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Tag archive: SCT

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 […]

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 […]

Cards Standardisation Volume and SEPA Rulebooks receive small updates

Version 7.0 of the SEPA Cards Standardisation Volume is ready for market implementation. The European Payments Council (EPC) and the Cards Stakeholders Group (CSG) published the latest version last month. These new versions are the result of public consultation on version 6.5 in June 2013, where the CSG received more than 2,000 comments from market participants. According to the […]

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 […]

The end of the beginning for SEPA

This article has been published in the magazine Future Banking, a print version of the website Banking Gateway. Karin Flinspach, EMEA Head Payments and Receivables at Citi, and Equens CEO Michael Steinbach elaborate on the migration process to SEPA.  With fixed dates for SEPA migration and compliance, the European Parliament has created clarity, a sense 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 […]

Initial experiences of SNS Bank with CPS: easy to use and moderately optimistic

Equens Corporate Payment Services (CPS) has been up and running since the beginning of 2013 and has already processed a large number of transactions. SNS Bank has been using CPS for six months and still has relatively little experience with it. “The majority of contracts have been entered in the system, but so far few […]

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 […]

The unique SEPA position of Switzerland

Switzerland has a very special position in Europe. The country is not a member of the European Union (EU), but is relying heavily on trade with the rest of Europe. In this blog, Zeno Bauer, Manager Product Management Payments at the Zürcher Kantonalbank, elaborates on the payments structure in Switzerland in relation to the rest […]

Principalities and microstates in the SEPA zone

The purpose of SEPA is to achieve the integration of the euro payment market. The SEPA vision was set by EU governments in the Lisbon Agenda (March 2000), which aims to make the EU more dynamic and competitive. The SEPA area currently consists of the 28 EU member states (including the 17 euro countries), four […]