Austrian Payments Council
Tel: +43/1/505 32 80-0
A-1070 Wien, Stiftgasse 15-17/8
|APC - Austrian Payments Council
To set up the European project, a „Single Euro Payments Area“ (SEPA) poses extraordinary challenges for all those involved, particularly the financial industry, over the coming years.
Against this background, the Austrian credit institutes, together with the Austrian national bank (OeNB), the Austrian Chamber of Commerce (WKÖ), Sparte Bank and Insurance and the Association of Austrian Banks and Bankers (VÖBB) have, within the framework of the existing banking cooperation platform, the STUZZA Ges.m.b.H, set up the Austrian Payments Council, shortened to APC.
In the APC voting and agreements on the migration of Austrian payment transaction processes to the pan-European take place. As these processes take place among competing market participants it is to be expected that common positions can or may not always be found.
The project for the creation of SEPA is a part of the Lisbon agenda decided in the year 2000 by the European Council, which has the object, inter alia, of reorganizing the whole European financial management. Therefore, far-reaching changes confront payment transactions within the EU. All banks offering payment transaction services will be affected by this.
The APC regards itself as a coordination platform for the technical implementation of the SEPA requirements of the Austrian financial institutes and therefore represents the counterpart to the European Payments Council (EPC), the agreement by banks and associations at European level.