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Tag archive: ECB

2014 was a year of change

If there is one word that would characterize the year 2014, then it would be ‘change’. The year was full of changes in the area of payments, banking and technology. The long-awaited offend-date for SEPA, innovations in the field of mobile payment and (still limited) acceptance of Bitcoin are the most important changes. Even though […]

Instant payments with immediate availability of funds is the next step

Instant payments, person-to-person mobile payments and contactless payments; these are the next steps in retail payments, now the introduction of the Single Euro Payments Area (SEPA) was a success. That is, according to the Euro Retail Payments Board. The board decided to set up two streams: person-to-person mobile payments in euro, and card- and mobile-based […]

Trends in Payment Fraud

SEPA, e-commerce, mobile payments and bitcoins are just a few of the many shifts and innovations that dominate the payments industry. Whenever new technologies and practices evolve, there is an ongoing battle between organisations working to adapt the new reality and criminals trying to take advantage of early adaptors who are paving the way. To […]

Euro countries are getting ready for the extended deadline

It seems that postponing the SEPA deadline for all stakeholders to get ready was useful. In an earlier stage, the ECB stated that if the pace of migration continued, the vast majority of stakeholders would have completed their migration by February 1st, the original deadline. New figures from the European Central Bank show that this […]

The SEPA migration speeds up

While we are approaching the original SEPA deadline of February 1st, the transition is speeding up rapidly. At the end of December 2013, 74 per cent of credit transfers in the euro area were already SEPA-compliant, in November that was 64 per cent. Of all EU direct debits 41 per cent was SEPA-compliant, instead of […]

Frequently Asked SEPA Questions

With only several weeks to go before the Single Euro Payments Area (SEPA) switchover deadline, most of the companies and institutions in the participating countries are aware that there is no turning back. However, this does not mean that all preparations have been fully completed and that all involved parties are ready yet. Despite freely […]

The second migration report reveals disturbing SEPA migration statistics

Compared to the situation described in the first SEPA migration report, there is now a greater and faster migration from legacy credit transfers to SEPA Credit Transfers (SCTs) in most countries. This is one finding of the second SEPA migration report that has been published by the European Central Bank (ECB). On the flipside, the […]

Payment service users confirm: SEPA migration is manageable, feasible and beneficial

Javier Santamaría is the chairman of the European Payments Council (EPC), which supports and promotes the creation of the Single Euro Payments Area (SEPA). As requested by the EU authorities, the EPC developed, in close dialogue with the customer community, the SEPA Credit Transfer (SCT) and SEPA Direct Debit Schemes (SDD), which help to realize the integrated Euro payments market. Just […]

‘Awareness does not necessarily mean preparedness’

In an article on GTNews.com, a website for news on global treasury and finance, Javier Santamaría, chairman of the European Payments Council, wrote that organisations should avoid bottlenecks and get ready for SEPA now. According to the chairman there is still a worrying lack of recognition among some companies, seen in the many calls to […]

SEPA in the international media: a round up

In April 2013, 41,79 per cent of the total volume of credit transfers (CT) were SEPA credit transfers (SCT). The European Central Bank recently published the national SDD and SCT migration indicators. These numbers show that there’s a big difference between the various euro countries when it comes to migration to SEPA. To monitor the […]