To assess Single Euro Payments Area ( ) preparedness across the transaction chain per country, the Eurosystem has published the first qualitative indicators (see 'related links' below). The Eurosystem comprises the European Central Bank (ECB) and the national central banks of countries that have adopted the euro. The qualitative indicators, which are also referenced as the 'traffic light indicators', take into account the specificities of the respective country. The ECB Website states: "Although the qualitative indicators are based on a common approach, they are, primarily, meant to indicate the level of preparedness of the different stakeholder groups within the respective country and are less of an indication for doing any cross-referencing between the various individual countries. The Eurosystem performed these qualitative assessments on a best effort basis. It cannot be excluded that the preparation level of the individual stakeholders diverges from the general overall assessment." Non-euro area European Union countries participate in this exercise on a voluntary basis only. The qualitative indicators will be updated on a quarterly basis by the national central banks.
The qualitative indicators complement the quantitative indicators (see 'related links' below) also published on the ECB Website. The quantitative indicators measure the share of Credit Transfer and Direct Debit transactions as a percentage of the total volume of credit transfers and direct debits generated by bank customers in the euro area. In the area of cards, the quantitative indicators monitor migration to EMV at transaction level. EMV is an industry standard to implement chip and personal identification number security for card transactions to combat fraud.
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