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THE RETAIL SECTOR AND SEPA

National Bank of Belgium

30/05/06

Baudouin Velge, CEO Fedis

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INTRODUCTIONINTRODUCTION

OK with philosophy of integrated market

with competition

Basic requirements :

Common open & transparent standards

Full & commercial interoperability

of the infrastructure

Transparent cost-based pricing

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CONTEXTCONTEXT

98 % of payments national

Two topics :

Debit/credit cards

Invoices

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DEBIT/CREDIT CARDSDEBIT/CREDIT CARDS

Belgium quite efficient

Belgium much cheaper than average

E-money (Proton) better developed

than average

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DEBIT/CREDIT CARDSDEBIT/CREDIT CARDS

Requirement

As efficient

Debit cheaper

Proton cheaper

International integration not a priority

Competition !

European Commission :

« Migration that leads to decreasing services levels or

increasing price levels is not acceptable »

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DEBIT/CREDIT CARDSDEBIT/CREDIT CARDS

Transition

No interruption of quality of services

Zero cost for

- Retailer

- Consumer

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INVOICESINVOICES

Present features must remain

Structured message

Payment : maximum day + 1

Electronic invoicing : in Belgium not even realised

To high (costly) security level

500.000 invoices out of 1 billion (5/10.000 !)

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CONCLUSIONCONCLUSION

Retail wants to be consulted

No migration without cost/service

improvement

No cost for retail industry

General impression of « running

before walking »