Consultation announcement: oversight framework for card payment schemes

3 May 2007

In line with its statutory responsibility to promote the smooth functioning of payment systems, the Eurosystem has been monitoring developments in the use of payment cards (in particular, for cross-border transactions and payments over the Internet) as well as the evolution in the risks to which card payment schemes (CPSs) are exposed.

In order to promote the reliability of CPSs, contribute to the maintenance of public confidence in card payments and promote a level playing field across the euro area, the Eurosystem has developed an oversight framework for CPSs that process euro payments.

From an oversight perspective, a CPS is a set of functions covering the entire cycle of a card payment. The oversight framework provides for both existing and future CPSs, and has been developed in parallel to, but independently from, the project to create the Single Euro Payments Area (SEPA). The proposed framework applies to all CPSs providing card payment services, including debit and/or credit cards. This oversight framework also covers cards debiting prepaid and dedicated accounts, such as “gift” cards, but e-money schemes are beyond its scope.

The document entitled “Draft Oversight Framework for Card Payment Schemes - Requirements” defines the intended scope of such oversight and proposes requirements which, if observed, would contribute to the soundness of CPSs. The requirements emanate from a risk analysis conducted by the Eurosystem.

The Eurosystem would like to invite all interested parties to comment on the proposal by close of business on 2 August 2007. Although the CPS governance authorities are the main addressees of the oversight framework, it would also be valuable to have the views of the different actors in a CPS, such as issuers, acquirers, processors, vendors and merchants. The document can be found on the ECB’s website using the following link: http:/

The respective national central banks (NCBs) will serve as contact points for national CPSs and actors in their countries and are ready to provide further information or discuss questions regarding the oversight framework.

Any comments received will be made public on the Internet, unless it is clearly indicated that the author does not consent to such publication. Comments should be sent in English or in the relevant official Community language to the ECB at the following address:

European Central Bank

Secretariat Division

Kaiserstrasse 29

D-60311 Frankfurt am Main


Fax: +49 69 1344 6170


or to the respective NCB of the Eurosystem via the following link:

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