The European Payments Council (EPC) has published an updated version of the Sepa cards standardisation volume, calling it “a step towards an enhanced security of remote card payments in Europe”.

The updated version is a key document for the card industry, aimed at achieving a better and functionally richer card services environment, as well as cards standardisation, interoperability, and security in Europe. It was first created in 2009 and is regularly updated to ensure it is aligned with the evolution of cards technology and regulation.

Version 7.1 includes the following new elements:

• For the first time, the functional and security requirements of card-not-present, or ‘remote’, payments are covered, in the context of electronic and mobile commerce, by mail and telephone order.
• A cards processing framework (new book), which defines business principles and requirements for market access and participation in card payment processing services.
• Additional requirements and modifications reflecting the Cards Stakeholders Group's (CSG) analysis of the impact of certain provisions of the 2015 European Regulation on interchange fees for card-based payment transactions entering into force in June 2016.

The EPC states that all interested parties active in the card industry are expected to get ready for market implementation of version 7.1 by December 2018.