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Tag archive: SEPA Credit Transfer

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 […]

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 […]

Standardization: What does ISO 20022 mean?

The European payments area will be standardized; from February 1st 2014 on this will be known as SEPA. From this date on the current paying methods in 33 countries are not operational anymore. This means that the participating countries have a lot of catching up to do in transforming the current structures into SEPA structures; […]

‘German businesses are attached to short payment cycles’ (part 2)

In an earlier blog post, Jochen Metzger, head of the payments and settlement systems department at Deutsche Bundesbank, was asked about the process of the SEPA integration in Deutschland. In this blog post he explains more about the stage of integration Germany is in nowadays. Is SEPA a hot media topic in your country? It’s […]

The progress of SEPA

Let’s take a quick look back into the history. When the European Payments Council (EPC) in 2003 decided that SEPA would become the standard, Luxembourg was the first country that went full speed ahead. The rest of the countries followed later, with each country taking the step in its own pace. Nine years after the […]

XML: the key ingredient for truly standardised SEPA data formats

Ruth Wandhöfer is Head of Regulatory & Market Strategy at Citi Transaction Services. In this blog post she discusses how local variations in SEPA data formats form a threat to market harmonisation. The major barrier preventing SEPA from becoming a reality lies in the different data formats that are in place to process payments across […]

Report reveals: ‘Crisis could alter pace of SEPA migration’

As the February 2014 deadline approaches, banks and corporates are increasingly eager and willing to adapt their systems and processes to SEPA. The rapidly changing and volatile macroeconomic environment, however, could still alter the path and pace of SEPA progress in the run-up to the deadline. This is one of the findings of the latest […]

The Ins and Outs of Rulebooks

The migration to SEPA is bringing about many changes. One of the most conspicuous of these changes is the standardisation of European payment products. As of 1 February 2014, all organisations and institutions in the payments chain will have to comply with these new standards. Payments in the SEPA countries will be harmonised, and cross-border […]

Interview with Javier Santamaría, part one: ‘SEPA is kicking in and it is working’

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 […]