|
The European Payments Council (EPC) supports and promotes the creation of the Single Euro Payments Area (SEPA). The EPC is the decision-making and coordination body of the European banking industry in relation to payments. The EPC develops the payment schemes and frameworks which help to realise SEPA. SEPA is a European Union (EU) integration initiative in the area of payments. SEPA is the logical next step in the completion of the EU internal market and monetary union. 
|
Get ready for SEPA 
months  days
|
-
“The EU legislator mandates migration to SEPA in the euro area by 1 February 2014. As of this date, SCT and SDD will effectively replace national euro credit transfer and direct debit schemes. The scene is set to bring SEPA to its successful conclusion.”
Javier Santamaría, Chairman of the EPC, June 2012
-
“By February 2014 SEPA credit transfers and direct debits across the euro area will be as easy as domestic payments within one country are now. The reasonable transition periods applied provide legal certainty and bring forward the substantial future benefits of SEPA.”
European Commission Press Release, December 2011
-
“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.”
Javier Santamaría, Chairman of the EPC, June 2012
-
“The success of SEPA is very important economically as well as politically. Both the European Parliament and the Council [representing EU Member States] have underlined the importance of achieving rapid migration to SEPA.”
EU Regulation Establishing Technical and Business Requirements for Credit Transfers and Direct Debits in Euros (the SEPA Regulation), February 2012
-
“SEPA is a fundamental element of the internal market. The EU institutions continue to work diligently to deepen the internal market in financial services, with the euro at its core.”
European Parliament Press Release, December 2011
