The European Payments Council (EPC) representing the European banking industry in relation to payments has published its Annual Activity Report 2010. The report contains a clear message: incentivised by market demand, self-regulation by banks provides the most efficient means to create innovative, effective, secure and stress-resistant payment systems.

The payment schemes and frameworks developed by the EPC – at the request of European authorities and in close dialogue with payment service users – are key elements necessary to create the Single Euro Payments Area (SEPA). The EPC Annual Activity Report 2010 highlights further substantial progress achieved in the following areas covered by the EPC work programme.