EU의 전자결제시스템에 대한 비교연구

A Comparative Study on Electronic Payment System in EU - Compare Target with SEPA -

This paper discusses on Wholesale Electronic Payment System in EU. Especially I analysis TARGET compare with SEPA to advance a research effects. Because Target is usually used to settle wholesale funds while SEPA mainly adapt a small, consumer to consumer payment. Target is established in 1999 but transferred to TARGET2 in 2007 as Trans-european Automated Real-time Gross Settlement Express Transfer System. SEPA is operated in 2010 as Single Euro Payment Area. I used Guideline of the ECB on a TARGET2 and Payment Services Directive as a analysis tools. I also adapted MOU on an Intra-ESCB Dispute Settlement Procedure and SEPA Credit Transfer Scheme Rulebook, SEPA Direct Debit Scheme Rulebook to rule concerned parties. This article is going to display as fellows; First of all, I presented establishment background and legal stabilities of electronic payment system in EU. Second, I analyze in distinguish marks of payment system and mechanism both system including participation methods in payment system Third, I focus on operation policy and the allocation of risk of loss caused by ambiguous payment orders and technology errors of system. I also did analyze many solutions in order to manage risk occurring in course of send of payment order. For example, intraday credit, limit, liquidity reservation liquidity pooling, queue management etc. Lastly, In order to develop electronic payment system, I suggested policy proposals together with conclusion.