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“The scene is set to bring SEPA to its successful conclusion. A clear deadline for migration to the SEPA Credit Transfer (SCT) and SEPA Direct Debit (SDD) payment schemes should be set through EU regulation.”
Gerard Hartsink, Chairman of the EPC, November 2010
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“The Eurosystem expects SCT and SDD to become the credit transfer and direct debit schemes used for euro payments in the EU.”
Seventh Progress Report on SEPA of the European Central Bank / Eurosystem, October 2010
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“The purpose of migrating from a multitude of national euro payment schemes to a single set of harmonised SEPA schemes can be compared to implementing standardised 'railroad tracks' for the exchange of payments across the European Union.”
EPC Annual Activity Report 2010
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“Establishing definitive end-dates for SDD and SCT migration would ensure that the substantial benefits of SEPA are rapidly achieved and that the high costs of running both legacy and SEPA products in parallel can be eliminated.”
European Union (EU) Finance Ministers represented in the EU Economic and Financial Affairs Council (ECOFIN), December 2009
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“Full integration of the payment market will only be achieved once Union-wide payment instruments completely replace the national legacy instruments.”
European Commission proposal for a regulation establishing technical requirements for credit transfers and direct debits in euros, December 2010
