The EPC has agreed on the common rulebooks for credit transfers and direct debits, and a framework for card payments. This single set of rules will allow different entities to provide core services throughout the euro area. The ECB fully supports the EPC’s work in this field.
We also subscribe to the concept of separating the rules from the processing services, as it will allow operations on a European scale and bring an end to vertical integration, in which scheme rules are set by the processors. The third barrier is the legal barrier.