On 20 October 2014, the European Central Bank (ECB) published a revised mandate for the European Forum on the Security of Retail Payments, otherwise known as SecuRe Pay. The mandate outlines how SecuRe Pay intends to enhance common knowledge and understanding across the spectrum, with the objective of fostering co-operation among authorities and establishing harmonised policies.

What this means for you

SecuRe Pay is a voluntary initiative between relevant authorities from the European Economic Area (EEA). Its primary focus is the safety of electronic retail payment services, systems and schemes within the EEA. Since SecuRe Pay was established in 2011, it has published a number of recommendations, including on the security of internet payments in January 2013.