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EPC publishes terms and conditions for the SPAA remuneration model

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The European Payments Council (EPC) has published the terms and conditions for a fee model under the SEPA Payment Account Access (SPAA) framework. This marks an important step in the further development of Open Banking in Europe.

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SPAA comprises rules and agreements for account information services and value-added payment initiation services (‘premium’ services) . These premium services may be offered by so-called Account Servicing Payment Service Providers (ASPSPs, usually banks) to Third Party Providers (TPPs, regulated payment service providers in general).

The SPAA framework now also provides for objective and transparent commercial terms for a fee model .

Gijs Boudewijn, Managing Director of the Dutch Payments Association and Co-Chair of the SPAA Multi-Stakeholder Group (SPAA MSG): “Together with various stakeholders, we are thereby creating the right conditions for a vibrant European ecosystem for Open Banking.”

Read the EPC’s detailed press release…

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