E-payment products and value-added services: Moving towards an innovative European internal market

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Central banks analyse issues concerning retail payments - or just payments - to be able to promote optimal means of payment. Over the years, electronic payments - i.e. payments initiated and settled electronically - have gradually replaced manual paper-based payments on the grounds of convenience, security and efficiency. Moreover, payments become more efficient when services are offered to customers both before and after payment. These so-called value-added services (VAS) are fully electronic services such as e-invoicing and e-reconciliation, which bring time and cost-savings for all participants, as paper-based services and manual work are replaced. In this paper we prove a clear-cut distinction between electronic payment products (e-payments) and VAS. We use the so-called Single Euro Payments Area (SEPA) project as a case study and discuss its current state of fatigue. Based on practical experience in Europe we conclude that the SEPA fatigue can be overcome by real-time settlement for payments and VAS supporting end-to-end (e2e) straight-through processing (STP).

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Danmarks Nationalbank Working Papers ; No. 61

Classification and Topics

• Classification: Wirtschaft
• Subject: Elektronisches Geld ; Telekommunikationsdienst ; Zahlungsverkehr ; Internationaler Zahlungsverkehr ; Eurozone ; EU-Staaten

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Amundsen, Elin ; Kalsone, Dace
• Event: Veröffentlichung
• (who): Danmarks Nationalbank
• (where): Copenhagen
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/82323
• Last update: 10.03.2025, 11:43 AM CET