment

The PSD will give payment institutions the possibility of offering a broad range of payment services .

OVERSIGHT STANDARDS FOR EURO RETAIL PAYMENT SYSTEMS 1 Introduction system service providers are expected to meet .

THE SEPA INFRASTRUCTURES AND STANDARDS The present infrastructure for the processing of retail payments has been designed to serve independent national payment systems .

Agricultural , mining , and other on site processing services Other business services Services between related enterprises , n.i.e.

The SCF requirements for open access to the scheme and separation of scheme and processing for authorisation , clearing and settlement are aimed at removing obstacles to competition for services in network industries with an essential facility ( i.e. offering competitive card services over a neutral processing infrastructure ) . These SCF ECB Sixth single euro payments area ( SEPA ) progress report November 2008

The EPC has defined a framework that clarifies the rules and procedures to be followed by infrastructure providers ( i.e. ACHs , card scheme processors and other processors that handle , transfer and exchange payment related information for financial institutions ) .

The EPC has defined a framework that clarifies the rules and procedures to be followed by infrastructure providers ( i.e. ACHs , card scheme processors and other processors that handle , transfer and exchange payment related information for financial institutions ) .

Traditionally , these infrastructure providers have been responsible for the management of the rules , practices and standards related to payments made within a countr y , and they also typically offer their processing ser vices to financial institutions .

To this end , the Eurosystem provides payment and securities settlement facilities

Traditionally , these infrastructure providers have been responsible for the management of the rules , practices and standards related to payments made within a country , and they also typically offer their processing services to financial institutions .

Implementation projects have already been set up by processors in Germany , Italy and the Netherlands .

CORRESPONDENT BANKING Banks often have arrangements to provide one another with payment services and related facilities , primarily for payments across national borders .

consulting and public relations services Advertising , market research , and public opinion polling Research and development Architectural , engineering , and other technical services Agricultural , mining , and on site processing services .

ECB Opinion on Slovenian legislation on payment services and systems