Austrian Payments Council
Tel: +43/1/505 32 80-0
A-1070 Wien, Stiftgasse 15-17/8
| The tasks of the APC
Initially, the path to SEPA for Austrian payment transactions means the implementation of the SEPA schemes for credit transfers and direct debits until 2008. The guidelines for cards (SEPA cards framework) and cash seem from today’s perspective easier to fulfil or partially already fulfilled.
At the same time as the implementation of the scheme effects on NLF (new legal framework – new legal framework for payment transactions) and FATF (money laundering stipulations) are to be taken into consideration as well.
Similarly, there have been changes to Austrian payment transactions through the use of TARGET2 and SSP (system for payment of large amounts in the European central banking system) which have to be incorporated as influential factors in the SEPA implementation.
The task of the APC is to embed the SEPA schemes into the Austrian payment transaction landscape in such a way as to achieve the optimum between minimizing expenditure on the one hand and a positive effect on the other. The later migration of the international payment transaction into the pan-European, in so far as it is possible, is also to be considered here.