ECB has published a revised version of its oversight framework for retail payment systems. The framework specifies that the entities and instruments that form the payment and settlement landscape of the euro area and retail payment systems (RPS) are an integral part of this landscape. It covers:

  • classification of retail payment systems;
  • application of oversight requirements to different RPS categories;
  • the organisation of oversight activity; and
  • identification of applicable principles, key considerations and oversight expectations for prominently important retail payment systems and other retail payment systems.

(Source: ECB revises oversight framework for retail payment systems)