European Payments Council

About

The European Payments Council (EPC) is the Brussels-based body that manages the SEPA payment schemes, the rules underlying most euro credit transfers and direct debits in Europe. The banking industry created it in 2002, in response to the EU institutions' call to develop harmonised electronic euro payment instruments. It is an international not-for-profit organisation (AISBL), not an EU institution, and it has 82 members, which are payment service providers or associations of them. Its schemes include SEPA Credit Transfer, SEPA Instant Credit Transfer, SEPA Direct Debit and One-Leg Out Instant Credit Transfer, and its site also covers SEPA Request-to-Pay, SEPA Payment Account Access and Verification of Payee. Representatives of its members and other payment stakeholders develop the schemes through working groups and task forces, supported by staff in Brussels.