EPC | SEPA Customers - SEPA Customers

SEPA Customers

First and foremost, SEPA benefits bank customers including consumers, businesses and public administrations.

SEPA enhances competition in the provision of payment services. Once SEPA is achieved, bank customers are able to exchange euro payments between any accounts in SEPA as easily as it is possible today only within national borders. Common standards, faster settlement and simplified processing improves cash flow, reduces costs and facilitates the access to new markets. Moreover, users benefit from the development of innovative products offered by payment sector suppliers.

According to a study conducted at the request of the European Commission, the replacement of existing national payment systems by SEPA holds a market potential of up to €123 billion in benefits, cumulative over six years and benefitting the users of payment services.

SEPA will become a reality when a critical mass of transactions has migrated from national legacy payment systems to the new SEPA payment instruments. This goal can only be achieved if major players in the payments environment such as public administrations become dedicated SEPA customers. To facilitate SEPA implementation by public entities the EPC released the publication "SEPA for the Public Sector" (see below). This publication is now available in all EU languages (see "SEPA for the Public Sector - Translations") courtesy of the European Central Bank in cooperation with EU national central banks.

The following publications released by the EPC provide detailed information on how SEPA impacts different stakeholders.

Links

Better Business with SEPA Direct Debit. Corporate Customers confirm Benefits of SEPA (EPC Newsletter)
SEPA: potential Benefits at Stake. Researching the Impact of SEPA on the Payments Market and its Stakeholders (Capgemini)

SEPA Customers

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