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Tag archive: SEPA Direct Debit

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 […]

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 1)

As Europe’s largest economy Germany is used to being watched closely. The same goes for the preparations for SEPA. How is Germany coming along?  What issues are there and what do we need to know about specific rules and exceptions in their payments market? An interview with Jochen Metzger, head of the payments and settlement systems […]

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 […]

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 […]

Best practice: Migration to SEPA already completed in Finland

In July, clients of Equens received the annual EQ Magazine, a publication in which banks and other insiders share their views on the European financial industry. It is therefore no surprise that the latest issue also covered the migration to SEPA. When I was reading the magazine, one article in particular stood out. In the […]

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 […]