Standardisation: A conditio sine qua non for efficient payment services

Gerard Hartsink

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Abstract: Standardisation is an essential condition for delivering cost-effective, secure and easy to use payment services to customers. The cost of retail payments instruments in Europe are about 1 per cent of GDP. The globalisation of trade and the development of e-commerce require that national approaches to legal and technical standards should no longer be supported by policy makers and market participants (suppliers and buyers).


Keywords: retail payments, legal standards, technical standards, ISO 20022, ISO TC 68, EMV, SEPA, Rulebook


Gerard Hartsink was the Convenor of the RMG of ISO 20022 until 7th November, 2013, and the Chairman of the EPC until June 2012. He is currently the Chair of the Board of the CLS Group. In January 2014, he was nominated by the FSB as the Chair for the GLEIF (Global Legal Entity Identifier Foundation). He has considerable experience in the payments and securities industry and also as former director of the Boards of LCH.Clearnet, Euroclear Netherlands and of SWIFT. Gerard had an extensive career at ABN AMRO Bank as Senior Executive Vice President until June 2012. He holds master’s degrees in political economy (University of Amsterdam) and law (Free University, Amsterdam).


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