Tag archive: European Union

Join the Debate on the Further Evolution of the SEPA Credit Transfer and SEPA Direct Debit Schemes: Less Flexibility, More Harmonisation?

This is a guest bog post from Javier Santamaría, Chair of the European Payments Council (EPC) European Union (EU) integration rarely follows the fastest possible trajectory, but relies on incremental progress over time. More than 14 years of the Single Euro Payments Area (SEPA) in the making, based on several EU legislative interventions aimed at […]

European Parliament approves transition period of six months

European Commissioner Michel Barnier is pleased that on February 4th 2014 the European Parliament has approved his proposal that allows non SEPA compliant payments to continue for a limited period of time, until August 1st  2014, in parallel with SEPA compliant payments. In a press release he states that the adoption of the proposal ensures the […]

Waivers to smoothen SEPA migration

The end date is in sight, Single Euro Payments Area (SEPA) will become reality on February 1st 2014. Every country in the SEPA zone has to be ready by then, because the introduction won’t be postponed. Some national banks have indicated that they need more time to implement some parts of SEPA. However, the SEPA […]

SEPA ready? Now what’s next?

The February 1st 2014 deadline for migration to SEPA is fixed. However, this doesn’t mean that after this date companies can lean back and leave all payment issues as they are. On the contrary, rules for payments are about to change fundamentally. Standardisation in payments means that there will be no differences between the various […]

‘A European trust seal can boost cross-border online shopping’

The introduction of the Euro was an important step towards economic integration for consumers in the Euro zone. Since 2002 there has been no need to exchange currencies when shopping abroad. The introduction of SEPA came as the next logical step, as consumers increasingly buy products online. The adoption of a single Euro payment standard […]