The Focus

SEPA & EBICS Updates - April 2025 Edition Welcome to the April edition of our newsletter! In this edition, we bring you the latest developments around SEPA and EBICS - including regulatory updates, new participating countries and innovative trends in payments.

SEPA Updates

1. Updated Entry into Force Dates for EPC Rulebooks (2025) The European Payments Council (EPC) has revised the entry into force dates for its 2025 payment scheme rulebooks. Key points include

• The Verification of Payee (VoP) rulebook and related API specifications will be published in September 2024.
• The SEPA Immediate Credit Transfer (SCT Inst) 2025 rulebook will be published in November 2024.
• The SCT, SDD Core, SDD B2B, VoP and OCT Inst rulebooks will enter into force on October 5, 2025 - in line with the implementation of the new Regulation on Instant Payments.
• Exception: The OCT Inst rulebook will go into effect on November 16, 2025.

1. As of April 2025, financial institutions in North Macedonia and the Republic of Moldova will start participating in the SEPA schemes. Both countries are expected to be fully operational in SEPA by October 5, 2025.

This integration will enable faster, cheaper and standardized cross-border euro payments.

1. Instant Payments Regulation (EU 2024/886) The new Instant Payments Regulation requires payment service providers to support instant euro transfers at the same cost as regular credit transfers.

A key provision: by October 2025, Verification of Payee (VoP) checks will be mandatory before all SEPA credit transfers. The goal: safer and more transparent payment flows across Europe.

EBICS Update

Global EBICS - Going International with BNP Paribas BNP Paribas is expanding the global use of EBICS with its "Global EBICS" initiative. This enables multinational corporations to securely manage cross-border payments using a single protocol - fully integrated with their treasury management systems.

Industry Event Recap

Transaction Banking Strategy Forum 2025 On April 10, 2025, experts gathered in Frankfurt to discuss the future of transaction banking. Topics included:

• SEPA regulatory changes - ISO 20022 migration strategies - Tools like MultiCash 5 for improved reporting and compliance

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