- The EPC has released five rulebooks for 2025 payment schemes, with updates effective from 5 October 2025, aligning with the Instant Payments Regulation (IPR).
- The 2025 rulebooks introduce hybrid formats for payer/payee addresses, with unstructured addresses no longer accepted after 22 November 2026.
What happened: Payment scheme rulebooks
The European Payments Council (EPC) has released five rulebooks for its 2025 payment schemes, along with the Implementation Guidelines (IGs). These updates will take effect on 5 October 2025, instead of the usual November date. This shift aligns with the Instant Payments Regulation (IPR), which amends SEPA Regulation (EU) 260/2012.
A key change in the 2025 rulebooks is the introduction of hybrid formats for payer and/or payee addresses. From 22 November 2026, the unstructured address format will no longer be accepted. Only fully structured or hybrid formats will be permitted. More details are in the EPC’s guidance document, Provision of Addresses under the EPC Payment Schemes (EPC 153-22). These changes aim to enhance clarity and compliance with evolving standards.
The new date ensures consistency across EPC schemes and simplifies preparation for Payment Service Providers (PSPs), Clearing and Settlement Mechanisms (CSMs), and technical service providers. The IPR introduces new requirements for PSPs in the European Economic Area (EEA). Some provisions will apply to Euro area PSPs (excluding Payment Institutions and Electronic Money Institutions) from 9 January 2025, with others following by 9 October 2025. The EPC warns that participants in its payment schemes and their technical service providers will face a shorter implementation timeframe than usual.
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Why it is important
The release of the 2025 payment schemes rulebooks by the European Payments Council (EPC) is crucial for several reasons. Firstly, it aligns with the Instant Payments Regulation (IPR), ensuring consistency across payment systems. The shift to an October 2025 implementation date also streamlines the process for Payment Service Providers (PSPs) and other participants, reducing the usual time for preparation.
A significant change is the introduction of hybrid formats for payer and payee addresses. From 2026, unstructured formats will no longer be accepted, helping to standardise address formats and improve clarity. This change supports compliance with evolving regulatory standards.
The new requirements for PSPs in the European Economic Area (EEA) will affect both Euro area and non-Euro area countries, with some provisions coming into force as early as January 2025. Overall, these updates aim to simplify the payments ecosystem, ensuring smoother and more efficient operations across the board.
