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SEPA Declaration

  • The Single Euro Payments Area (SEPA) is the area in which individuals and businesses can make and receive card and electronic payments in euro, across Europe regardless of their location. SEPA consists of the 28 member states of the EU, plus Iceland, Liechtenstein, Monaco, Norway, and Switzerland.
  • JCB International (JCBI) welcomes the development of SEPA and believes that it will help to create a single market for payment services.
  • The Eurosystem has defined SEPA compliance for card schemes as the fulfilment of the criteria contained in the SEPA Cards Framework (*1). The Eurosystem has published the terms of reference for SEPA compliance of card schemes on the basis of the SEPA compliance criteria.
  • JCBI has conducted a self-assessment and has amended its operations and card scheme rules (the JCB Regulatory Publications) to ensure that the JCB network is compliant with SEPA. In implementing SEPA, JCB has considered the Eurosystem terms of reference for the SEPA compliance of card schemes and certain applicable provisions of the Payment Services Directive (PSD).
  • In order to achieve SEPA compliance, JCBI has reviewed and amended provisions in our European licensee agreements with issuers and merchant acquirers to ensure that there is a consistent commitment to the principles of SEPA within the provisions of our bilateral agreements with licensees.
  • We set out in Annex 1 our positive responses to the questions applicable to JCBI set out in the Terms of Reference for the SEPA compliance of card schemes.

*1 Published on 8 March 2006

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